NFL Betting Favorites Dominate, Leading to Major Losses for Sportsbooks

Flutter, DraftKings, and other betting operators report significant revenue and profit hits due to a historic winning streak for NFL favorites.

Flutter Entertainment, owner of FanDuel, announced a $370 million reduction in 2024 U.S. revenue guidance after NFL favorites had their highest win rate in nearly 20 years.
The Detroit Lions' December 30 victory over the San Francisco 49ers alone resulted in a $74 million single-day loss for Flutter.
DraftKings and other sportsbooks are also expected to report financial setbacks as bettors heavily favored winning teams throughout the NFL season.
Despite U.S. losses, Flutter reported improved performance in other markets, with favorable results in the English Premier League boosting UK and Ireland revenues by 1-2%.
Flutter emphasized that these short-term losses do not impact its long-term growth projections, with the U.S. market still expected to drive significant profit growth by 2027.