00:00first quarter of 2026 coming to a close my gosh the years just go by the time goes by so
00:05fast
00:06Sam some numbers coming in from Wall Street on some of the companies that provide sports betting
00:12options and how did they do in the first yeah so the story for these major sports betting
00:20companies like DraftKings and FanDuel over the past year really has been their stocks falling
00:25like just a ton getting really hit hard both are down about 40 percent Wall Street right now is not
00:32predicting that that will really change when we get these first quarter results in a few weeks
00:36and a lot of that you know while there is a lot of anxiety out there from investors around prediction
00:40markets a lot of that is tied to the overall betting volume and growth in betting you know for years
00:46we've seen sports books like DraftKings and FanDuel post double digit handle growth year over year the
00:52total amount of you know dollars wagered at their sports books but in December it actually was
00:57negative for the first time ever and now Wall Street is predicting that the first quarter was
01:00probably more of the same with a handle down roughly about two percent year over year so that's a big
01:06change from years past when handle was growing 20 percent 15 percent every quarter now it's actually
01:12going to be down for you know the first big quarter to start the year now a lot of that
01:17is actually
01:17about the results of sports itself and the comparisons to last year you know last year we
01:22talked a lot about Craig the NFL especially how famously sports books got hit like they'd never been
01:28hit before how that rolled over into March Madness when favorites won at an unprecedented rate so for
01:35sports books last year they were getting really hit hard in revenue but because bettors were winning
01:39so much they were actually betting a lot more and handle was up this year it's been a little bit
01:44the
01:44opposite sports books did much much better on the NFL season in terms of winning the amount of bets
01:50they took keeping the money and it looks to kind of be the same with March Madness as well but
01:55in turn
01:56when you have players losing more sports books are saying you know they're not people aren't betting as
02:00much so it makes it more difficult for us to kind of stay on track so it's kind of an
02:04interesting story
02:05along with this prediction market stuff which you know some people believe could be taking away
02:09businesses from these sports books although Wall Street seems to you know think that that's
02:14the handle drop is more about the tougher comparisons with last year and will be really
02:18interesting heading into the World Cup especially summer which is going to be a huge opportunity for
02:23these companies to you know not only attract more customers but to also you know push the handle
02:28growth in the opposite direction it's going to be an estimated you know 1.8 billion dollars bet on
02:33the World Cup which is basically another Super Bowl for these companies so they'll be hoping the U.S.
02:38men's national team makes a big run people bet on that a lot in the U.S. but in turn
02:42if the
02:43men's national team does really well that can also impact margins so it's always tricky to balance
02:47risk-wise but pretty interesting that the most recent results are kind of dragging these handle
02:52numbers for the sports books despite them kind of doing well overall in terms of betting
02:56last minute.
02:56you
02:56you
02:56you
02:56you
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