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NEW YORK - FanDuel, a leading online gaming company in North America and key revenue driver for its $47.26 billion market cap parent Flutter Entertainment (NYSE: FLUT), has reported significant customer engagement with its responsible gaming dashboard, My Spend, during the 2024-2025 NFL Season. Nearly half of its user base, estimated at around 3.5 million customers, utilized the feature to monitor their betting activities. According to InvestingPro data, Flutter has demonstrated strong revenue growth of 19.86% over the last twelve months.
My Spend offers users detailed insights into their deposit and betting behavior, including amounts deposited and net winnings across various time frames. The tool is part of a suite of responsible gaming features available on FanDuel’s platform, which also includes deposit and wager limits. In an effort to encourage the use of such tools, FanDuel launched an advertising campaign for My Spend during the NFL playoffs, which was broadcast across television, digital, and social media platforms. Consumer testing indicated that 75% of viewers found the advertisement persuasive and agreed that tools like My Spend are beneficial for managing gaming habits.
In addition to My Spend, FanDuel has introduced Deposit Alerts, a new feature that allows customers to set budget targets and receive notifications when their spending reaches the predetermined limit. This tool can be found in the Responsible Gaming section of the FanDuel app.
Jill Watkins, Senior Commercial Director of Responsible Gaming at FanDuel, emphasized the company’s commitment to customer well-being, stating, "We want our customers to know what they are spending and to ensure they are within their comfort zone." Watkins noted a meaningful increase in the use of responsible gaming tools since My Spend’s launch.
Looking ahead, FanDuel plans to further advance its responsible gaming technology in 2025, aiming to identify at-risk behavior earlier and intervene accordingly. The company seeks to maintain its position as a leader in consumer protection within the licensed and regulated market. InvestingPro analysis indicates Flutter maintains a FAIR overall financial health score, with analysts expecting profitability this year despite current challenges. For detailed insights and 10+ additional ProTips about Flutter’s financial outlook, investors can access the comprehensive Pro Research Report available on InvestingPro.
FanDuel Group, a subsidiary of Flutter Entertainment (NYSE: FLUT), operates various mobile wagering brands, including FanDuel Sportsbook, FanDuel Casino (EPA:CASP), FanDuel Racing, and has a presence in all 50 states with approximately 17 million customers. The parent company’s stock has shown remarkable momentum with a 47.16% return over the past six months, reflecting strong market confidence in its business model. Discover more detailed financial metrics and valuation insights with a subscription to InvestingPro, which covers over 1,400 US stocks with comprehensive research reports.
This report is based on a press release statement from FanDuel Group.
In other recent news, DraftKings (NASDAQ:DKNG) has faced a lowered price target by TD Cowen due to the potential for increased taxes on online sports betting and the volatility introduced by Same Game Parlays. The firm also anticipates the company might miss the fourth-quarter guidance. These developments come amidst the growing popularity of the online sports betting industry and the evolving tax landscape.
On the other hand, Flutter Entertainment has seen an increased stock price target from UBS following an upgrade cycle in its US operations. The company’s US business, FanDuel, reported revenues exceeding initial guidance, which has led to increased optimism about the company’s financial performance.
Meanwhile, JMP Securities has highlighted the competitive advantage of DraftKings in the U.S. gaming market. The firm noted the potential for companies like DraftKings and FanDuel to leverage their financial strength for international expansion.
Stifel analysts have initiated coverage of Flutter Entertainment shares with a Buy rating, predicting robust free cash flow growth. The firm sees potential for higher earnings driven by market expansion, industry consolidation, and revenue synergies.
Lastly, the proposed tax hikes on sports betting in Maryland have led to a slight decline in the stock prices of DraftKings and Flutter Entertainment. The potential increase in operational costs due to these changes is being closely monitored by investors.
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