With the 2024 NFL season now underway – buy gambling stocks, we said in October.
After all, according to the American Gaming Association, Americans are expected to spend about $35 billion on NFL games this year. Thatβs up from the $26.7 billion wagered a year ago.Β
As noted by CBS Sports, βThe NFL remains king, and more money is wagered on the NFL than any other league. The NFL also attracts six-figure wages (and sometimes seven-figure wagers) on a regular basis throughout the season.β
That being said, investors may want to place bets on stocks such as:
DraftKings (SYM: DKNG)
In late October, DKNG traded around $36. It would race to a high of $45.87.
Now back to $38.35, itβs regaining momentum and could shoot higher.
Analysts at Needham recently reiterated a buy rating on DKNG and said itβs in a strong position to benefit in the online sports betting market. Analysts at Macquarie also named DKNG as a top online stock to own during the NFL season βbecause it is most exposed to near-term upside from favorable NFL game outcomes, higher structural hold and general online sports betting/iGaming growth momentum,β as noted by Seeking Alpha.
Flutter Entertainment (SYM: FLUT)
In late October, FLUT traded at around $222. It would race to $283.45. Now back to $255.88, it could race even higher. Helping, Wells Fargo upgraded the stock to an overweight rating. The firm said investors should consider the stock after a recent pullback.Β
Sports Betting & iGaming ETF (SYM: BETZ)
Or, if you want to diversify at a lower cost, thereβs the Sports Betting & iGaming ETF (BETZ). With an expense ratio of 0.75%, the ETF tracks the performance of the Morningstar Sports Betting & iGaming Select Index. Some of the top holdings in the ETF include Flutter Entertainment, DraftKings, Entain, Churchill Downs and Evolution.
Continue Reading: Warren BuffettΒ himself ownsΒ $40 billionΒ of stock in this sector.
Elon MuskΒ has said that without this investment,Β “civilization will crumble.”
J.P. MorganΒ even warned of aΒ “global depression”Β without it!
It’s an investment that impacts overΒ $85 trillionΒ in global activity…
AndΒ this one little-known stockΒ is set to completely dominate this industry…
And the best part? The stock is still less than $20 a share!