US Gambling Market to Hit $63B by 2030, Says Flutter

The US gambling market is projected to surge past $63 billion by 2030, according to Flutter, the parent company of FanDuel. This updated estimate is a major increase from the $40 billion market size forecasted by the company in 2022. Flutter’s CEO, Peter Jackson, expressed strong confidence in the projection, highlighting FanDuel’s leading position in both sports betting and iGaming across the US.

Following the announcement of a $5 billion share buyback program, Flutter’s stock jumped 8% to a record high. The company also anticipates 14% annual revenue growth, expecting to reach $21 billion by 2027, nearly doubling its 2023 revenue of $11.79 billion.

Globally, Flutter predicts the gambling market will grow to $368 billion by 2030. The company recently expanded its international footprint by acquiring Playtech’s Italian gambling business for $2.6 billion, securing its status as Italy’s market leader.

In the US, FanDuel operates in 26 states, with Flutter estimating that the platform will achieve $2.4 billion in EBITDA by 2027. As states like California and Texas have yet to legalize online betting, Jackson is optimistic that more states will enter the market, giving Flutter access to about 80% of the US gambling landscape.

With strong growth both domestically and internationally, Flutter is poised to dominate the gambling industry in the coming years.