Flutter Entertainment’s 100-strong trading team gears up for World Cup betting bonanza
Flutter Entertainment has predicted UK punters will bet more than £300m in stakes during the 2022 FIFA World Cup in Qatar.
The tournament – which is the most popular betting event of the year for most operators – kicked off yesterday as Ecuador defeated hosts Qatar 2-0 in Doha.Flutter – which boasts the Sky Bet, Paddy Power and Betfair brands in its UK & Ireland portfolio – says the tournament may surpass the previous betting record set during the 2018 World Cup in Russia, where an estimated €136bn was staked globally.
The overall stakes will be highly dependent on the performance of specific countries, with Flutter also guiding to increased activity in the US (FanDuel) and Australia (Sportsbet) following the successful qualification of both nations.
At odds of 125/1, the US winning the World Cup represents Flutter’s biggest overall liability in the outright market – three times more than Lionel Messi-led Argentina in second.
Flutter said the tournament would demonstrate the importance of the group’s risk and trading operation as its customer base has become increasingly global and potential exposures have emerged in different markets.
Flutter trading chief Dom Crosthwaite: “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.”
The FTSE 100 operator employs a 100-strong team of football experts across specialist roles including in-play traders, odds compilers, performance analysts and product managers.These staff will be particularly crucial for Flutter during the World Cup while based in trading centres across Dublin, Melbourne and New Jersey.
At odds of 7/2, Flutter has priced five-time champions Brazil as current favourites to lift the trophy, with England captain Harry Kane the 15/2 favourite for the Golden Boot award.
Flutter 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.
“With 9.5 million 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,” he added.
Both England and Wales get their tournaments started today (21 November) with Group B matches against Iran and the USA, respectively.