Best Sports Betting Stocks To Buy, Sell, Hold: February 2024

• Buy FLUT in its entrance to the American stock market.
• Hold DKNG but get back in if a mass sell off happens.
• CZR is a sell due to their inflated price.

PHOENIX – With the 2024 stock market being a month old, it’s time to give some gambling stock predictions.

Sports Betting & iGaming ETF – Hold BETZ

Trading above $25 and into the 30s for all of 2021, the price sits closer to $17.75 now.

Though it’s down 12% over three years as of last month, it’s still up about 3.6% overall and offers a way to hold many of the top legal sports betting companies in the US.

Top Holdings For BETZ

• FLTR ID 11.4%
• DKNG 8.59%
• EVO SS 7.23%
• ENT LN 6.44%
• KINDSDB SS 5.83%
• CHDN 5.38%

With 33 holdings and an expense ratio of 0.75%, this passively managed ETF is a great launching point.

Caesars Entertainment Inc – Sell CZR

Caesars has always been a great stock to me and the company is a household name in the gambling sector. But, at $44.27 a share, it’s overweight.

Hitting under $9 during the COVID-19 drops, CZR peaked shortly after at $119 in October 2021. Down 63% from the all time high, the stock has remained relatively flat since the summer of 2022.

It’s a sell at the moment for me, despite 11/16 Market Watch analysts calling it a buy. But I’d definitely look to add shares later in 2024 if the price drops to $35 or less.

Flutter – Buy FLUT

Flutter Entertainment owns one of the best legal sportsbooks in the US and can grab a foothold in the online casino industry if it can spread even half of how sports betting did.

Trading as FLUT, Flutter owns FanDuel, TVG, and a variety of other gambling outlets. But, their dominance with FanDuel Sportsbook is shown in revenue reports.

• The Meadowlands accounted for 48% of the New Jersey sports betting market for 2023 – an industry bringing in over $1 billion in revenue.
• FanDuel at Fairmount Park in Illinois through November saw over $1.6 billion in professional wagers for 2023. Their revenue share is 41% for the state.
• FanDuel in New York has brought in $600 million in revenue since April of 2023.

While they lead many states in overall sportsbook revenue, this is still before paying sports betting taxes, which are 51% in New York and roughly 10-20% elsewhere.

DraftKings – Hold DKNG

I would hold off on DraftKings at the moment since executives sold personal shares worth $60 million in late 2023. For DraftKings, this was the most inside stock sales in one month for the past two years.

Also, with the growth of the DKNG ticker over that time, it’s easy to imagine most are ready to panic sell or happily sell with profits.

At it’s current level, $39.98 premarket, I would wait and get back in after a drop to $32-$34.

Financial Disclosure

This article is written by an author with only person trading experience and is not paid to give financial advice. Please consult a financial advisor before making any major financial decisions, as these recommendations come strictly in the form of entertainment.

News tags: BETZ | Caesars | CZR | DKNG | DraftKings | Fairmount Park | FanDuel | FLUT | Flutter | Illinois | Meadowlands | New Jersey | New York