Key Takeaways FanDuel parent Flutter Entertainment warned that its U.S. results will be lower than anticipated because too many NFL favorites won this season, giving customers better payouts.The online gambling company said the "customer friendly" wagering resulted in lowering full-year U.

Flutter Entertainment shares are trading lower in Tuesday's after-hours session after the company cut near-term guidance due to a period of "very unfavorable" sports results.

Flutter Entertainment has issued a profits warning after taking a hit of $438 million (£352m/€425m) as US punters enjoyed a winning run on American football. The parent company of Paddy Power and Sky Bet said that one match alone, the Detroit Lions' 40-34 victory over the San Francisco 49ers on December 30, cost them $74m.

Flutter Entertainment lowered its full-year 2024 U.S. outlook citing unfavorable sports results from mid-November through all of December.

Flutter , the world's largest online betting company, said on Tuesday it expects 2024 earnings at its fast-growing U.S. FanDuel brand to be sharply lower after American football gamblers enjoyed an unprecedented winning streak.

FanDuel owner Flutter Entertainment cut its fourth-quarter U.S. guidance late Tuesday, blaming gamblers who won big by backing favorites. The current NFL season “has been the most customer-friendly since the launch of online sports betting,