Gambling Stocks and Christian Screening: A Comprehensive Guide to Values-Based Investing

For many Christian investors, the question of whether to own stocks in gambling companies presents a straightforward case of scriptural principle. The Bible repeatedly warns against gambling and covetousness, and companies built on encouraging people to gamble seem fundamentally at odds with Christian values. Yet the practical reality for Christian investors is more nuanced, and understanding the gambling industry, Christian teaching on the subject, and how various Christian funds approach gambling stocks can help investors make thoughtful decisions.

This guide explores gambling stocks through a Christian lens, examines how different Christian investment funds approach them, and provides frameworks for Christian investors to evaluate gambling companies within their portfolios.

What Constitutes Gambling and the Gambling Industry

Modern gambling extends far beyond traditional casinos. The industry encompasses:

• Land-based casinos – traditional casino operations with slot machines, table games, poker rooms
• Sports betting – betting on sporting events, now increasingly legal across the United States
• Fantasy sports – companies like DraftKings and FanDuel where players construct fantasy teams and compete for cash prizes
• Online casinos and poker – internet-based gambling platforms
• Lotteries – state-run and private lottery operations
• Gaming machines – slot machines and electronic gaming terminals

The gambling industry has undergone dramatic transformation in the past decade. What was once concentrated in a few states and regions has expanded dramatically. Sports betting, long illegal in most of the United States, is now legal in over 30 states. Online gambling platforms have proliferated. Fantasy sports transformed from a niche hobby to mainstream entertainment drawing millions of participants.

This expansion has created major investment opportunities and challenges for Christian investors.

Major Gambling Industry Stocks

Several major public companies dominate the gambling industry, and they’ve become increasingly prominent in portfolios of both Christian and secular investors.

Caesars Entertainment (CZR) recorded revenue of approximately $11.5 billion in 2025, with operationsonal casinos, and digital platforms. The company has benefited from its regional casino network and sports betting operations. MGM operates approximately 30 casino resorts globally and has significant digital gambling operations.

Las Vegas Sands (LVS) focuses primarily on premium casino resorts, with major properties on the Las Vegas Strip and significant operations in Macau and Singapore. Revenue from these properties totals in the range of $10-13 billion annually.

Wynn Resorts (WYNN) operates luxury casino resorts in Las Vegas, Macau, and Boston. The company emphasizes high-end gaming experiences and luxury hospitality. Revenue approaches $10 billion annually, though with heavy concentration in international markets.

These major casino operators have benefited substantially from:

• Legalization of sports betting – Following a 2018 Supreme Court decision, sports betting became legal in most states, opening new revenue streams for established casino operators
• Online gambling expansion – Growing legalization of online sports betting and online casinos
• Recovery from pandemic – Pent-up demand for leisure and entertainment driving strong performance
• International growth – Particularly in Asia, where gaming volumes have grown substantially

The financial performance of major casino operators has been strong, with rising stock prices, increasing dividends, and positive earnings growth. This attractive financial performance is precisely why these stocks appear in many portfolios, including Christian-screened portfolios—a point of contention among some Christian investors.

Competitive dynamics for operators.

DraftKings and FanDuel Domination

Draftitive dynamics for operators.

DraftKings and FanDuel Domination

DraftKings and FanDuel have come to dominate the daily fantasy sports and sports betting markets. DraftKings went public through a SPAC merger in 2020 and has become the larger company, with a market capitalization exceeding $7 billion at times, though volatile. FanDuel was acquired by Flutter Entertainment, a UK-based gambling company.

These companies created and dominate what some view as a form of gambling (fantasy sports and sports betting) that is significantly more engaging to younger demographics than traditional casino gambling. The ability to use skill and research in fantasy sports creates a blurred line between gambling and game playing.

The financial performance of DraftKings and FanDuel reflects the explosive growth in sports betting following legalization. Customer acquisition costs have been substantial as companies compete for market share, but the underlying customer lifetime value economics appear compelling to investors.

What the Bible Says About Gambling

The Bible does not explicitly mention gambling by name, but biblical passages address principles relevant to gambling.

