Online gambling is sending sports betting ETFs to record highs
ETF players are doubling down on the online gambling and sports betting arena in 2021.
Betting interest has surged throughout the coronavirus pandemic, and a week after Super Bowl LV, related ETFs are enjoying a record run.
Right now, there are two primary funds out there that offer core exposure to gambling and sports betting – the Roundhill Sports Betting & iGaming (BETZ) and the VanEck Vectors Gaming ETF (BJK). Both have quickly raced to record highs.
BETZ, in particular, has skyrocketed 96% since it launched in early June.
VanEck’s ETF offers a more traditional mix of casino stocks and gambling names – including Wynn Resorts and Las Vegas Sands – which have taken a hit from travel and leisure troubles. BETZ is a global pure play on digital gaming stocks like online bookmaker PointsBet, Canadian betting firm Score Media, and even a handful of SPACs focused on sports betting technology and data providers.