Is FanDuel stock the golden ticket investors have been searching for? And more importantly, is FanDuel publicly traded? Fanduel online sports betting has been picking up steam ever since the U.S. Supreme Court legalized it in May 2018, growing to $83.6 billion.
Since then, more and more states have been legalizing online sports betting. The floodgates are open and investors and gamblers alike are looking to take advantage.
Today, we’ll be talking about why buying FanDuel stock may give investors an edge compared to other sports betting stocks.
FanDuel Group, Inc. is a leading online sports betting and gaming company in the United States. While FanDuel is only available in the U.S., so gamblers are working around it.
With users around the world changing their IP addresses to reflect U.S. locations, technically the app is international. FanDuel provides users with a wide range of sports betting options. From popular sports like football, basketball, and baseball to more niche sports like tennis and MMA.
FanDuel also offers daily fantasy sports contests, which allow users to compete against each other for cash prizes. Join Wealth Daily today for FREE. We’ll keep you on top of all the hottest investment ideas before they hit Wall Street. Become a member today, and get our latest free report: “Why You Need to Fire Your Money Manager.”
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The company was revolutionary from the beginning. Founded in 2009, FanDuel changed the face of fantasy sports. By allowing their audience the chance to play one-day fantasy games for cash prizes, they changed the game — literally.
In addition to its sports betting offerings, FanDuel has also expanded into online casino gaming, offering a variety of games. Users can now partake in slots, blackjack, and roulette all online.
Overall, FanDuel is a well-established and respected brand in the online gambling industry. Their user-friendly platform, competitive odds, and generous promotions have made them quite popular.
With more doors only opening for FanDuel, it’s hard to make a case against them. But before you invest in FanDuel stock, there are some things you should consider.
Is FanDuel Publicly Traded?
When it comes to the question of whether or not FanDuel is publicly traded, there is good and bad news. The bad news is that FanDuel is not a publicly traded company. This means that you cannot buy their stock directly.
The good news is that FanDuel has a parent company, Flutter Entertainment, in which you can invest in. While you can’t buy FanDuel stock right now, that doesn’t mean it won’t be an option in the near future.
Analysts have speculated that FanDuel could be listed on U.S. stock exchanges by Q4 in 2023. In the meantime though, investing in Flutter Entertainment is your best bet to gain exposure to FanDuel stock.
No American market exchanges currently list Flutter Entertainment. However, you can purchase Flutter stock using the Canadian ticker symbol OTC: PDYPY.
Just how big is FanDuel? Well, the company reported that it accepted 50,000 bets per minute at peak levels during Super Bowl LVII. That’s a lot of transactions and revenue in just one minute. 2020-2021 was a great time period for IPOs and stocks in general. However, things started to take a turn in Q4 of 2021. Perhaps that's why FanDuel is waiting to go public. They could be waiting for market conditions to turn around.
Just look what happened to DraftKings Inc (NASDAQ: DKNG):
As you can see, DKNG has an amazing IPO. Soaring from $20 per share to as high as almost $73 before coming back down to as low as $10.69. But now that markets are becoming more bullish, we could see Flutter and FanDuel preparing to make a move.
There are other online sports betting stocks you can invest in while you wait. In addition to Draft Kings (NASDAQ: DKNG), investors can turn to Ceasars Entertainment Inc (NASDAQ: CZR) or MGM Resorts International (NYSE: MGM).
Rather than invest in a sports betting company that you don't believe in, you can always wait for the FanDuel IPO date.
FanDuel IPO Date
FanDuel could become a publicly traded stock by November 30, 2023. However, as we rapidly approach Q4 with no IPO updates, it could mean we'll have to wait until 2024.
Most analysts agree that FanDuel will go public in Q4 2023. At the end of the day, an official announcement is necessary for confirmation. We do know that millions of investors will 'bet' on FanDuel when it becomes available.
Chief investment strategist for the exchange-traded fund (ETF) iBet, Jeffrey Kamys, said “FanDuel would be the Apple of our industry, it would be our top holding if they went public.” That’s quite high praise and a great sign for potential FanDuel investors. It would also make sense why you wouldn't want to settle for buying DKNG or MGM.
Investors are eagerly awaiting the IPO announcement. While they wait, Flutter is in talks about listing on an American stock exchange. They believe that listing on an American exchange would open more doors for the company and we agree. It is hard to see any adverse effect Flutter may experience by listing on the NYSE or Nasdaq. Perhaps they don't perform as well, in which case FanDuel may consider delaying their IPO even further.
If you want to gain exposure to FanDuel but don’t want to wait until their IPO, Flutter is a decent compromise. While it’s not exactly the same thing as buying FanDuel stock directly, investing in Flutter is the next best thing.
When FanDuel stock does become a real option for investors, you can bet that it will become the top online sports betting company. However, that's not to say their competition won't be tough. While DKNG took a hit, they are recovering nicely. In fact, MGM and CZR took similar hits when the market turned, and they're recovering even better:
As you can see, buying these select sports betting stocks would not have been a bad bet during the market dip. However, those with patience for the FanDuel IPO could be handsomely rewarded.
Final Take on FanDuel Stock
FanDuel Group, Inc. is a well-established and respected brand in the online gambling industry. While you will have to wait to buy shares of FanDuel stock, you can buy shares of their parent company Flutter.
While you can purchase shares of Draft Kings, Cesar Entertainment, MGM, or even sports betting ETFs such as iBET Sports Betting and Gaming, many eagerly away the FanDuel IPO. Once FanDuel stock is available on the market, wise investors and day traders alike will be lining up to buy it.
The ones to make real money from FanDuel stock and its IPO will be the investors who got in while it was still a private company. Investing in private companies is a tried and true strategy used by billionaires and angel investors around the world.
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