Biblical Warnings Against Gambling

While Scripture doesn’t use the word “gambling,” it contains strong warnings against the attitudes and behaviors that gambling embodies:

Dependence on God rather than chance: Scripture consistently emphasizes trusting God for provision and rejecting reliance on chance or fortune. The practice of casting lots in Scripture was different—it was a means of discerning God’s will in important decisions. It was never used for money-making or personal enrichment through games of chance.

Warnings against covetousness: Gambling is fundamentally driven by covetousness—the desire to gain others’ money and possessions at their expense. Proverbs 12:27 states that “The lazy person doesn’t roast game, but the diligent person prizes his possessions.” Covetousness violates the tenth commandment (Exodus 20:17).

Provision comes from honest work: Paul writes in 1 Thessalonians 4:11-12, “…make it your ambition to lead a quiet life: You should mind your own business and work with your hands…so that your daily life may win the respect ofd reached a critical mass. Early-adopting states like New Jersey, Pennsylvania, and Nevada showed that sports betting could generate substantial tax revenue and customer engagement. As more states legalized, the market potential became massive, driving investor interest in both established casino operators and new entrants like DraftKings.

International expansion: Traditional casino gambling markets in Asia, particularly Macau and Singapore, have seen explosive growth. The expansion of middle and upper-class populations with disposable income has driven demand for luxury gaming experiences. Major operators like Las Vegas Sands and Wynn have substantial operations in these markets.

These factors have created a compelling financial case for gambling stocks. Investors who focus purely on financial returns have found gambling companies attractive due to strong revenue growth, reasonable valuations at various points, and increasing market size.

For Christian investors, however, this financial attractiveness creates a dilemma: a company that encourages gambling and profits from addictive behavior doesn’t align with Christian values, regardless of its stock performance.

Christian Teaching on Gambling

Different Christian traditions have developed nuanced perspectives on gambling, though broad consensus reflects agreement on gambling’s incompatibility with Christian values when practiced as recreation or entertainment.

Biblical Principles Relevant to Gambling

Christian perspectives on gambling typically reference several biblical themes:

Idolatry of money and greed: Gambling often embodies an idolatrous attitude toward money, treating financial gain as an end in itself rather than a means to responsible stewardship. Jesus taught that “you cannot serve both God and money” (Matthew 6:24). While legitimate wealth-building through investment is acceptable, gambling’s central motivation—quick enrichment through chance—conflicts with this teaching.

Care for the vulnerable: Scripture repeatedly emphasizes God’s concern for those most vulnerable to exploitation. Gambling companies profit by encouraging people—particularly those struggling financially—to spend money they can ill afford to lose. This conflicts with Christian responsibility to protect the vulnerable.

Stewardship rather than risk-taking for excitement: Christian teaching emphasizes responsible stewardship of resources. This stands in contrast to gambling’s inherent risk-taking for entertainment or profit.

Christian Consensus and Diversity

Historically, Christian denominational bodies have strongly opposed gambling. The Roman Catholic Church teaches that gambling is permissible in moderation but problematic when it becomes an addiction or when it exploits the poor. Mainstream Protestant denominations similarly have teachings opposing gambling, though specific language and emphasis varies.

Pentecostal and evangelical churches typically present a very strong consensus reflection agreement on gambling as incompatible with faithful Christian stewardship, with gambling explicitly excluded due to concerns about excessive risk and associations with vice industries.s ultimately belong to God. Proverbs 12:27 states that “The lazy person doesn’t roast game, but the diligent person prizes his possessions.” The emphasis is on provision through work and wise stewardship, not on chance or gambling.

Avoiding addiction and captivity: The Bible speaks of avoiding anything that could lead to captivity or addiction. Paul writes, “I will not be mastered by anything” (1 Corinthians 6:12). Gambling, particularly for vulnerable individuals, can create destructive addictive patterns.

Honesty and fair dealing: Scripture emphasizes honest dealings and fair transactions. Gambling, even when legal, involves attempting to gain at others’ expense through games of chance—there’s no underlying value creation.

