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FLUT), the parent company of online sports betting site FanDuel, missed on both revenue and earnings estimates in the first quarter – and it was due to one major reason, March Madness.

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FanDuel owner Flutter Entertainment on Thursday boosted its guidance because of acquisitions and currency swings even after nursing losses from a U.S. college basketball tournament devoid of upsets.

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FanDuel owner Flutter Entertainment on Thursday boosted its guidance because of acquisitions and currency swings even after nursing losses from a U.S. college basketball tournament devoid of upset ...

Despite recent issues, DraftKings looks like it will still be well-positioned going forward. The company grew its MUPs by a brisk 28% in the quarter, and the company still expects its adjusted gross ...

There also was a striking gap in the success rate among the leading books. FanDuel held 10.5%, according to state regulator ...