Analyst trims DraftKings, Flutter earnings forecasts to Street lows NFL outcomes, not prediction markets, cited as reason for downward revisions Shares of DraftKings (NASDAQ: DKNG) and Flutter Entertainment (NYSE: FLUT) have been volatile in recent days, with much of the downside in those sports betting stocks blamed on exploding volume on prediction markets and some of those exchanges offering same-game football parlays. A DraftKings logo. An analyst lowered earnings estimates on that company and Flutter, citing challenging NFL outcomes. (Image: DraftKings Sportsbook) The real problem appears to be another batch of customer-friendly outcomes on NFL games. Due to the arrival of NFL betting, September typically accounts for half of operators’ third-quarter handle, and with the month and the quarter in the books, data indicate DraftKings’ and Flutter’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the period could suffer. We estimate FanDuel saw an ~$130 million EBITDA headwind during the month, resulting in +$44 million of total U.S. EBITDA…Read MoreCategory: Commercial GamingSource: Casino.org