{"id":1563,"date":"2023-02-14T11:27:24","date_gmt":"2023-02-14T11:27:24","guid":{"rendered":"https:\/\/tradersontrend.com\/?p=1563"},"modified":"2023-02-14T11:27:24","modified_gmt":"2023-02-14T11:27:24","slug":"betting-stocks-to-get-a-boost-following-a-strong-super-bowl","status":"publish","type":"post","link":"https:\/\/tradersontrend.com\/h\/2023\/02\/14\/betting-stocks-to-get-a-boost-following-a-strong-super-bowl\/","title":{"rendered":"Betting Stocks to Get a Boost Following a Strong Super Bowl?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1563\" class=\"elementor elementor-1563\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7f0a8a9e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7f0a8a9e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5ecf8a22\" data-id=\"5ecf8a22\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-799279b elementor-widget elementor-widget-text-editor\" data-id=\"799279b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 26-05-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>According to analysts, punters are expected to have bet record amounts on Sunday&#8217;s <a href=\"https:\/\/sports.yahoo.com\/super-bowl-2023-patrick-mahomes-comes-up-clutch-chiefs-come-back-to-beat-the-eagles-031423354.html\">Super Bowl between the Kansas City Chiefs and the Philadelphia Eagles<\/a>. <br \/><br \/>DraftKings, Entain, and Flutter will be hopeful that this helps their stocks recover after sharp drops last year.<\/p><p>A record $1.1 billion is expected for sports betting on Sunday&#8217;s Super Bowl.<\/p><p>Analysts at PlayUSA estimated that legal sportsbooks took a record $1.1 billion in bets during Super Bowl 57 on Sunday, with stocks like DraftKings [<a href=\"https:\/\/www.google.com\/finance\/quote\/DKNG:NASDAQ\">DKNG<\/a>], Flutter [<a href=\"https:\/\/www.google.com\/finance\/quote\/FLTR:LON\">FLTR.L<\/a>], and Entain [<a href=\"https:\/\/www.google.com\/finance\/quote\/ENT:LON\">ENT.L<\/a>] profiting when the Kansas City Chiefs won for the second time in four years.<\/p><p>A total of $1.1 billion would represent a 15.8% increase over the approximately $950 million in legal betting in 2022.<\/p><p>Meanwhile, the <a href=\"https:\/\/www.americangaming.org\/\">American Gaming Association (AGA)<\/a> predicted that more than 50 million individuals will bet on the game, making it the largest bet-on event in American football history. <br \/><br \/>It was also the first time the game was held in Arizona, a state where sports betting is allowed.<\/p><p>DraftKings&#8217; stock price was up 40.4% as of the closing on February 10, the Friday before the game. Flutter was up 9.8%, whereas Entain was down 0.7% after gaining 13.4% in January.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">Expansion is Fueled by Paradigm Shifts.<br \/><br \/><\/span><\/strong><span style=\"font-family: inherit;\">DraftKings, <\/span><a style=\"font-family: inherit;\" href=\"https:\/\/www.fanduel.com\/\">FanDuel<\/a><span style=\"font-family: inherit;\">, and other major operators&#8217; apps make it easy for punters to bet from their phones while also expanding their alternatives. <br \/><br \/>Smaller aspects, such as who will catch the first full pass or which song Rihanna will play at halftime, can be wagered on via the applications.<\/span><\/p><p>Sports betting is presently allowed in 33 US states, with recent additions including Louisiana, Maryland, Massachusetts, and Ohio, as well as Washington, DC, the nation&#8217;s capital.<\/p><p>DraftKings is set to release fourth-quarter (Q4) 2022 earnings on February 16, with analysts expecting a 68.4% increase in revenue but a loss of $0.63 per share. By 2024, the company intends to be profitable.<\/p><p>Flutter, the London-based owner of Paddy Power and FanDuel, is expected to report in the first week of March. FanDuel is on track to meet its full-year revenue projection for 2022, which it raised in November to between $2.95 billion and $3.2 billion.<\/p><p>Meanwhile, Entain provided a Q4 trading update on February 1st. It reported record net gaming revenues for the whole fiscal year 2022, up 71% for its sports betting sector, BetMGM.