About Flutter Entertainment
Flutter Entertainment plc operates as a global sports betting, gaming and entertainment provider. The company’s operations range from on-course bookmaking to daily fantasy sports (DFS), with sportsbooks, exchanges, broadcasting, editorial, and B2B in between. Divisions The company operates through four divisions, including Online, Australia, US, and Retail. Online Online division consists of the Paddy Power, Betfair and Adjarabet online sites, which offer sportsbook, exchange and gaming services across the U.K. and Ireland, Europe and International territories. The division also includes the company’s Dial-a-Bet telephone betting service in Ireland and the U.K. and a range of global B2B partnerships, where the company supplies either its pricing or exchange technology to third parties. Australia Australia division consists of Sportsbet, the corporate bookmaker in the Australian online market. Sportsbet combines innovative products and high levels of promotional generosity to form a customer proposition. US US division is called FanDuel Group. It operates the FanDuel sports betting brand (retail and online) in New Jersey, West Virginia and Pennsylvania; the FanDuel DFS brand across 40 states. TVG, which broadcasts horseracing across the U.S. and operates an online advance deposit wagering network; Betfair New Jersey online casino; and Betfair New Jersey horseracing betting exchange. Retail Retail division consists of 626 Paddy Power betting shops across the U.K. and Ireland. The Paddy Power estate focuses on providing a sports betting experience, driven by a range of TV content and strong pricing and promotions. The company also offers dynamic multichannel products, such as its PP Onside app, which bridge the gap between retail and online. Products Sportsbooks Sportsbooks are traditional bookmaking products, where the company acts as the bookmaker, offering odds on outcomes and taking bets from customers. The odds it offers apply an expected margin, designed to enable it to retain a net return after the settlement of all bets. The company operates sportsbooks under the Paddy Power, Betfair, Sportsbet, FanDuel and Adjarabet brands and employ a trading team (based across Dublin, Melbourne and New York) to set its odds. The company has also developed proprietary algorithms that allow it to offer a range of markets, and keep them active across key points in the game. Exchange The Betfair Exchange is a platform, which enables customers to bet against each other. DFS DFS is a product where customers select virtual teams of athletes to play against each other for a pre-determined prize pool. The athletes earn points based on their real-life performances and the DFS player with various points wins the contest. The company operates DFS under the FanDuel and DRAFT by FanDuel brands, which offer two separate models of selecting a team; the traditional ‘salary cap’ draft, and a ‘snake’ draft which is popular with recreational players. Advanced Deposit Wagering (ADW) ADW services accept online horseracing wagers from the U.S. customers and then forward these into track-based pools, also known as Totes. ADW services take no risk on the outcome of the event, but earn commission from the pool operators on the wagers they forward. The company operates ADW under the TVG brand. Gaming Gaming products involve customers betting on a range of skill-based games, games of chance and peer-to-peer games. These include online Casino, Poker, Bingo and Games, along with machine gaming terminals in the U.K. retail betting shops. The company operates Gaming under the Paddy Power, Betfair and Adjarabet brands, and the Paddy Power retail brand in the U.K. Editorial The company’s Timeform business (based in Halifax) provides form, tipping and content services across a range of sports, including horse-racing, football and basketball. Television The company’s TVG business is the #1 horse-racing broadcaster in the U.S., acting like a combination of Racing TV and Sky Sports Racing in the UK, with TVG1 and TVG2 broadcast into 40 million homes. TVG’s broadcasting acts as a key way of promoting its TVG ADW service, and also earns advertising revenues. Strategy The key elements of the company's strategy are to grow Betfair in the rest of the world; attain podium positions in additional regulated markets; and pursue the U.S. opportunity rigorously. History The company was founded in 1988. It was formerly known as Paddy Power Betfair plc and changed its name to Flutter Entertainment plc in May 2019.