DraftKings

1 October closing: $35.16

31 October closing: $30.59

Peak October closing: $35.50

The rapid pace of prediction market growth in the US has hampered DraftKings share price in recent months, with October also seeing the Boston-based giant’s stock decline in value. The presence of Kalshi and Robinhood, and the impending return of Polymarket, present a threat level, albeit yet to be fully realised or determined, to the online sports betting dominance of DraftKings and FanDuel.

In response, Flutter snapped up Commodity Futures Trading Commission-licensed Railbird at the end of October, with plans to launch DraftKings Predictions app in the coming months. Crucially, sports event contracts will remain off the table for the time being. DraftKings will present its Q3 earnings this week. Last month, Berenberg upgraded DraftKings from a ‘buy’ to ‘hold’ and trimmed the target price from $45 to $43.

Evoke

1 October closing: 50.70p

31 October closing: 43.05p

Peak October closing: 51.10p

With gaming duties potentially rising in this month’s Autumn Budget in the UK, William Hill and 888 parent company evoke has faced the brunt of those fears. The stock slid throughout October, with concerns that Chancellor Rachel Reeves will up taxes on sports betting, online casino and land-based gaming machines on 26 November. Evoke has warned that up to 200 William Hill shops could shutter should the most drastic tax hikes be implemented. Think tanks have proposed upping remote gaming duty from 21% to 50% and doubling the 15% sports betting tax rate.

Performance-wise, evoke delivered a fifth consecutive quarter of growth for Q3, with revenue up 5%. CEO Per Widerström said the quarter had seen evoke execute against his aim of a “more efficient and profitable business”. Evoke chair Lord Mendelsohn also stepped down last month.

Betsson

1 October closing: SEK151.50

31 October closing: SEK148.70

Peak October closing: SEK153.30

October marked a fluctuating month for Stockholm-listed Betsson which ultimately saw the operator’s stock come out relatively flat heading into November. A sharp decline at the start of the month to SEK146.10 was mirrored by a peak of SEK153.30 a day after the firm’s Q3 report was released.

Revenue was up 6% for the business, with Latam and Italy serving as core drivers. Betsson also announced a €40m share buyback scheme which was well received by shareholders. Speaking to EGR, CEO Pontus Lindwall said: “We’ve had the question about share buybacks for 10 years because we have quite a strong financial position.

“We’ve had that tool in our toolbox for many years, and now, obviously, we have a record high with the net cash position. The board made the decision that this could be a wise thing to do right now.”

Playtech

1 October closing: 362p

31 October closing: 263.50p

Peak October closing: 366p

Playtech’s stock slumped in mid-October after Evolution named the FTSE 250 supplier as the party responsible for commissioning a report into Evolution’s alleged black market activities. The announcement wiped millions from Playtech’s market cap, as the firm’s shares slipped from 344p to 266.50p by close of trading on 21 October. The revelation ended years of speculation behind which entity commissioned Black Cube to undertake the report. However, in a statement, Playtech defended its decision to commission the report.

The company said: “Playtech stands by the decision to commission the report.

“Evolution continues to seek to avoid legitimate scrutiny rather than address longstanding questions about its conduct, including its decision to supply operators in illegal markets and to support unlicensed operators in regulated markets.”

Entain

1 October closing: 872.40p

31 October closing: 792.40p

Peak October closing: 873.80p

Another London-listed operator to be caught up in the tax hike tumult, Entain’s shares also fell in October. CEO Stella David told The Times at the start of the month that should duty increases come into play, the operator could divert investment away from the UK. The firm has yet to declare if some of its Ladbrokes or Coral shops could shut due to increases.

Entain’s Q3 earnings showed net gaming revenue up 6%, while online net gaming revenue from the UK and Ireland spiked 15%. David told analysts on a subsequent investor call that any tax decisions must be based on “maths rather than emotion”.

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