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Fanduel owner cuts US profit forecast on gamblers' winning streak
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Fanduel owner cuts US profit forecast on gamblers' winning streak
May 26, 2025 3:04 AM

DUBLIN, May 7 (Reuters) - Fanduel-owner Flutter

cut its forecast for full-year U.S. profit growth on Wednesday

after a winning streak for gamblers hit earnings at the world's

largest online betting company for the second quarter in a row.

Bookmakers tend to suffer when favourites win and Flutter

expects U.S. core profit to be $180 million lower this year at

$1.13 billion due to an unprecedented run of bettor-friendly

results during the March Madness college basketball tournament.

Flutter nudged up its group-wide profit forecast to $3.18

billion from $3.16 billion in March following a $100 million

positive foreign currency impact and a $120 million acquisition

contribution not included previously.

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