Betting Season Is Here: How to Play the Wagering Boom

“Smart money” is leaning into sports betting ahead of football season as the NFL and college schedules kick off—a period that historically spikes betting activity. Institutional investors have sharpened their focus on ETFs specializing in sports betting and i-gaming. With the US sports betting market expected to smash revenue records—already surpassing $13 billion in 2024 and forecasted to hit $17.5 billion in 2025—major players like DraftKings and FanDuel dominate, holding more than 72% market share. Wall Street's appetite for “digital casinos” is fueling flows into funds capturing this narrative, while regulatory expansions keep the sector in the spotlight.

Two Ways to Play It

BETZ (Roundhill Sports Betting & iGaming ETF) Pure-play exposure to online sportsbooks/iGaming and their tech suppliers. Top holdings include Flutter (FanDuel), DraftKings, Entain, Betsson, and Lottomatica—names most levered to U.S./global betting growth. Expense ratio: 0.75%.

BJK (VanEck Gaming ETF) Broader, global gaming exposure spanning casinos, Macau names, lottery operators and betting platforms. Current top weights include Flutter, DraftKings, Las Vegas Sands, Galaxy Entertainment and VICI Properties. Net expense ratio: 0.67% (cap to 0.65% through at least Feb 1, 2026).

How they differ: BETZ is a higher-beta, theme-pure basket tilted to digital operators and suppliers; BJK mixes digital with destination casinos and REITs, adding China/Macau cyclicality to the story.

Context: the stronger BETZ print aligns with online-centric leadership during the summer run-up to football, while BJK’s recovery reflects improving Macau/land-based trends alongside U.S. operators.

Outlook, Trends, What to Watch

Seasonality tailwind: NFL/college kickoff typically boosts handle and promotional intensity—good for top-line growth at listed sportsbooks (DKNG/FLUT exposure inside both ETFs).

Macau momentum: Rising visitation and steady GGR gains keep the reopening uptrend intact—supportive for BJK’s casino heavyweights.

Digital Disruption: Traditional Las Vegas operators now compete with nimble, tech-driven contenders, as regional and digital channels outpace old-guard casinos.

Risks: Advertising scrutiny and potential federal action on gambling marketing could pressure customer acquisition spend and sentiment; macro slowdowns can hit discretionary gaming budgets.

Insight & Retail Investor Opportunities

While BETZ has delivered stronger returns, BJK provides a diversification buffer with its mix of traditional casino equities. For retail investors, sector ETFs offer liquid, diversified entry points into gaming’s transformation—although risk tolerance is vital. Digital leaders like DraftKings and Flutter provide the most upside, while established casino operators offer steadier but slower growth.

Outlook: Betting Big on Beta

Looking ahead, institutional flows and retail enthusiasm are likely to remain robust. Continued legal adoption, coupled with technological innovation and consolidation, sets the stage for ongoing competitive battles and further upside for sector ETFs. Savvy investors will track regulatory advances, digital expansion, and earnings surprises, betting on the sector’s ability to deliver outsized returns in a volatile, fast-moving landscape.

Quickly match up BETZ and BJK side by side with our ETF Compare Tool