Top Sports Betting Stocks to Watch: Why DraftKings and Flutter Are Must-Owns for the NFL Season

• Parlays, structural hold are points of emphasis for investors, says analyst
• DraftKings/FanDuel duopoly still entrenched, hard to crack

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Top Sports Betting Stocks to Watch: Why DraftKings and Flutter Are Must-Owns for the NFL Season. Discover more about [N/A – Quick Run]. As the excitement builds for the start of the NFL season and college football gains momentum, fans are looking for more ways to engage with their favorite teams through the thrill of sports betting. This surge in seasonal interest creates a promising environment for investors tracking the gaming sector, particularly with betting stocks such as DraftKings (NASDAQ: DKNG) and Flutter Entertainment (NYSE: FLUT). These companies are strategically positioned to capitalize on the massive influx of activity that sports betting brings to the market during the football season.

Many investors are optimistic about holding shares in these two sports betting giants as the season kicks off. This optimism stems not only from the seasonal changes in betting behaviour but also from a prior four-quarter period marked by customer-friendly outcomes, paving the way for more favourable comparatives going into 2025.

Conversely, shares in these sports betting powerhouses could be buoyed by enhanced same-game parlay product offerings, a stable environment for promotional spending, and the exit of smaller, struggling competitors.

DraftKings, FanDuel Duopoly Faces Competition

It’s common knowledge that DraftKings and FanDuel dominate the U.S. online sports betting market, holding over 80% market share. Despite this, competing firms are making efforts to penetrate the market and gain a share, especially in the current football season.

Potential challengers include BetMGM, a collaborative venture between Entain and MGM Resorts International (NYSE: MGM), alongside Penn Entertainment’s (NASDAQ: PENN) ESPN Bet. Stantial has also flagged Fanatics as a formidable new competitor against DraftKings and FanDuel.

We anticipate that several companies will attempt to increase their market share this football season, particularly PENN as they enhance ESPN integrations and move towards a late-26 opt-out option,” Stantial mentions. “Notably, Fanatics seems well-positioned with a strong #3 OSB product and consistent promotional investments above market.

Data indicates that Fanatics has been steadily increasing its footprint in both iGaming and sports betting, particularly achieving significant market share gains in New York.

It’s All About Parlays and Structural Hold

Investors should closely monitor DraftKings and Flutter’s innovations concerning parlay offerings and structural hold, especially as there’s a trend where prediction markets are moving towards parlays.

The growth of parlay mix and structural hold is critical, particularly coming out of a Q2 report which demonstrated more tempered growth compared to peers (70bps against ~100bps),” stated Stantial regarding Flutter. “Recent product enhancements have been largely incremental, and user adoption of Flutter’s foundational ‘Your Way’ feature will be pivotal in reigniting parlay mix and structural hold growth.

Stantial highlights that DraftKings has seen parlay mix and structural hold growth rates that exceed those of Flutter recently. Still, DraftKings is experiencing strong live betting handle, which surpasses its pregame handle—an element that could negatively affect parlay mix and overall hold.

This season, keep an eye on these factors, as they could significantly influence the stocks of both companies.

Conclusion

The intersection of sports betting and the excitement of the NFL season provides an opportune moment for investors to evaluate stocks like DraftKings and Flutter. The dynamics of the betting landscape are evolving rapidly, and those watching these changes closely will find potential investment opportunities amidst the challenges and competition they face.

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