Roundhill Sports Betting & iGaming ETF (BETZ) Wheel Strategy

Running a BETZ wheel strategy lets you generate consistent premium income on Roundhill Sports Betting & iGaming ETF while setting your own entry and exit prices on the underlying. Roundhill Sports Betting & iGaming ETF's wheel combines cash-secured puts and covered calls into a repeatable cycle: sell puts at strikes where you'd be happy to own BETZ, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best BETZ wheel strategy setups in real time.

The wheel works best on liquid, high-quality names with stable fundamentals and active options markets — exactly the profile many large-cap leaders fit. The mechanics are simple: sell a cash-secured put on BETZ, collect premium, and either keep the premium if it expires worthless or take assignment at a discount to current price. Once assigned, sell covered calls against the shares to keep collecting premium until they're called away. Choosing the right strikes, expirations, and IV environment is what separates a profitable BETZ wheel from a losing one.

Roundhill believes that an improving regulatory environment results in a compelling investment thesis for sports betting and iGaming companies. The Roundhill Sports Betting & iGaming ETF (“BETZ”) is the world’s largest gambling ETF. BETZ seeks to track the performance of the Morningstar Sports Betting & iGaming Select Index.

The difference between a wheel that compounds and one that bleeds comes down to strike selection, IV timing, and discipline on assignment. Our scanner handles the heavy lifting: it ranks every leg of the BETZ wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your BETZ wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.