A historic decision by the Supreme Court is going to open the floodgates for legal sports betting throughout the country, and there will be billions of dollars pouring in.
Unfortunately, many of the gambling stocks you'll hear about in the mainstream media are overvalued and not worth buying.
That's why we're going to give you a better option to capitalize on this booming market, and it's a unique one at that...
Legalized Gaming Will Soar Thanks to Sports Betting
On May 14, the Supreme Court handed down a landmark decision that effectively opens the door to legalized sports betting nationwide. The decision struck down a federal law that forbade U.S. states from allowing sports betting on professional and college-level sports.
In the past, if you wanted to place a bet on a sporting event, you needed either to fly to Vegas or locate a black market bookie to take your cash.
But thanks to the Supreme Court's decision, within the next few years, as many as 20 U.S. states could have legal sports betting.
Of course, it's a virtual guarantee that the gambling stock price on any casino or other gaming-related stock is now more inflated than ever.
The first step on your road to millions starts here: All you need is a computer or smartphone and just 10 minutes of "work" to potentially put $1 million in your bank account faster than you ever dreamed. Read more...
The investment we've uncovered has nothing to do with smoky casinos or sports facilities that are mired in debt.
Here's how retail investors can jump in on this once-in-a-lifetime profit play...
If You're Looking for Gambling Stocks, Buy This Instead
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The states that have legalized sports gambling have large debts and need the tax revenue.
Sports gambling could produce $3.4 billion a year in taxes for states and local governments, according to Oxford Economics.
And the best way to make money right now on the coming wave is to buy shares of funds that own the debt of states poised to legalize sports gambling.
For us, that state is Pennsylvania.
You see, Pennsylvania was ready and waiting for this to happen. In 2017, it launched a gambling expansion law that authorized sports betting as soon as a federal court made it legal for states to regulate bets.
They are already prepared to get sports betting up and running.
With that in mind, we love the Nuveen Pennsylvania Investment Quality Municipal Fund (NYSE: NQP).
It pays an annualized dividend payout of $0.61 (4.81% dividend yield), and it creates income that is exempt from federal income taxes.
That's a nice stream of money.
Digging under the hood, the fund holds debt that finances the state's turnpike, different county operations, and higher education facilities.
The portfolio manager, Paul Brennan, has been in the financial services industry since 1991. He joined Nuveen in 1997, and he helped it climb from $7.66 during the 2008 recession to $12.63 per share today.
That's a 64% return in 10 years.
Look, we are well aware that owning state debt isn't that exciting.
But it will make you money.
And when Wall Street wakes up and realizes sports gambling will be a huge boon for Pennsylvania, a flood of funds will start pouring in.
Being ahead of the curve, Money Morning readers could score a quick double-bagger on this investment fund.
That's because you're buying a portfolio that is trading at a 15.2% discount to its net asset value, which means the market is undervaluing this investment.
You're buying the state's debt for less than it's worth, paying $0.85 for every dollar.
It's always a joy when we're able to reach into the bargain bin and capitalize on a trend well before it becomes mainstream.
It Only Takes 10 Minutes per Week to Double Your Way to $1 Million
This extraordinary money-doubling strategy has the power to profoundly impact your financial future.
You don't need any special training... any insider knowledge of the markets... or any exceptional skills.
In fact, all you need is a computer or smartphone and just 10 minutes of "work" to potentially put $1 million in your bank account faster and easier than you ever dreamed.