DraftKings (DKNG) Q2 Bets Pays Off

DraftKings (DKNG) is the subject of today’s FOMO segment. In this segment Alex Coffey and Jenny Horne discuss the sports betting website’s Q2 earnings report. DKNG Monthly Unique Payers or MUP increased to 1.5M, that’s a 30% increase compared to the same period in 2021 and average Revenue per MUP was $103 in Q2 which is also a 30% increase compared to the same period in 2021. The company is also raising its FY2022 revenue guidance to year-over-year growth of 60% to 68%. Alex then demonstrates an example Risk Reversal trade using DraftKings (DKNG) which was trading around $18.40/share Friday.