Sports Betting Companies Taking the Losing Side This Year?

Matt Montefusco talks basketball sports betting, seeing a 15% increase over last year for this year’s NCAA Basketball Tournaments. However, he notes that sports betting companies haven’t had the best year, profit-wise, since they make money off winning their side of the bets. He still likes the sports sector best overall in the gambling arena. Zach Warring is turning “a little more positive” on DraftKings (DKNG) after its recent pullback, saying it and Flutter (FLUT) are well-positioned.

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