A Market on the Rise
Sports betting has long since moved beyond stadiums and betting shops — it has conquered the stock market. A growing number of companies are going public, and investors are betting on continued growth. The global sports betting market is valued at around 107 billion US dollars in 2024. In Europe, revenues are expected to almost double to more than 80 billion US dollars by 2030. In the US, where online betting was only legalized in 2018, revenues already reached 13.7 billion US dollars in 2024 — with strong growth ahead. Driving forces include digitalization, mobile apps, and live betting. eSports and streaming platforms are also bringing in younger demographics.
The Major Players
Several big names dominate the market. DraftKings, a US-based operator for sports betting and daily fantasy sports, has been publicly traded since 2020 and is one of the most recognized stocks in the sector. Flutter Entertainment, parent company of FanDuel and Betfair, is strongly positioned in both Europe and the US. Entain, owner of brands such as bwin and Ladbrokes, focuses on Europe and Asia. Penn Entertainment combines casinos with sports betting and media partnerships, while Sportradar, a Swiss data and technology provider, supplies odds, statistics, and integrity services.
Beyond these heavyweights, a growing number of smaller companies are also seeking investor capital. Some focus on niche betting markets or specific regions, while others provide technology platforms or B2B services. Although these firms lack the market capitalization of the big players, their listings show that capital markets are becoming increasingly diverse in the gambling sector. For investors, this creates opportunities — but also higher risks, as these companies are often dependent on narrower business models.
Opportunities and Risks
The number of publicly listed sports betting companies has grown significantly over the past five years. Analysts even speak of a “gold rush.” Alongside individual stocks, more thematic ETFs have emerged to cover the sector. The Roundhill Sports Betting & iGaming ETF (BETZ), for example, is up more than 30 percent year-to-date, underscoring investor confidence. Yet risks remain. Stricter regulations and licensing fees cut into margins, while legal disputes — such as ongoing cases in Europe over past betting losses — could trigger billion-dollar repayments. Public concerns over gambling addiction and consumer protection are another challenge for the industry’s image.
For investors, sports betting remains a high-growth but high-risk play. The sector offers enormous potential, but careful analysis of each company’s business model, regulatory exposure, and cost structure is essential before placing a bet on the stock market.