Flutter Entertainment

Flutter Entertainment plc is an Irish-American multinational sports betting and gambling company, and the world's largest online gambling company by revenue. Headquartered in Dublin, Ireland (registered) with operational headquarters in New York City, Flutter is listed on both the New York Stock Exchange (NYSE: FLUT) and the London Stock Exchange (LSE: FLTR). The company generated £14.0 billion in revenue in 2024.

Flutter owns a portfolio of leading global gambling brands including FanDuel (the #1 US online sportsbook), Paddy Power (Ireland and UK), Betfair (UK betting exchange), PokerStars (global online poker), Sky Betting & Gaming (UK), Sportsbet (Australia), TVG (US horse racing), Adjarabet (Georgia), and Sisal (Italy). The company operates in over 20 countries and is the dominant player in the US (FanDuel), UK and Ireland (Paddy Power, Sky Betting), Australia (Sportsbet), and Italy (Sisal).

Flutter employs approximately 27,345 people globally and is recognized as a Tier-1 operator worldwide. The company was formed in 2016 through the merger of Paddy Power and Betfair, and was renamed Flutter Entertainment in 2019. The 2019 acquisition of The Stars Group (PokerStars, Sky Betting) for $6.95 billion created the world's largest online gambling company. Flutter's US operations, led by FanDuel, have been the primary growth driver, with the US becoming Flutter's largest market.

FanDuel — #1 US Online Sportsbook

FanDuel Group is Flutter's US brand and the #1 online sportsbook in the United States by market share (~40%+). FanDuel offers sportsbook, iCasino, DFS, and horse racing (TVG). Flutter owns 77.4% of FanDuel, with Fox Corporation holding 17.6% and Boyd Gaming holding 5%. FanDuel achieved sustained profitability in 2023 — the first major US online sportsbook to do so. CEO Amy Howe was named C-Suite Executive of the Year at the American Gambling Awards 2024.

Paddy Power — Ireland & UK

Paddy Power is Flutter's Ireland and UK brand, known for its distinctive marketing and retail betting shops. The brand operates over 250 retail betting shops across Ireland and the UK, plus a leading online sportsbook, casino, and gaming platform. Paddy Power is one of the most recognized gambling brands in Ireland.

Betfair — Betting Exchange Pioneer

Betfair is the world's largest online betting exchange, allowing customers to bet against each other rather than against a bookmaker. Acquired by Flutter (then Paddy Power) in the 2016 merger, Betfair also offers a traditional sportsbook, casino, and poker. The betting exchange model provides better odds and more betting options than traditional bookmakers.

PokerStars — Global Poker Leader

PokerStars is the world's largest online poker platform, acquired by Flutter through the 2019 The Stars Group acquisition. PokerStars offers cash games, tournaments (including the World Championship of Online Poker — WCOOP), and Spin & Go fast-fold games. The platform operates globally with particularly strong presence in Europe and Latin America.

Sky Betting & Gaming — UK Digital Leader

Sky Betting & Gaming is Flutter's UK digital brand, acquired through The Stars Group deal. The brand includes Sky Bet (sportsbook), Sky Vegas (casino), and Sky Casino. Sky Betting is known for its strong mobile presence and integration with Sky Sports television content.

Sportsbet — Australia Market Leader

Sportsbet is Flutter's Australian brand and the #1 online sportsbook in Australia. The brand offers sports betting, racing, and novelty bets, and is known for its creative marketing and social media presence. Sportsbet has been a strong contributor to Flutter's international revenue.

Sisal — Italy Market Leader

Sisal is Flutter's Italian brand, acquired in 2022 for €1.9 billion. Sisal is the leading gaming operator in Italy, offering sports betting, lottery, and online gaming. The acquisition strengthened Flutter's position in the Italian market, one of Europe's largest regulated gambling markets.

2016 — Paddy Power & Betfair Merger

Paddy Power and Betfair agreed to merge on September 8, 2015, creating Paddy Power Betfair plc. The merger was completed on February 2, 2016, with Paddy Power shareholders owning 52% and Betfair shareholders owning 48%. The combined entity became one of the largest gambling companies in the world.

