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Flutter places bet on FanDuel going publicINTL

Flutter places bet on FanDuel going public

Irish gambling company Flutter Entertainment is thinking about rolling the dice on a public offering of its ownership stake in FanDuel, making a wager on the further legalization of sports betting in the United States. Flutter increased its ownership of the American sports betting company to 95% last December.  

In a very Thomas Shelby kind of move, Flutter, based out of Dublin, has identified the United States as its next big growth market. The company is the world’s largest online betting group and controls an estimated 40% share of the American online gambling market.

why it matters
Flutter anticipates $19b for the taking by 2025 as more states pass legislation legalizing sports betting. Investors can also benefit from the game — in fact, competitor DraftKings (DKNG) has seen a 700% increase in its stock since going public in December of 2019.