
DraftKings Expected to Share FanDuel's Q4 NFL Betting Setback, Analyst Reports
DraftKings faces potential Q4 earnings impact from NFL betting outcomes, similar to Flutter Entertainment's recent financial warning. Bank of America analyst Shaun Kelley estimates a $60-80 million reduction in DraftKings' Q4 EBITDA due to favorable bettor outcomes in NFL games.

DraftKings stock ticker display board
Key factors impacting Q4 performance:
- NFL favorites won over 70% of games
- Favorites covered spreads at nearly 54% rate
- One of the highest cover rates in Super Bowl era
However, DraftKings may have fared better than FanDuel due to:
- Success from the Tyson-Paul fight sponsorship
- Avoiding FanDuel's +4891 parlay payout
- Less exposure to unfavorable NFL Christmas Day game outcomes
Industry outlook remains positive for several reasons:
- Current high favorite win rates are historically unusual
- Data shows most US recreational bettors typically underperform
- Potential recovery during NFL playoffs
- Growing NBA and college basketball seasons
- Sports betting outcomes outside US market remain favorable
Analysts view this NFL-related setback as temporary, with some suggesting any stock weakness presents a buying opportunity. The broader sports betting market fundamentals remain strong, supported by product development and risk management capabilities.
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