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