DraftKings stock faces headwinds as Susquehanna cites weak hold

Investing.com - DraftKings stock (NASDAQ: DKNG) and other online sports betting operators face unfavorable conditions after Week 5 of the NFL season and Week 6 of college football, according to Susquehanna's proprietary model tracking bookmaker performance.

The firm's model, which accounts for NFL games from Monday Night Football through Sunday Night Football and college football games from Wednesday through Saturday, estimates unfavorable hold for bookmakers during the week ending Sunday night. Hold refers to the percentage of wagers that bookmakers retain as revenue after paying out winning bets.

The weak performance in the most recent week means October month-to-date hold is unfavorable, following an unfavorable September that declined year-over-year. Susquehanna's analysis covers both NFL Week 5 and college football Week 6.

New York state data, typically published approximately three days after the corresponding weekly measurement period ending Sunday, should be directionally consistent with Susquehanna's methodology. Differences between the firm's national model and New York results can arise from local team outcomes, VIP volume volatility, and geographic scope.

Susquehanna's model measures national betting activity across the United States rather than focusing solely on New York, the largest legal sports betting market in the country.

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