Flutter Entertainment has reported a 19% year-over-year revenue increase, reaching $14.05 billion in 2024. The company’s strong performance was fueled by significant growth in its U.S. market, where FanDuel reinforced its leadership in both sports betting and iGaming. Net income saw an even more dramatic shift, rising 113% YoY to $162 million, a stark contrast to the $1.2 billion loss recorded in 2023.
CEO Peter Jackson expressed confidence in the company’s trajectory, stating that Flutter has had a “great start” to 2025 and is well-positioned to build on this momentum. The operator has set ambitious projections for 2025, with expected revenue ranging between $15.48 billion and $16.38 billion.
U.S. Market Fuels Flutter’s Growth
The company’s U.S. segment continues to be a key driver of success. Revenue in the region surged 30% YoY to $5.73 billion, compared to $4.39 billion in 2023. FanDuel maintained its position as the top sportsbook in the U.S., securing a 43% market share in sports betting and 26% in iGaming by the end of Q4. 
Despite what Flutter described as “the most customer-friendly NFL results in 20 years,” U.S. revenue grew 14% YoY in Q4 to $1.61 billion. However, adjusted EBITDA in the region declined 3% YoY to $163 million, with sports outcomes impacting profitability. Looking forward, Flutter expects U.S. revenue in 2025 to range between $7.47 billion and $7.97 billion, with adjusted EBITDA projected between $1.28 billion and $1.52 billion.
Performance Across Key Global Markets
Outside the U.S., Flutter saw notable revenue growth in several key regions. In the UK and Ireland, revenue increased 20% YoY to $3.28 billion, up from $2.74 billion in 2023. Italy also performed strongly, with revenue climbing 10% to $1.48 billion.
Australia was the only major market to experience a decline, with revenue falling 3% to $1.4 billion. Flutter attributed this to expected market trends but highlighted positive player engagement, marking three consecutive quarters of average monthly player (AMP) growth.
Internationally, revenue grew 20% YoY to $872 million, with standout performances in India, Turkey, Georgia, and Brazil. The company’s expansion efforts are expected to continue with the acquisition of NSX in Brazil and Snai in Italy, both on track for completion in Q2 2025.
Flutter’s Strategic Edge and 2025 Outlook
A major factor behind Flutter’s success has been its Flutter Edge platform, which Jackson described as a “unique competitive advantage.” The platform delivered market-leading product innovations to 35 million customers worldwide in 2024, reinforcing Flutter’s leadership in key regions.
Jackson emphasized the company’s long-term vision:
“I am proud of the progress we made during 2024 as we delivered against our strategic priorities and enhanced our leadership positions.” He also highlighted FanDuel’s dominance in the U.S. market, stating, “FanDuel remains America’s number one sportsbook with its leading product maintaining a clear structural revenue margin advantage over competitors.”
Additionally, the company emphasized its commitment to responsible gaming, highlighting the launch of the Responsible Online Gaming Association in the U.S. and an increase in players using Play Well tools compared to 2023.
Flutter’s share repurchase program also signals strong confidence in its financial position. The company returned $121 million to shareholders in Q4 2024 and expects to repurchase up to $1 billion in shares throughout 2025.
With 2025 already off to a strong start, Jackson remains optimistic about the company’s ability to capitalize on emerging opportunities. He noted that Super Bowl LIX saw record-breaking engagement, with 3 million active FanDuel customers placing 17.7 million bets totaling $470 million.
As Flutter continues its global expansion, the company’s focus on innovation, market leadership, and responsible gaming positions it as a dominant force in the iGaming industry for the years ahead.
