Scottie Scheffler has made a ton of money for himself and sports bettors in recent years. Some fans and bettors aren't happy when he loses and want refunds.
FanDuel is adding a new betting fee, responding directly to a new Illinois tax. DraftKings stock rises as bettors may now switch to avoid its rival's fee.
Fantasy sports and betting company DraftKings (NASDAQ:DKNG) fell short of the market’s revenue expectations in Q1 CY2025, but sales rose 19.9% year on year to $1.41 billion. The company’s full-year revenue guidance of $6.3 billion at the midpoint came in 1.1% below analysts’ estimates. Its non-GAAP profit of $0.12 per share was in line with analysts’ consensus estimates.
A number of stocks jumped in the afternoon session after the major indices rebounded, as the Bureau of Labor Statistics report revealed a resilient labor market with non-farm payrolls rising by 139,000 in May 2025, significantly above the consensus forecast of 125,000.
Shares of DraftKings Inc. (NASDAQ: DKNG) are trading lower Monday after Illinois passed a new budget proposal that includes increased taxes on sports betting.
Shares of fantasy sports and betting company DraftKings (NASDAQ:DKNG)
fell 7% in the morning session after the state of Illinois announced new legislation that introduces additional fees for online sports betting operators. The new fee structure is expected to significantly increase the tax rate for major players like DraftKings in Illinois, potentially reducing their profitability.
Millions of people around the world will watch the Indianapolis 500 race on Sunday, May 25. Cryptocurrency investors and fans, especially those who like Dogecoin (CRYPTO: DOGE) may have more reasons to tune into this year's race.
DraftKings had problems in Q1, causing it to lower revenue guidance substantially for 2025. However, Wall Street remains unshaken, indicating big time upside.
