Facts And Figures
The merger of two prominent companies will create the world’s largest online gambling and betting company. The two companies are worth roughly $12 billion, with around 4 million active customers.
In 2018, the companies reported a total annual revenue of $4.7 billion, in an industry worth roughly $450 billion. These players are spread through 100 international markets, so the merger will impact many players around the world.
What Does It Mean For Players?
According to Flutter, the new merger will ideally place the company in a position to capitalise on the growing US sports betting market.
In May 2018, the US Supreme Court relaxed a federal law which previously banned sports betting.
This change means that sports betting is legal in 11 states already, with more legislation changes on the way for further states.
The largest gambling companies are clamouring to be the first to capitalise on these law changes. This includes William Hill, 888 and GVC, who have all made moves across the water.
Although Flutter will maintain its core markets in the UK, Ireland and Australia, they are pursuing new opportunities in the US.
Increasing regulatory pressures in the UK have put pressure on the gambling industry. For example, the minimum wager on fixed-odds betting terminals has lowered from £100 down to just £2.
It is no surprise that the industry giants have made moves in the US to make up for the changes here which are impacting their bottom line.