DraftKings may have lost up to $50 million during the World Cup group stage, according to Bank of America analysts. The losses stem from a series of bettor-friendly outcomes. Payouts on winning wagers claimed a significant portion of the company's estimated $1.1 billion total betting handle.
The U.S. Men's National Team's advancement to the round of 16 is the primary liability for most U.S. sportsbooks. England has also attracted 20% of global outright bets. Analysts warn that continued success for these teams could increase losses for the company.