“Da da da da…” NFL football is back! Today marks the start of a new season for football fanatics everywhere. For fans of sports betting stocks, this happens to be a season to watch as well.
Shares of major sports betting stocks, including Penn National Gaming (NASDAQ:PENN), Caesars Entertainment (NASDAQ:CZR) and DraftKings (NASDAQ:DKNG), are all in the green today. Indeed, it appears the giddiness can’t be controlled ahead of kickoff.
Recent news that the NFL has finally embraced gambling on games has driven sports gambling stocks higher in recent months. Indeed, today’s positive move across the sports-gambling sector appears to simply be a continuation of this trend.
Let’s dive into why investors appear to like these sports betting stocks right now.
The NFL Season Is the Latest Catalyst for Sports Betting Stocks
Indeed, today’s kickoff of the inaugural game of the 2021-2022 NFL season is great for fans and investors in sports gambling stocks alike. The NFL season brings with it a tremendous amount of gambling revenue for casino operators such as Caesars. However, Penn National Gaming and DraftKings are also key beneficiaries of this season.
For DraftKings, a recent non-fungible token (NFT) deal with the NFL, among other leagues, has stoked interest in this sector. Each of the three aforementioned stocks have found ways to capitalize on the surge of interest (and money) that the NFL season brings.
Additionally, commentary around the NFL allowing betting lines to be used to contextualize a given game has provided another boost for sports betting stocks. Investors hope to see more interest flood to an already hot driver of gambling revenues.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.