Flutter Entertainment 2025 Forecast Slashed: NFL Favorites’ Winning Streak Lowers US Revenue by $370M
Flutter Entertainment cuts its 2025 U.S. revenue outlook due to an unusually high number of NFL favorites winning, resulting in better payouts for bettors and impacting earnings.
Bill McColl brings over 25 years of expertise as a senior producer and writer across TV, radio, and digital platforms, leading news teams through major headline stories.
Highlights
- Flutter Entertainment, parent company of FanDuel, reduces its U.S. revenue forecast after an unprecedented NFL season where favorites won more than usual.
- The surge in winning favorites led to higher customer payouts, cutting full-year U.S. revenue projections by $370 million.
- Adjusted EBITDA forecasts for the U.S. market were also lowered significantly.
The 2023-2024 NFL season’s lack of surprises is impacting Flutter Entertainment’s financial results.
The online betting giant announced a downward revision of its full-year U.S. guidance, attributing the change to bettors’ success in NFL wagers.
Flutter noted that from November through December, despite strong player engagement, unfavorable sports outcomes—especially in NFL Parlay and Same Game Parlay bets—have negatively affected revenue.
NFL Favorites Dominate the Season
This NFL season has been described as the most favorable for bettors since online sports betting began, with the highest rate of favorites winning in nearly two decades.
These customer-friendly results led to a revenue shortfall of approximately $390 million and a reduction in adjusted EBITDA by around $260 million between November 12 and December 31.
Flutter now projects its 2024 U.S. revenue at $5.78 billion, down from the prior estimate of $6.05 billion to $6.25 billion, with adjusted EBITDA forecasted at $505 million compared to $670 million to $750 million previously.
Despite the revisions, Flutter Entertainment’s shares saw a slight increase, supported by Oppenheimer’s confidence in the company’s risk management after two consecutive challenging NFL seasons.
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