Michael Burry, the investor who inspired the movie The Big Short, has bought shares in Flutter and DraftKings, expressing confidence that the sportsbooks can overcome the threat of prediction markets.
Michael Burry, known for his successful bets against the housing market in 2008, has shown faith in the potential of Flutter and DraftKings by investing in their shares. He believes that despite challenges from prediction markets, these leading sportsbooks in the U.S. have strong underlying businesses that are undervalued in the market.
Burry shared his views on Substack, highlighting his positive outlook on the sports betting industry and the resilience of companies like Flutter and DraftKings in navigating the evolving landscape of online betting and gaming.
