Flutter Entertainment forecasts more growth to come following a strong performance in 2024

Gambling industry giant Flutter Entertainment enjoyed a year of growth in 2024 and forecast there was more to come as it unveiled its latest financial results on Tuesday evening.

The parent company of Paddy Power and Betfair, which moved its base to New York last year, has further cemented its position as the market leader in the US market.

Flutter said its US arm FanDuel had become the number one operator in both sports betting and iGaming during the fourth quarter of 2024, with market shares of 43 per cent and 26 per cent respectively.

Revenue in the US grew by 14 per cent during those three months, despite what Flutter described as "the most customer friendly NFL results in 20 years".

Group revenue for the year increased by 19 per cent to $14.05 billion (approx £11bn/€13.2bn), adjusted core earnings rose by 26 per cent to $3.26bn, while average monthly players for the year grew by 13 per cent to 13.9 million. 

Outside the US, revenue also grew by 14 per cent during the fourth quarter of 2024, with strong performance in the UK and Ireland division driven by "sustained sportsbook and iGaming product innovation".

Flutter said the division had taken four percentage points of market share over the last two years.

Flutter Entertainment chief executive Peter Jackson

Chief executive Peter Jackson said: "I am proud of the progress we made during 2024 as we delivered against our strategic priorities and enhanced our leadership positions. 

"FanDuel remains America’s number one sportsbook with its leading product maintaining a clear structural revenue margin advantage over competitors. At the same time, excellent execution secured a new number one spot for FanDuel casino in iGaming. 

"Outside of the US, our commitment to first-to-market product innovation led to market share gains in key markets including the UK and Italy, while in Australia we saw encouraging trends in our player base."

Flutter introduced guidance for 2025, projecting year-on-year growth in revenues of 13 per cent to between $15.48bn and $16.38bn and 34 per cent growth in core earnings to between $2.94bn and $3.38bn. 

The company said 2025 had started well, with growth in the amount wagered in the US having "stepped up" from the final quarter of 2024 and "overall underlying trends in line with our expectations".

The company said sports results in the US had been "broadly neutral", with a positive outcome to the Super Bowl offset by customer-friendly sports results in January. 

Jackson added: "We have had a great start to 2025, including record levels of customer engagement for the Super Bowl where FanDuel had three million active customers placing 17.7m bets with $470m wagered on the day."

Read these next:

Flutter Entertainment issues profit warning as American Football fans go on winning run 

Ian Brown to step down as Flutter UK and Ireland chief executive as part of restructuring of gambling giant 

Flutter Entertainment raises forecasts for the year despite US punters enjoying winning run on NFL 

Sign up to receive On The Nose, our essential daily newsletter, from the Racing Post. Your unmissable morning feed, direct to your email inbox every morning.