Football’s (not the American variety) biggest tournament, starts on June 11.
Combine the magnitude of the event with the expanded field of 48 teams and North America being the host, and it’s reasonable that some investors are scoping out sports betting stocks
Predictably, that search will lead many market participants to DraftKings (NASDAQ: DKNG) and Flutter Entertainment (NYSE: FLUT), the owner of FanDuel, but caution is warranted here. Some experts estimate the U.S. betting handle, which is the total amount wagered on an event in dollar terms, on the soccer competition will be $3.1 billion. The number could rise depending on the U.S. team’s success.
However, global handle could reach $50 billion, or approximately $500 million per match, underscoring why investors may want to examine sports wagering equities with significant exposure beyond U.S. borders. Enter Rush Street Interactive (NYSE: RSI) and Super Group (NYSE: SGHC). Why this duo can score World Cup goals Yes, soccer is more popular today in the U.S. than it was when the country hosted the event in 1994.