Would you like to profit from legal online sports betting? Sports betting stocks are very volatile and risky. A good way for most investors is to buy an ETF. The following post previously published in ZYX Global Multi Asset Allocation gives you the name and the buy zone for the best ETF.
March Madness shows that online sports betting is catching fire. There is an increasing migration from illegal sports betting to legal sports betting. To increase tax revenues, more and more states are in the process of allowing online sports betting. Until recently, many were concerned about the adverse effects on society by governments promoting widespread gambling. Online gambling makes every smartphone a gambling device. The concern has almost gone away because politicians have discovered an elixir to all societal issues. The elixir is reckless borrowing and money printing. The prevailing wisdom is that reckless borrowing and money printing is a free lunch and is the best way to compensate for societal issues.
We do not agree with the prevailing wisdom but an investor’s job is to make money. Sports Betting & iGaming ETF (BETZ) is the ETF of choice. Individual sports betting stocks are very volatile. For most investors, this ETF is a good way to reduce the risk of individual stocks.
BETZ is overbought due to enthusiasm leading to March Madness. Most investors are better off patiently waiting for a pullback. For this reason, the Buy Now rating for those following the Good Way is ‘NO’.
For those following the Best Way, the buy zone is $25.02 to $28.88.
There is 0 – 3% allocation in the Low Risk Model Portfolio. There is 0% allocation in the Lower Risk Model Portfolio.
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This post was published on ZYX Global Multi Asset Allocation Alert.
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