Sports Betting ETF Hits Record on Cuomo’s Legalization Support
- New York governor’s change of heart spurred by budget deficit
- Roundhill sports betting fund jumped as much as 4.3% intraday
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The biggest sports betting exchange-traded fund rallied as New York Governor Andrew Cuomo announced that he will support legalizing these wagers to help fill the state’s nearly $16 billion budget deficit.
The Roundhill Sports Betting & iGaming ETF (BETZ) jumped as much as 4.4% to an all-time high. One of its 39 components, DraftKings Inc., rose as much as 8.9%.