Flutter Entertainment has reported an unusually high rate of favorites winning in the NFL this season, marking the most customer-friendly season in nearly 20 years. This, however, has led to a significant setback for sports betting companies, with Flutter, the parent company of FanDuel, cutting its U.S. revenue forecast for the year by $370 million.
Late on Tuesday, Flutter adjusted its U.S. revenue guidance to a midpoint of $5.8 billion, citing that the NFL season’s outcome has been particularly favorable to the favorites, dampening betting activity. As a result, the company now expects its adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) to be impacted by a $205 million shortfall.
“This is the name of the gaming game: You win some and you lose some. Yet, over the long run, you are better off being on the house side than on the gambler side,” said analysts at Alphavalue, acknowledging the unpredictable nature of the betting industry.
While Flutter did see a boost from the English Premier League results, which will help bolster its performance in the U.K. and Ireland, the increase in revenue is modest, amounting to just a 1% rise from previous expectations.
As a result of these adjustments, Flutter’s U.K.-listed shares dropped by 3%. On the other hand, the company’s U.S.-listed shares have seen a 50% rally over the past 52 weeks.
Meanwhile, competitors also saw declines: Entain, which partly owns BetMGM, fell 3%, and DraftKings saw its stock drop 2% in premarket trading.
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Lions Expected to Lose Super Bowl Champion Defender in Recent Offseason Projection
The Detroit Lions are 13-2 as they enter Week 17 of the NFL season, holding the top seed in the NFC and looking to secure a postseason run through Ford Field. The team has been one of the league’s best and aims to bring home the Lombardi Trophy. While that remains the primary focus, offseason discussions have already begun.
Several teams have been eliminated from playoff contention and are now focusing on ways to improve. Bleacher Report’s Scouting Department recently published an article highlighting potential free agent acquisitions for these teams.
In that article, they suggested the Baltimore Ravens might sign cornerback Carlton Davis. The report noted, “The cornerback position has been a headache throughout the season for the Ravens. Adding Tre’Davious White in the middle of the campaign didn’t help, and Brandon Stephens has been a liability all year. They have a good long-term answer in Nate Wiggins, but he’s still a rookie who has dealt with some injuries. The solution might lie in making a real investment in a veteran on a short-term contract. Carlton Davis has helped the Lions stabilize their secondary and could show up to do the same thing in Baltimore.”
The Ravens have struggled all season with their pass defense, ranking 29th in the league at 248.5 yards allowed per game. Given their ongoing issues, they might target Davis as a potential solution.
In March, the Lions traded for Davis to strengthen their secondary. Over 13 games with Detroit, Davis has tallied 56 total tackles, 11 pass deflections, and two interceptions. According to Pro Football Focus (PFF), the Auburn alum has earned a 74.5 overall grade and a 72.1 coverage grade.
At 27 years old, Davis is a Super Bowl LV champion with the Tampa Bay Buccaneers and brings valuable postseason experience. While the Lions might look to re-sign him for 2025, retaining him won’t be easy, as several teams, including the Ravens, could show interest.
Davis is currently dealing with a broken jaw, and his ability to return this season is uncertain, potentially marking the end of his time with the Lions. If that happens, expect the Ravens to be a team to watch when free agency opens in March.
