Skip to content

March Madness Fuels Rebound in Sports-Betting Stocks

  • The BETZ exchange-traded fund has rallied most ever this week
  • Both DraftKings and Penn National have best week since Feb
DraftKings Sinks On Share Sale And Virus Wreaking NFL Havoc
Photographer: Gabby Jones/Bloomberg

There may be only one Super Bowl for sports fans, but for betting stocks there are several -- and March Madness is one of them.

In the first week of the NCAA men’s basketball tournament, sports betting stocks have rebounded. The Roundhill Sports Betting & iGaming exchange-traded fund (BETZ) has jumped 12% since Tuesday, the most ever for the ETF. DraftKings Inc. and Penn National Gaming Inc. are among its top holdings and have also jumped in the same span, with DraftKings soaring 29% and Penn National rising 11%.