FanDuel owner cuts profit forecast, to launch event contracts next month

Core Viewpoint - Flutter, the world's largest online betting company, has significantly reduced its full-year profit growth forecast due to a prolonged winning streak by gamblers, which has led to increased payouts [1] Company Summary - Flutter's revised profit growth forecast indicates a challenging financial outlook for the company, primarily driven by the impact of higher payouts to gamblers [1] Industry Summary - The online betting industry is experiencing fluctuations in profitability as a result of changing gambler behavior, particularly during winning streaks that can strain company finances [1]