Punters winning more NFL bets are set to dent FanDuel owner Flutter’s profits
DraftKings’ biggest rival and the world’s largest online-betting company, Flutter Entertainment, is seeing a short-term hit to its bottom line from customers’ sweetest dream: gamblers are winning too much.
In a surprise trading update on Tuesday, the group (emphasis ours) detailed that: "The 2024/2025 NFL season to date has been the most customer friendly since the launch of online sports betting with the highest rate of favorites winning in nearly 20 years."
The “very unfavorable US sports results” are set to cost Flutter Entertainment some ~$390 million in revenue, with the company’s shares listed in London opening down 5% this morning — though the stock has since recovered all of that initial drop, with rival DraftKings also trading higher.
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