Flutter UK &I expect World Cup stakes to reach over £300m
FTSE 100 operator expects fans of England and Wales to help break previous betting records
Flutter UK&I expects its brands to see stakes reach over £300m for the upcoming FIFA World Cup, with strong interest from its global customer base. The operator is looking to fans of England and Wales in particular to boost the figures above its prediction with brands Betfair, Paddy Power and Sky Betting & Gaming. The FTSE 100-listed firm also expects betting levels globally to surpass the record set at the last World Cup in Russia which, according to a FIFA-led analysis, estimated betting turnover at €136bn (£118.30bn). Flutter expects this prediction to ultimately depend on the performance of certain teams, as its FanDuel and Sportsbet brands have a large customer base in the USA and Australia, respectively. The USA are Flutter’s biggest overall liability, with odds on the men’s national soccer team (USMNT) winning the cup in Doha on 18 December at 125/1. The operator states that this demonstrates the importance of the group’s risk and trading operation in determining whether or not the tournament is a success for Flutter, given that it has a vast customer base across a number of markets. Outlining this department’s role, group chief trading officer Dom Crosthwaite explained: “The World Cup is undoubtedly the biggest betting event of the year, and everyone at Flutter shares the excitement of our customers as the tournament gets underway. Our UK and Ireland brands are set to manage over £300m in stakes, but we expect global customer interest considering the involvement of countries such as the USA, Australia, Spain and Brazil. “With 9.5 million average monthly players now engaging with our brands around the world, many of whom are likely to bet on their own country, our global risk and trading operation must provide a compelling World Cup proposition, distribute accurate prices and manage risk effectively across the group. We look forward to seeing who wins the biggest prize in global sport,” he added. EGR recently explored the challenges operators are facing ahead of the upcoming World Cup in Qatar.