The Distinction Between Investment and Gambling

An important distinction exists between genuine investing and gambling. Both involve risk, but they differ fundamentally:

• Legitimate investment takes a stake in a productive enterprise that creates goods, services, or value. There is economic substance behind the return on investment.
• Gambling is a zero-sum game where one person’s gain equals another’s loss. No value is created through the transaction itself.

From this perspective, owning stocks in productive companies (even those with some gambling operations) differs from gambling itself. However, owning stocks specifically in gambling companies means profiting from encouraging gambling behavior—which is the distinct concern for Christian investors.

How Christian Investment Funds Approach Gambling Stocks

Christian mutual funds take different approaches to gambling stocks, reflecting both theological conviction and practical investment considerations.

Complete Exclusion

Most explicitly Christian investment funds completely exclude gambling stocks. Companies deriving revenue from casinos, sports betting, online poker, or other gambling operations are screened out entirely. This reflects the strong Christian consensus that gambling is morally problematic, and Christians should not profit from encouraging gambling.

eking God’s will in important decisions. It was never used for money-making or personal enrichment. The decision-making process in the early church included prayer, seeking God’s guidance, and casting lots in that context (Acts 1:24-26). This contrasts sharply with gambling, which involves no such discernment and is driven purely by the desire for personal gain.

Trusting God’s provision: Scripture repeatedly teaches trusting God for provision rather than relying on chance. Proverbs 3:5-6 states, “Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight.” This trust in God’s provision and guidance contrasts with gambling’s reliance on chance.

The consistent biblical pattern teaches that:

• Provision comes from honest work, not chance (Proverbs 13:11)
• Honest dealings are required in all transactions (Leviticus 19:35-36)
• Covetousness is explicitly forbidden (Exodus 20:17, Colossians 3:5)
• Care for the vulnerable and poor is a fundamental Christian responsibility (Matthew 25:31-46)
• Stewardship of resources is a core Christian calling (1 Peter 4:10)

Given these principles, gambling—whether participating in it or profiting from it through stock ownership—sits in tension with biblical teaching. This theological reality is why Christian investment funds almost universally exclude gambling stocks.

Different Christian Perspectives on Investing in Gambling Companies

While Christian teaching consistently opposes gambling as a personal activity, some Christian investors and advisors have questioned whether owning stocks in gambling companies presents a categorically different issue. A few more moderate voices suggest that:

• If Christians can work at restaurants that serve alcohol, why not own restaurant stocks?
• If Christians can own stocks in entertainment companies that produce diverse content (some acceptable, some not), why not own stocks in diversified companies with some gambling operations?
• Some gambling (like state lotteries) funds education and public services, creating social benefit alongside gambling activity.

However, the consensus reflects agreement on gambling as incompatible with Christian conviction, and most Christian funds remain committed to full exclusion of gaming stockseening, with gambling explicitly excluded due to concerns about excessive risk and associations with vice industries.

In recent years, as gambling has become more mainstream and socially accepted, some of this opposition has softened. However, the dominant position among explicitly Christian investment firms remains clear opposition to gambling stocks.

Partial or Selective Exclusion

A smaller number of Christian funds take a more nuanced approach, attempting to distinguish between different types of gambling exposure:

• Excluding major gambling operators: Funds may exclude companies that primarily operate casinos (Caesars, MGM, Wynn, Las Vegas Sands) while permitting stocks in diversified companies with some gaming operations.
• Distinguishing fantasy sports: Some funds exclude DraftKings and FanDuel while permitting other stocks, based on a judgment that fantasy sports presents a lower ethical concern than casino gambling.
• Percentage thresholds: A few funds create thresholds (“we exclude companies if more than 20% of revenue comes from gambling”) as a quantitative approach to the screening question.

This middle approach attempts to balance ethical concerns with practical investment realities. Diversified companies like Google, Microsoft, or even some casinos have non-gambling operations that may be attractive to Christian investors. A moderate position might permit these companies while excluding pure-play gaming companies.

No Specific Gaming Screening

A small number of broader-mandate Christian funds don’t specifically screen for gambling exposure. These funds focus on other ethical criteria (environmental concerns, labor practices, corporate governance) without addressing gambling specifically.

