Flutter predicts £300m in World Cup stakes from its UK and Ireland brands

Flutter predicts £300m in World Cup stakes from its UK and Ireland brands

As the 2022 FIFA World Cup gets underway, Flutter Entertainment has confirmed that the Qatar-based competition is set to be the most popular betting event of the calendar year for the group.

The sports betting, gaming and entertainment provider’s UK and Ireland brands – Sky Betting & Gaming, Paddy Power and Betfair UK – have predicted over £300m in overall stakes from fans of England and Wales.

Flutter outlined that the tournament may see betting levels surpass those placed through the 2018 World Cup – widely considered the biggest staking sports event of all time – with FIFA-led analysis estimating that €136bn was staked globally. 

“This will ultimately depend on the performance of certain teams, with Flutter’s FanDuel and Sportsbet brands set for greater customer engagement given that USA and Australia have both qualified for the tournament,” the group asserted.

Furthermore, the unique timing, location and climate for the 2022 World Cup have been several key factors that its Risk and Trading team have considered when pricing each game, as well as the favourites for the tournament.

Outlining the ‘vital role’ that Risk and Trading plays within Flutter during the World Cup, Group Chief Trading Officer, Dom Crosthwaite, said: “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 – all important markets to Flutter. 

“With 9.5m 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.”

The USA is priced 125/1 to win this year’s World Cup at, which represents Flutter’s biggest overall liability in the outright book – three times the amount of Argentina in second. 

Source: SBC News