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By Will Ashworth of Kiplinger Sports betting stocks are one of the hottest areas of the market right now, and industry experts expect more of the same in the years ahead.
It's difficult to get a pulse of exactly how big the industry might become; estimates for the size of the sports betting market vary greatly in size and time horizon. Independent research firm Gambling Compliance says the U.S. betting market will range between $5.9 billion and $8.2 billion by 2024. Morgan Stanley believes the U.S. sports betting market could hit $10 billion annually by 2025; globally, it sees sports betting topping $100 billion. BofA Securities sees the U.S. market hitting $24 billion by 2030.
But one thing is clear: The stakes are high. The fact that a thematic ETF – the Roundhill Sports Betting & iGaming ETF (BETZ) – hit $100 million assets within three months of launching is indicative of just how high the stakes have gotten.
'Every play and move in sports entails an outcome that can be bet on,' says Luke Lloyd, a wealth advisor and investment strategist at Strategic Wealth Partners. 'Sports betting allows people to be more engaged in the game, specifically every play, usually making it more fun and entertaining to watch.'
'Also, the rise of fantasy sports has increased the engagement from the younger generations, leading to a path of growth for many companies in the long-term as sports-betting makes its way throughout the United States and the world.'
Dover Casino Sports Wagers
Read on as we evaluate seven of the best sports betting stocks in the market. Each of these picks provides access to gains in sports wagering, though some are more direct bets on the trend, while others are more diversified plays on gambling generally.
- SEE MORE 15 Cheap Dividend Stocks Under $15
Data is as of Sept. 27. © Getty ImagesSports Wagering
Wagerline
NCAA rules prohibit participation in sports wagering activities and from providing information to individuals involved in or associated with any type of sports wagering activities concerning intercollegiate, amateur or professional athletics competition. Sports wagering has the potential to undermine the integrity of sports contests and jeopardizes the well-being of student-athletes and the intercollegiate athletics community. It also demeans the competition and competitors alike by spreading a message that is contrary to the purpose and meaning of 'sport.' Sports competition should be appreciated for the inherent benefits related to participation of student-athletes, coaches and institutions in fair contests, not the amount of money wagered on the outcome of the competition.