According to Flutter Entertainment, the NFL’s winning percentage is at its greatest level in almost two decades.
The National Football League doesn’t have enough upsets, which bothers investors in sports betting firms like FanDuel’s owner, Flutter Entertainment.
Following what it claimed was the most customer-friendly NFL season since the advent of online sports betting, with the highest percentage of favorites winning in almost two decades, Flutter lowered its U.S. revenue guidance for the year by $370 million late Tuesday, bringing it down to a midpoint of $5.8 billion.
It specifically mentioned “significant adverse results” from the Detroit Lions’ 40-34 victory over the San Francisco 49ers on December 30.
Its adjusted profits before interest, tax, depreciation, and amortization will be impacted by that revenue deficit by $205 million.
“You win some and you lose some is the name of the game. However, you are better off on the house side than the gambler side over the long term, according to Alphavalue experts.
Although it only increased sales by a meager 1% over its initial projection, the company did see positive sports results from the English Premier League, which will improve its results in the United Kingdom and Ireland.
The UK-listed shares of Flutter (UK:FLTR) experienced a 3% decline. Over the past 52 weeks, Flutter’s shares that are listed in the US (FLUT) have increased by 50%.
BetMGM’s co-owner, Entain (UK:ENT), saw a 3% decline. In premarket trading, DraftKings’ shares (DKNG) dropped 2%.
