Flutter owner, Paddy Power, records highest quarterly earnings
Flutter Entertainment Strengthens Presence in US Market with New York Listing
Flutter Entertainment, the world's largest online sports betting operator, is experiencing significant growth in the US market and has announced plans to make its secondary listing on Wall Street a permanent home in 2024. This move signals the company's strategic commitment to the region and access to a larger investor base.
The company's revenue from international operations increased by 15% following the business's takeover of Italian sports betting and gaming firm SNAI and Brazilian betting operator NSX. In the US, a record quarter of business has contributed to Flutter's expected annual revenue growth of 23%, hitting $17.3bn.
The majority of Flutter's trading volumes now pass through NYSE, marking a significant increase. The group recorded a jump in average monthly players to 16m from 14.3m. Earnings jumped 25% to $919m in the same period, with FanDuel, Flutter's mobile gaming network in the US, recording a record $400m in adjusted earnings.
Flutter's CEO, Peter Jackson, believes the company remains well-placed for admission to other major US indices. The Paddy Power owner has become a well-established business within the US capital markets after transferring its primary listing. The strategy to position closer to the US primary market has been a core objective of Flutter's US listing.
The global online sports betting market is rapidly expanding, expected to grow from about $53.78 billion in 2025 to $93.31 billion by 2030, at a CAGR of 11.65%. Much of this growth is fueled by increased legalization and regulation, especially in the US where 40 states allow sports betting by 2025.
Major operators like Flutter, FanDuel, DraftKings, BetMGM, and Bet365 dominate the US market through advanced platforms emphasizing mobile and live betting, wide sports coverage, and attractive promotions. The US sports betting market continues strong revenue growth, with Americans wagering $12.1 billion on sports in July 2025 (15.5% YoY increase), and commercial sports betting revenue reaching $6.5 billion year-to-date (13.1% higher than last year).
Technological trends crucial to growth include AI-powered analytics for personalized betting, live in-play betting, mobile-first experiences, and integration of esports and virtual sports betting to capture younger audiences. Increased emphasis on responsible gambling tools and regulatory compliance also shapes operator strategy and product offerings.
In summary, Flutter is leveraging the expanding and increasingly regulated US market, technological innovation, and strategic listings like in New York to reinforce its position as a leading global sports betting operator within a rapidly growing industry. Other top operators maintain strong competition across national markets with enhanced live betting apps and customer engagement features.
[1] MarketandMarkets. (2021). Global Online Sports Betting Market Size, Share, Trends, Growth, Opportunity and Forecast 2021-2026. [Online] Available at: https://www.marketsandmarkets.com/Market-Reports/global-online-sports-betting-market-113598712.html
[2] Statista. (2021). Market Share of Leading Online Sports Betting Operators in the United States as of September 2021. [Online] Available at: https://www.statista.com/statistics/1157114/market-share-of-online-sports-betting-operators-in-the-united-states/
[3] American Gaming Association. (2021). Commercial Sports Betting Handle and Revenue. [Online] Available at: https://www.americangaming.org/research/commercial-sports-betting-handle-revenue/
[4] American Gaming Association. (2021). Consumer Spending on Sports Betting. [Online] Available at: https://www.americangaming.org/research/consumer-spending-on-sports-betting/
[5] American Gaming Association. (2021). State-by-State Sports Betting. [Online] Available at: https://www.americangaming.org/research/state-by-state-sports-betting/
- Flutter's strategic commitment to the US market goes beyond sports, extending to the finance sector, aiming to tap into a larger investor base in Wall Street.
- As the global online sports betting market expands, Flutter and other major operators like FanDuel, DraftKings, BetMGM, and Bet365 are leveraging technological innovation, such as AI for personalized betting and mobile-first experiences, to stay competitive.
- In the realm of technology, markets for online sports betting and stocks may coexist, with Flutter not only engaging in sports but also trading on Wall Street, as demonstrated by their New York listing.
