Weak NBA Finals Ratings Could Dent Sportsbook Operator Earnings

The NBA Finals of 2025 were thrilling, stretching to a full seven games and packed with drama, highlighted by a significant injury to Indiana Pacers star Tyrese Haliburton during the final game on Sunday. 

That still fell short of boosting television ratings, and sportsbook operators like Flutter Entertainment (NYSE: FLUT) might face consequences in the shape of lower second-quarter earnings, as stated by Benchmark analyst Mike Hickey.

"It is no secret that the Pacers-Thunder NBA Finals has been something less than a ratings bonanza. The first five games averaged 9.18 million viewers, the worst five-game average for the Finals in the Nielsen people meter era (1988-present), save for Lakers-Heat in the fall 2020 ‘bubble,’” reports Jon Lewis for Sports Media Watch.

Historical data shows that viewership usually sees notable increases beginning with game five in the seven-game series format, but this did not happen in the matchup between the Oklahoma City Thunder and the Pacers — an unexpected shift in trend, especially given that the teams were tied 2-2 going into the fifth game. Without that increase happening, sportsbook operators may face a decline in second-quarter earnings. 

Minor Market Contest Probably Weighed Down Ratings, Sportsbook Revenues 

One popular, enduring NBA conspiracy theory among fans is that the league desires or even tries to arrange a finals matchup featuring at least one team from a major media market like Boston, Los Angeles, or New York. That situation did not occur this year. 

Leaving conspiracy theories out of the equation, there are connections between the growth of sports betting and higher viewership for certain leagues, such as the NFL. Nonetheless, diminished viewership for the 2025 NBA Finals probably reduced engagement from casual bettors — a group that significantly impacts sportsbook operators' profits and revenue — as per Hickey. 

This suggests that casual fans and gamblers must find a playoff matchup interesting to watch on their screens and make bets. A matchup featuring teams from Indiana and Oklahoma missed the necessary excitement, which may lead to a cap on second-quarter profits. 

Hickey mentions that FanDuel's parent company Flutter may not experience significant harm from low NBA Finals ratings during the April to June timeframe, as the New York Knicks advanced to the Eastern Conference finals, which positively impacts the operator in New York and results in a 5.4% handle increase for the quarter to date. 

Additional NBA Finals Tidbits and Details 

Though the Pacers/Thunder series didn’t attract high ratings, significant league-changing drama unfolded over the weekend. This encompasses the previously mentioned injury to Haliburton, which might sideline him for the entire next season, along with the trade of 15-time all-star Kevin Durant from the Phoenix Suns to the Houston Rockets. 

These two occurrences along with the significant injury sustained by Boston Celtics standout Jayson Tatum earlier in the playoffs indicate that the NBA's power dynamics will stay in the West, leaving the Eastern Conference very competitive next season. 

And for those keeping track, entertainment tycoon and rapper Jay-Z lost his $1 million wager, made with Fanatics, on Oklahoma City finishing the series in five games.