Thanksgiving and football go hand in hand, offering Americans a double dose of tradition and excitement. While sports betting is a global pastime, U.S. bettors are especially eager to wager on this week’s packed football schedule.
According to Macquarie analyst Chad Beynon, U.S. bettors are expected to place $4.5 billion in wagers during Thanksgiving Week (Nov. 25 – Dec. 1). This marks an 11% year-over-year increase, with football, led by the NFL, driving the bulk of the action.
Thanksgiving Football Drives Betting Surge
Football remains the most popular sport for U.S. bettors, and this Thanksgiving could set new records. With 38 states and Washington, DC now offering legal sports betting, Beynon forecasts a 15% rise in betting volume compared to last year. The NFL’s Thanksgiving schedule features three games, followed by a Black Friday showdown between the Kansas City Chiefs and Las Vegas Raiders, and the usual Sunday lineup.
College football adds even more opportunities, with games scheduled throughout the week, including a full slate on Friday.
Operators Poised to Win Big
While increased betting will boost the overall gaming sector, not all operators will benefit equally. Industry leaders like Flutter Entertainment (NYSE: FLUT) and DraftKings (NASDAQ: DKNG) are expected to maintain their dominant positions, but smaller competitors could gain ground.
Beynon highlights Bally’s (NYSE: BALY), Caesars Sportsbook, and Rush Street Interactive (NYSE: RSI) as potential winners, noting they could see the largest gains in their “hold” – the percentage of wagers kept as revenue. BetMGM is also in a strong position, following two weeks of higher-than-average hold rates.
In New York, recent data shows DraftKings and Caesars gaining market share, hinting at a strong performance heading into the holiday.
Betting Stocks Look Promising
Beynon remains optimistic about stocks tied to sports betting, assigning “outperform” ratings to companies like Caesars Entertainment (NASDAQ: CZR), DraftKings, Penn Entertainment (NASDAQ: PENN), and Rush Street Interactive.
He emphasizes the appeal of online gaming operators, citing their robust growth potential.
Conclusion
Thanksgiving Week is shaping up to be a blockbuster for football and sports betting alike. With billions on the line, both bettors and operators have plenty to be thankful for this holiday season.
Explore the best online betting site Singapore with Octabet betting news. Start winning today! Register now!