#FLUTTER ENTERTAINMENT STOCK FORECAST DRIVER#

Of this total, the study projects that 31m will access legal online sites, 21.5m will bet friend to friend, and 56.3m will drench themselves in bracketology. The result: 68m Americans planned to bet $15.5b either online, at a live sports book or participating in bracket contests for fun. The American Gaming Association ('AGA') announced the results of its study on the participation rate for March Madness. Industry peers were all doing the same thing weren’t they? Add to this the first class job DKNG had done converting their fantasy sports customer base to real money gamblers and you had a bull scenario. The calculus was based purely on a sales growth catalyst, the underlying assumption being that DKNG’s management would find a way to steadily reduce its excessive marketing expense as it continued to grow revenue. But for the most part, investors who hung in too long took a bath. And yes, there were indeed savvy investors who rode the rocket, jettisoned at near highs, and floated down on golden parachutes into a sea of cash. Some forecast absurd projections of a business that would grow to $200b in annual revenues based on nothing but models sculpted out of algorithms that were borderline bogus.

#FLUTTER ENTERTAINMENT STOCK FORECAST DRIVER#

The key driver of the frenetic trading was the simple fact-totally understandable-that the only true pure play in the space was DKNG.īut there can be little doubt that delusions about where the industry was headed were enabled by many analysts. ( DKNG ), which ran from its IPO level ~$20 in April of 2020 to a dizzying high of $72 by March of 2021. Particularly sizzling were the shares of DraftKings Inc. Supreme Court ruling in 2018, the sector has gone through a predictable cycle: Stage one, soaring, irrational ebullience that saw the usual trees-growing-to-the-skies delusions. Since the initial explosive charge of sports betting stocks after the U.S. “All good things arrive unto them that wait-and don’t die in the meantime….” Mark Twain.

Flutter entertainment stock forecast