Flutter, the US-listed owner of FanDuel, has warned that its profits and revenue will take a hit after customers posted a hot streak of wins at US sporting events.
The NFL season was the most “customer-friendly” since the launch of online sports betting, with the highest win rate for favorites in nearly 20 years, the company said in a trading update on Tuesday.
Flatter said his biggest single loss during the quarter was on Dec. 30 when the Detroit Lions' win over the San Francisco 49ers cost $74 million.
Flatter said it would require revenue of about $390 million from November 12 to December 31.
