International sports betting operator Flutter has warned of a hit to revenues and profits after U.S. gamblers enjoyed a string of winning bets on the NFL.

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,

Football season has been great in terms of customer acquisition but has done a number on the bottom line, according to FanDuel parent Flutter.

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.

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 , 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.