People talk about momentum. Like a train, they say. Or a falling rock. It goes up, it goes down. It doesn’t much care about your retirement plans. So it goes.
Flutter Entertainment (FLUT 2.85%) is currently experiencing the downward part of things. Down a good forty-eight percent this year. A number like that used to mean something. Now? It’s just a number. Trading at eleven dollars and forty cents as of March 3rd. Less than half of where it started on the New York Stock Exchange. A bit sad, really.
The stock is, shall we say, unloved. And when a stock is unloved, the price tends to reflect that. It’s a simple equation, even a cynic can appreciate. Finding the bottom? A fool’s errand. But a dividend hunter must consider everything, even the wreckage.
The Prediction Market Fuss
There’s been talk, you see, about these “prediction markets.” Kalshi, Polymarket. Places where people bet on things happening. Like whether a politician will say something silly. Or if a sports team will win. They let eighteen-year-olds play. Which is… something. And they operate in places where regular betting isn’t allowed. California. Texas. Seems logical, doesn’t it? A loophole. So it goes.
The fear was that these markets would steal customers from FanDuel, which Flutter owns. Turns out, not so much. Flutter’s CEO, Peter Jackson, did a review. A “robust” review, he called it. Meaning they spent money on it. The conclusion? These prediction markets aren’t the existential threat everyone imagined. A relief, perhaps. Though relief is a fleeting emotion.
Flutter is even getting in on the action with “FanDuel Predicts.” Planning to spend up to three hundred million dollars on it. Three hundred million dollars. That’s a lot of money. They say they’re seeing “encouraging” signs. Everyone always sees encouraging signs. It’s a human tendency. A way to justify spending large sums of money.
The Core Business, Such as It Is
Even if prediction markets vanish tomorrow (and they won’t), Flutter still has a business. FanDuel is either first or second in online sports betting in most states where it operates. They’re also doing well with iGaming – online casinos. Maine unexpectedly approved it. Virginia is likely to follow. States need money, you see. Always. So it goes.
Higher margins with iGaming are a nice touch. A little sweetness in a world of mostly bitter pills. Analysts say Flutter is a relatively safe bet. Pun intended, naturally. They always make those little jokes. It doesn’t change the fundamental truth: it’s still a gamble. Everything is, really.
When the rebound starts? That’s the question, isn’t it? And the answer, my friend, is blowing in the wind. Or, more likely, lost in the noise. But a dividend hunter, well, we keep looking. We have to. It’s what we do.
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2026-03-06 20:53