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Flutter, the US-listed owner of FanDuel, warned that its profits and revenue would suffer after its customers had an exciting winning streak at US sporting events.
The company said in a trading update on Tuesday that the NFL season has been the most “customer friendly” since it launched online sports betting, with favorite win rates at their highest in nearly 20 years.
Flutter said his biggest single loss in the quarter was Dec. 30 when the Detroit Lions’ win over the San Francisco 49ers cost $74 million.
Flutter said it would take a hit to revenue of about $390 million for the period from Nov. 12 to Dec. 31.
