Michael Burry has disclosed new equity positions in Flutter Entertainment and DraftKings, marking a significant contrarian bet on the sports-betting sector.
The filing reveals that the investor, known for his successful short position ahead of the 2008 financial crisis, is accumulating shares in both companies despite recent sector-wide underperformance.
The move suggests Burry views the current valuation levels as a buying opportunity rather than a reflection of structural decline.
By targeting both the UK-listed Flutter and US-listed DraftKings, the investor appears to be wagering that regulatory scrutiny and market sentiment have created an asymmetric risk-reward profile for the industry.
This disclosure comes as the sports-betting sector has faced pressure from evolving regulatory landscapes and competitive dynamics.
Burry’s entry into these positions adds a layer of high-profile validation to the thesis that the sector’s recent struggles are cyclical rather than permanent.