World Cup Spurs Record Betting Handle at DraftKings, Shares Drop 2.5%
DKNG•DraftKings' prediction market betting handle surged to record highs during the opening weekend of the 2026 FIFA World Cup, driven by increased prop and match-winner wagers. Shares of DraftKings slid 2.5% on the trading session despite the elevated betting activity.
1. Record Betting Handle Surge
During the opening weekend of the 2026 FIFA World Cup, DraftKings reported its prediction market handle set a new record, with prop bets and match-winner wagers driving the volume spike. The payout estimates for high-profile matches attracted unprecedented engagement from casual and seasoned bettors alike.
2. Stock Reaction
Despite the surge in betting activity, DraftKings shares declined 2.5% in the session, as investors weighed the cost of increased promotional incentives against the topline growth in handle. Traders noted that elevated marketing spend may pressure near-term margins even as revenue prospects improve.
