- Legal States
Julie Moraine November 19, 2021 3 min read
iBET’s Launch Brings Sports Betting and Gaming to Wall Street
Inherent Wealth Fund, a registered investment adviser focused on thematic and sector-specific investing, announced the launch of the first and only actively managed sports betting and gaming exchange-traded fund (ETF).
First Managed Sports Betting and Gaming ETF
iBET Sports Betting & Gaming ETF, an ETF designed to appeal specifically to the next generation of investors, is trading on the NASDAQ and managed by Inherent Wealth Fund founder and CEO Jeffrey Kamys and his team. Kamys alone brings more than 15 years of industry experience across fantasy sports, sports analytics and the sports world.
Speaking about the EFT launch, Kamys noted the excitement around the growth opportunities the sports betting legalization wave across the US is creating, outlining the recent entry of a subsidiary of Walt Disney “into the sports betting arena” as a signifier that “sports betting in the United States has arrived both on Main Street and Wall Street.”
Implementing innovative strategies and solutions for individuals, families and institutions, and fully understanding the impact of technological advances on the market, Inherent Wealth Fund is seeking to stay ahead of the curve, the company’s website claims.
ETF Structure and Constituents
The iBet Sports Betting & Gaming ETF is a new opportunity for investors who follow the rapid expansion of the sports betting industry in the US, which is yet to achieve its full potential. The ETF is structured in a diversified way, with each constituent of the fund’s holdings bearing less than 4% weight.
A quick look at the fund reveals the first dozen constituents ranked by their respective weight features the biggest players on the gambling scene, including land-based casino operators Caesars Entertainment, Las Vegas Sands, Wynn Resorts and Penn National Gaming, with holdings ranging from 3.72% to 2.55%
Leading digital operators DraftKings, Flutter Entertainment, PointsBet, 888 Holdings and Rush Street Interactive (RSI), as well as gaming technology companies Scientific Games (SG), Evolution and Kambi, complete the list, bearing between 3.76 and 2.76% weight in the ETF.
The ETF also features sports media group Catena Media and FuboTV, real estate investment trust VICI Properties, esports product and tech supplier Esports Technologies, as well as international casino operators like The Star Entertainment Group, Melco Resorts and Crown Resorts.
Warning investors that they should carefully consider their investment objectives prior to embarking on any investment as it involves risk, including possible loss of principal, Inherent Wealth Fund outlined the ETF holdings do not constitute any solicitations or purchase recommendations and are subject to change.
ETF trading is market-based and does not necessarily reflect net asset value (NAV) as shares may trade at a premium or discount to their NAV in the secondary market, while commissions for intermediaries may further impact investor returns.