NFL week 17 could create downside risk for sportsbooks, says Canaccord

Canaccord notes that weeks 5-17 of the NFL season will take place during Q4 and adds that “the betting public is flush with cash to finish up their holiday shopping after yet another winning week.” The standalone games in particular “put coal in the stockings of sportsbook operators, with favorites winning and covering in four of the five games while four of five also went over the total,” according to the analyst, who also argues that the expanded college football playoff “went poorly for the house” with the favorites winning and covering the spread in all four matchups. A continuation of recent trends during week 17 “could create some downside risk for sportsbooks,” says the firm, which has Buy ratings on DraftKings (DKNG) and Penn Entertainment (PENN).