Flutter holds a leading revenue share in many countries, giving it the scale to invest behind risk management tools, product offerings, and efficient marketing. As of Dec. 31, 2024, the company offered products in over 100 countries and had 13.9 million average monthly users. The company faces a complex landscape of tax hikes, regulatory tightening, and an evolving competitive field that includes prediction markets and high-tech rivals.
Cyborg Score Rationale
Flutter's scale, technology, and dominant positions in key markets like the U.S., Italy, and Brazil provide a formidable moat. However, the UK government announced a massive hike in iGaming duty from 21% to 40%, which Flutter estimated would create a $320 million EBITDA headwind in 2026.
Top Insights
UK iGaming tax increase from 21% to 40% will reduce EBITDA by approximately $320 million in 2026
U.S. 'One Big Beautiful Bill Act' limiting gambling loss deductions to 90% of winnings has reduced handle from professional and semi-professional bettors
Convergence of sports betting and financial prediction markets emerging, with iGaming becoming primary profitability driver due to higher margins
22 analysts rate FLUT as 'Strong Buy' with 12-month target of $281.45, implying 125.46% upside from current levels
Named Competitors
DraftKings — Daily fantasy sports and sports betting operator