10 Best Gambling Stocks To Buy According to Hedge Funds

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1. Flutter Entertainment plc (NYSE:FLUT)  

Number of Hedge Fund Holders: 69  

Market Capitalization as of December 3: $49.49 Billion  

Flutter Entertainment plc (NYSE:FLUT) is a global leader in sports betting and gaming. The company owns brands such as FanDuel, Paddy Power, and PokerStars. Flutter Entertainment plc (NYSE:FLUT) serves millions of customers worldwide through its online gaming and retail platforms. In Q3, Flutter Entertainment plc (NYSE:FLUT) had 12.92 million average monthly users, which represents a 16% increase compared to the same quarter in the previous year.

Flutter Entertainment plc (NYSE:FLUT) has invested heavily in the U.S. market, with FanDuel becoming a dominant force in sports betting. Furthermore, the company is also focusing on innovation, customer engagement, and regulatory compliance to drive growth in both established and emerging markets.

The U.S. market remains a pivotal growth driver for Flutter Entertainment plc (NYSE:FLUT). In Q3, the company’s U.S. revenue surged 51%, supported by a 62% increase in sportsbook revenue and a 46% rise in iGaming revenue. Internationally, Flutter Entertainment plc (NYSE:FLUT) continues to expand its footprint, with a revenue growth of 17%, combined with a 29% EBITDA increase in the UK and Ireland and solid growth in Australia. The company has also planned market entries into Alberta, Canada, and Missouri, USA, in 2025 to tap new opportunities and increase market presence. Looking ahead, Flutter Entertainment plc’s (NYSE:FLUT) 2024 guidance reflects confidence in its growth strategy, with an expected $6.15 billion in U.S. revenue and $8.2 billion for its group ex-U.S. markets.

While we acknowledge the potential of Flutter Entertainment plc (NYSE:FLUT) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FLUT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

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