Sports-betting stocks slump amid growing concerns that college football will be cancelled entirely

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  • Sports-betting stocks slumped on Monday amid growing concerns that college football will be cancelled entirely  this fall due to the coronavirus pandemic. 
  • The MAC on Saturday became the first to cancel its college football season. 
  • On Monday, sportscaster Dan Patrick said on his talk show that the Big 10 and Pac-12 conferences will cancel their college football seasons on Tuesday, and that the ACC and Big 12 are “on the fence.” 
  • Here’s how much sports-betting stocks fell Monday. 
  • Read more on Business Insider. 

Sports-betting stocks tumbled on Monday amid growing concerns that college football will be cancelled entirely in the fall due to the coronavirus pandemic. 

The MAC on Saturday became the first big college football league to cancel its season “due to continuing concerns related to the COVID-19 global pandemic,” according to a statement posted on Twitter. The conference said it has started to formalize plans for the spring 2021 semester. 

On Monday, sportscaster Dan Patrick said on his talk show that the Big 10 and Pac-12 conferences will cancel their college football seasons on Tuesday, and that the ACC and Big 12 are “on the fence.” The ACC, Big 10, Big 12, Pac-12, and SEC have yet to make any official announcements on their fall seasons as of Monday.  

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Here’s how much big sports-betting stocks fell in intraday trading Monday. 

  • DraftKings (DKNG) – as much as 12% 
  • Penn National Gaming (PENN) – as much as 8%
  • Flutter Entertainment (PDYPY) – as much as 4%
  • William Hill Plc (WIMHY) – as much as 4% 

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