00:00now this is a little surprising here as we end our week here with sports betting news
00:04uh flutter that's the parent company of fandle are they are they projecting numbers not as good
00:10as draft kings was because usually it seems like when one company does well the other one does too
00:14yeah uh flutter which owns fandle actually uh they said they had a pretty similar quarter to
00:20draft kings like you mentioned craig kind of where draft kings goes fandle usually moves the only
00:25real difference between the companies at this point is one is owned by a huge global betting
00:30conglomerate and draft kings is very much still kind of in that startup mode where it's just the
00:34drafting sports book and just uh the draft kings online casino that make up the company where
00:39flutter has fandle and a bunch of other sports books but they actually had a pretty similar
00:43quarter to draft kings they posted a record 16.3 percent uh gross sports book hold margin which
00:49is essentially the win rate uh from a sports betting standpoint but again like draft kings
00:54that came during these months where there's not as much betting going on handle growth didn't
00:59jump that much uh either so um i would say draft kings maybe had a slightly better quarter from a
01:05sports betting standpoint but you know investors are now looking at how is that going to roll into
01:10nfl season and i think actually what flutter has said out there about fandle is resonating a little
01:15bit better with analysts and investors they've been able to grow their handle at a little bit more of a
01:19steady rate and because of you know the the way the company is structured because they have deals
01:25with other companies and own other brands they're able to mitigate some of those uh costs from high
01:30tax states as well probably a little bit better than draft kings you know both companies are going
01:34to have the surcharge in illinois the 50 cent tax per bet which is going to be passed down to
01:39customers uh draft kings is not raising their guidance because of that they kind of assume that
01:45they're going to lose money from this so they don't want to tell investors they're going to make more
01:48fanduel has been able to kind of mitigate you know some of their costs with other deals and you know
01:54going into nfl season that's going to be really key especially as it navigates states like louisiana
01:59states like illinois where all these you know things that they don't want to have happen politically
02:03are happening so uh should be an interesting uh football season to say the last for both companies
02:08and i imagine they'll be kind of neck and neck lock and step with each other all throughout
02:12up
02:15so
02:20you
02:23you
02:33you
02:34you
02:35you
02:36you
Comments