This approach reflects a judgment that:

• Christian investors may reasonably disagree on the severity of gambling concerns relative to other ethical issues
• The fund’s job is to implement broadly-agreed-upon screening (avoiding weapons, tobacco, etc.) without imposing additional restrictions based on debated issues
• Individual investors can layer on additional screening if they choose

However, this is a minority position among explicitly Christian funds, primarily reflecting funds with broader mandates beyond Christian values investing.

Practical Framework for Christian Investors

If you’re a Christian investor concerned about gambling stocks in your portfolio, here are practical steps:

1. Understand Your Convictions

Begin by examining what you actually believe about gambling as a Christian. Do you believe gambling is morally wrong? Why or why not? What biblical principles inform your view?

If you conclude that gambling conflicts with Christian conviction, then owning stocks in gambling companies conflicts with that conviction. If you view gambling as a matter of personal choice or believe some gambling (like state lotteries) has social benefits that offset the moral concerns, your screening might differ.

The key is matching your investments to your actual convictions rather than letting default choices determine your holdings.

2. Know What You Own

Many Christian investors unknowingly own gambling stocks through broad-market index funds or mutual funds. If you hold a total-market index fund, you almost certainly own Caesars, MGM, DraftKings, or other gaming companies.

Review your fund holdings. Most funds provide online access to see what companies they hold. Look specifically for gaming companies. If you own them, decide consciously whether you’re comfortable with that holding or whether you need to make changes.

3. Make Intentional Choices

Based on your convictions, decide your approach:

• Full exclusion: Move investments to funds that screen out all gambling stocks, or to funds and individual stocks that have no gaming exposure.
• Selective exclusion: Move to funds that exclude major gaming operators but permit some gaming exposure in diversified companies.
• Deliberate acceptance: If you’ve concluded that gambling stocks are acceptable, own them deliberately with full understanding of what you’re doing, rather than by accident.

The worst option is unconscious holding—owning gaming stocks without having thought through whether they align with your convictions.

4. Consider Opportunity Costs

Excluding gambling stocks doesn’t eliminate returns entirely, but it does exclude one segment of the market. In recent years, gaming stocks have performed well, and some investors have enjoyed strong returns from this exposure.

If you exclude gaming stocks, you’ll miss this performance. However, you’ll also align your portfolio with your convictions, which many Christian investors find valuable. The question becomes: is alignment with your values worth the potential performance cost?

This is a personal decision that varies by investor. Some conclude that values alignment is worth modest performance cost. Others conclude they’re willing to own gaming stocks for the performance benefit. What matters is making a conscious choice rather than defaulting to one or the other.

5. Monitor and Adjust

Revisit your holdings periodically. Fund compositions change. Your convictions may develop. The gaming industry continues to evolve. What feels right today might feel different in five years. Periodic review ensures your portfolio stays aligned with your actual values.

Conclusion: Conscience and Christian Stewardship

The question of gambling stocks presents Christians with a clear scriptural and theological case against gambling as a personal activity. The case against owning stocks in gambling companies is somewhat more complex—it involves questions about indirect participation, responsibility for business practices, and stewardship of resources.

However, the dominant consensus among Christian investment voices and Christian theological tradition is clear: gambling stocks don’t align with Christian values. Companies built primarily on encouraging gambling, profiting from addictive behavior, and targeting vulnerable populations don’t deserve Christian investor capital.

This doesn’t mean every Christian investor must exclude gambling stocks—but it does mean Christians should approach this question consciously and deliberately. You should:

• Understand why Christian tradition opposes gambling
• Know what gambling companies are in your portfolio
• Make a deliberate decision about whether to own them
• Ensure your investment choices reflect your actual Christian convictions

In the end, Christian investing isn’t just about financial returns. It’s about stewardship—using your resources in ways that honor God and align with biblical values. A portfolio aligned with your deepest convictions, even if it returns slightly less, reflects genuine Christian stewardship more faithfully than maximum returns achieved at the expense of integrity.