2018 — FanDuel Acquisition

In May 2018, following the Supreme Court's PASPA ruling that legalized US sports betting, Paddy Power Betfair acquired FanDuel for $158 million, merging its existing US operations into FanDuel to form FanDuel Group. The company held a 61% controlling stake with options to increase to 80% and then 100%.

2019 — Rebrand to Flutter Entertainment

On March 6, 2019, Paddy Power Betfair announced it would rebrand as Flutter Entertainment, reflecting the growing number of consumer brands in its portfolio. The name "Flutter" came from a betting exchange acquired by Betfair in 2001.

2019 — The Stars Group Acquisition

On October 2, 2019, Flutter announced the acquisition of Canadian gambling operator The Stars Group for $6.95 billion, creating the world's largest online gambling company by revenue. The deal added PokerStars, Sky Betting & Gaming, and Fox Bet to Flutter's portfolio. Fox Corporation took a 2.6% stake in Flutter with an option to acquire 18.5% of FanDuel.

2020 — Increased FanDuel Stake

In December 2020, Flutter purchased an additional stake in FanDuel from Fastball Holdings, increasing its ownership to 95%. The company later consolidated to 77.4% after Fox Corporation exercised its option.

2021 — Adjarabet & Sisal Acquisitions

Flutter acquired a controlling stake in Adjarabet (Georgia) and announced the acquisition of Sisal (Italy) for €1.9 billion, expanding into the Georgian and Italian markets. Sisal completed in 2022.

2023 — FanDuel Profitability

FanDuel achieved positive EBITDA in 2023, becoming the first major US online sportsbook to reach sustained profitability. This milestone validated Flutter's US investment strategy and FanDuel's market leadership.

2024 — NYSE Primary Listing

Flutter Entertainment moved its primary listing to the New York Stock Exchange (NYSE: FLUT) in 2024, while maintaining a secondary listing on the London Stock Exchange (LSE: FLTR). The move reflected the growing importance of the US market to Flutter's business.

2024 — Record Revenue

Flutter reported £14.0 billion in revenue for 2024, with the US (FanDuel) becoming the company's largest market. The company maintained its position as the world's largest online gambling company and continued to invest in product innovation and market expansion.

Flutter Entertainment is committed to responsible gaming across all its global brands. As the world's largest online gambling company, Flutter has implemented industry-leading responsible gaming programs through its Positive Impact Plan:

• Positive Impact Plan — Flutter's comprehensive sustainability strategy includes responsible gaming as a core pillar, with targets for 40% female representation in leadership by 2026 and global responsible gaming standards across all brands.
• My Activity Dashboards — All Flutter brands (FanDuel, Paddy Power, Betfair, PokerStars, Sky Betting, Sportsbet) provide players with detailed insights into their betting behavior, including time spent, money wagered, and win/loss history.
• Deposit & Spending Limits — Players can set daily, weekly, and monthly deposit and spending limits across all Flutter platforms. Limits can be adjusted but increases require cooling-off periods.
• Self-Exclusion & Time-Out — All brands offer self-exclusion programs coordinated with national regulators (UK Gambling Commission, state gaming commissions, etc.) and time-out periods for temporary breaks.
• Electronic Self-Exclusion — Flutter pioneered electronic self-exclusion in retail betting shops (Paddy Power), replacing paper-based processes with an app-based system implemented across the UK.
• Global Partnerships — Flutter partners with responsible gaming organizations globally, including the National Council on Problem Gambling (US), GamCare (UK), and equivalent organizations in Australia, Italy, and other markets.
• Underage Gaming Prevention — Advanced identity verification and age verification technology across all brands. All users must meet minimum age requirements (18+ in most international markets, 21+ in US sports betting).

Players experiencing gambling-related harm can contact national helplines: National Problem Gambling Helpline (US) at 1-800-522-4700, GamCare (UK) at 0808 8020 133, or their local responsible gaming organization.