Flutter Entertainment cashes in on FanDuel, posting 27% revenue increase in 2022

Flutter Entertainment cashes in on FanDuel, posting 27% revenue increase in 2022

Article brief provided by Front Office Sports
  • Abigail Gentrup, Front Office Sports
March 2, 2023 8:41 PM
  • Abigail Gentrup, Front Office Sports

FanDuel, which claims it has a 50% market share in the U.S. sports betting market, continues to pay off for its parent company.

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Flutter Entertainment, which also owns Betfair, Paddy Power, and PokerStars, posted a 27% increase in revenue to roughly $9.19 billion for its preliminary 2022 results, with average monthly players increasing 26%, attributed to expansion in the U.S. and benefits of the acquisitions of Sisal and Tombola. The increase in revenue was driven by a 67% sales jump in FanDuel, which is on track to become profitable this year.

In the U.S., Flutter’s revenue reached $3.2 billion.

But Flutter took a hit of around $47.8 million in December due to “customer friendly results” during the World Cup and in the Premier League.