Q3 Financials Show Flutter Leads The Legal Sports Betting Market

• Flutter Entertainment has released its Q3 financial report.
• The report shows that Flutter Entertainment is the number one sportsbook provider in the US.
• Reports show a 46% online sportsbook market share.

DUBLIN, Ireland. – The Q3 numbers for Flutter Entertainment have been released via the official financial report. The report confirms claims that Flutter Entertainment is the number one sportsbook provider in the US.

Flutter currently holds a 46% online sportsbook market share in the country, mainly through its subsidiary FanDuel sportsbook. In addition, the company also holds a 29% online share in total.

With FanDuel sportsbook’s many expansions into growing legal sports betting markets, and even more regulated betting incoming, it is expected for Flutter to continue to dominate in the legal sports betting industry.

Flutter Leads Market

The FanDuel parent company has seen more than 450,000 new customers added to its 1.8 million active customers in Q3 alone. This is a better-than-forecast result.

Since Flutter holds several substantial multi-year tier 1 media partnerships, the company’s expectations have increased with the influx of new users.

Now it is projected for the company’s total US GGR to exceed $1.1 billion by the end of 2020 alongside more than $850 million NGR.

“Flutter’s performance in the third quarter exceeded our expectations in both sports and gaming,” said Peter Jackson, Chief Executive of Flutter Entertainment. “We are very pleased to have retained our position as the number 1 online operator in the US, where FanDuel has made significant progress against each of its key priorities. We are on track to generate more than $1.1 billion of GGR in the US this year, which will mark a major ‘first’ for an online operator. As such we are in a unique position to respond to the many opportunities we see across our growing markets. Looking ahead, whilst the outlook with respect to Covid-19 remains uncertain, we are confident that our business is well positioned to capture further growth in a sustainable and responsible way.”

Flutter’s increase in 2020 is apparent compared to last year, as well. Flutter saw an 82% increase in the 2020 year over year compared to Q3 2019’s numbers. In sports betting revenue specifically, the company saw a 36% increase year-over-year.

The optimism at flutter to maintain the growth and continue to hold on as a market leader is very much apparent. New sports betting markets like Louisiana is expected to be a major draw for the FanDuel sportsbook, further increasing Flutter’s stronghold.

The future of the sports betting company is as bright as the current landscape. Should things continue as is, Flutter Entertainment should capitalize as a market leader in legal sports betting for years to come.

News tags: Dublin | FanDuel | FanDuel Sportsbook | Flutter Entertainment | Ireland | Peter Jackson | sports betting | Sportsbook