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">After a Quiet Year, the Sports Betting Topic is Making a Comeback.<br \/><br \/><\/span><\/strong><span style=\"font-family: inherit;\">Online sports betting may be on a post-Super Bowl high, but the theme has declined since the mid-pandemic peaks of 2021.<\/span><\/p><p>DraftKings recently <a href=\"https:\/\/www.cnbc.com\/2023\/02\/01\/draftkings-cuts-140-jobs.html#:~:text=DraftKings%20is%20eliminating%20140%20jobs,making%20its%20operations%20more%20efficient.\">announced 140 job cuts<\/a>, but stated that this was due to operational efficiencies and a shift in investment focus from business-to-business to mobile.<\/p><p>According to Bloomberg, smaller sports betting companies such as Fubo Gaming and MaximBet have shut down in the last year, as investor confidence has generally cooled.<\/p><p>The question is whether huge events such as the Super Bowl will assist to revitalize the industry. <br \/><br \/>During this year&#8217;s contest, both Flutter and DraftKings ran advertisements.<\/p><p>The fact that sports betting is becoming legal in an increasing number of US states will help, however, states holding back include California and Texas.<\/p><p>Grand View Research estimates that the sports betting market will be valued at $83.65 billion in 2022 and will increase at a CAGR of 10.3% until 2030.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">Roundhill Sports Betting &amp; iGaming ETF is One of the Funds Under Consideration.<br \/><br \/><\/span><\/strong><span style=\"font-family: inherit;\">Investors interested in sports betting should choose the Roundhill Sports Betting &amp; iGaming ETF [<\/span><a style=\"font-family: inherit;\" href=\"https:\/\/www.google.com\/finance\/quote\/BETZ:NYSEARCA\">BETZ<\/a><span style=\"font-family: inherit;\">], which owns stock in all three of the 41 firms covered in its portfolio. <br \/><br \/>The fund represents Roundhill&#8217;s conviction that the regulatory climate is improving and that further increases in betting and gaming can be expected.<\/span><\/p><p>DraftKings is the largest stake as of 12 February, with a 6.76% weighting, followed by Flutter with a 5.87% weighting and Entain with a 5.34% weighting. BETZ has increased by 11.7% year to date.<\/p><p>The iBET Sports Betting &amp; Gaming ETF [<a href=\"https:\/\/www.google.com\/finance\/quote\/IBET:NASDAQ\">IBET<\/a>] also has exposure to Flutter stock, which is its top holding at 6.05% as of 10 February. <br \/><br \/>DraftKings is ranked fifth with 4.88%, while Entain is ranked sixth with 3.33%. Year to date, the fund is up 12.8%.<\/p><p><em>For More Stocks And Investment Related News, Click\u00a0<a href=\"https:\/\/tradersontrend.com\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/tradersontrend.com\/&amp;source=gmail&amp;ust=1676453818864000&amp;usg=AOvVaw2J_CbbyUXHMJRtmcMtQoGb\">Here<\/a>.<\/em><\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>According to analysts, punters are expected to have bet record amounts on Sunday&#8217;s Super Bowl between the Kansas City Chiefs and the Philadelphia Eagles. DraftKings, Entain, and Flutter will be hopeful that this helps their stocks recover after sharp drops last year. A record $1.1 billion is expected for sports betting on Sunday&#8217;s Super Bowl&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":1564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[72,194,217,257,582],"class_list":["post-1563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter","tag-betting-stocks","tag-dkng","tag-ent","tag-fltr","tag-super-bowl"],"_links":{"self":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/comments?post=1563"}],"version-history":[{"count":0,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media\/1564"}],"wp:attachment":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media?parent=1563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/categories?post=1563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/tags?post=1563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}