This Week's Sports Betting Update
Spotlight Sports Group
Evolved from the Racing Post, we deliver distinctive sports betting experiences
Hello, we’ve taken a look at what’s news, trending and being talked about in the sports betting world this week. Grab a coffee, take five minutes and we’ll fill you in on everything you need to know.
One big story?
Flutter Entertainment revenue soars almost 25% year-on-year in 2023
Flutter Entertainment reported its full-year trading update for 2023, posting an almost 25% year-on-year rise in revenues to around ￡9.3 billion.
The parent company of Betfair, Paddy Power and Sky Bet also revealed its average active monthly players was up 20% year-on-year to 12.3 million, while its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was up over 45% year-on-year too.
Interestingly, Flutter still posted a net loss of ￡949 million, with the firm citing increased expenses and a substantial writedown against the value of the PokerStars brand as being its major issues.
FanDuel Sportsbook is the platform that continues to accelerate the group’s earnings profile. Revenues at FanDuel were up 40.7% year-on-year, posting a net-positive EBITDA worth ￡132.18 million.
Click here to learn more about the meteoric rise of FanDuel in the US sports betting and iGaming market, as well as Flutter’s anticipated primary stock listing on the New York Stock Exchange this summer.
What you need to know
Commercial
Regulation
The Indian ministry of information and broadcasting is clamping down on celebrities and Indian influencers advertising offshore iGaming and sports betting operators. The ministry says Indian celebrities taking to social media to promote these platforms will face rigorous scrutiny, which could end in penal action. More
Technology
The sports betting industry is embracing AI, with companies like OpenAI and Microsoft leading the charge. A recent Digital Innovation Day hosted by SBC focused on the implementation of AI in sportsbook technology - discussing its role in trading, risk management, and automation. Experts highlighted AI's ability to leverage vast data sets for improved decision-making and its potential to level the playing field for smaller companies competing with larger ones. More
People news
Anthony Pullin resigns as CFO of BetMakers
Anthony Pullin has announced his resignation as chief financial officer of BetMakers Technology Group. Pullin, who has been in the role since autumn 2018, formally steps down on 27 March.
BetMakers was Pullin’s first foray into the gambling sector, having previously spent time at White Cloud Capital, Duke Street, The Bank of England and KPMG Australia.
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Warrick van der Merwe will step in as interim CFO in the meantime, while the firm recruits for a permanent replacement.
Click here to get the views of BetMakers’ CEO, Jake Henson, on Pullin’s departure and his impact in the last five-and-a-half years.
This week's talking point
Entain chair Barry Gibson reflects on a tumultuous year
Entain, the parent company of Ladbrokes and Coral, published its annual report for 2023 last week. Within the opening section, chair, Barry Gibson, alluded to a period of necessary, but ultimately positive transition for the group.
Following the conclusion of its investigation by HM Revenue and Customs, resulting in penalties, donations and costs amounting to ￡615 million, Gibson insisted lessons had been learnt from the saga and Entain is looking to draw a line under it to look towards a brighter future.
Gibson admits the firm needs to embrace the concept of regulation. It’s why Entain has moved out of 140+ unregulated markets, foregoing upwards of ￡100 million in revenue in the process.
Gibson said the long-term benefits of working within well-regulated markets will far outweigh the short-term hit of exiting unregulated markets. He adds that this approach will deliver the enhanced value Entain’s shareholders demand from their investments.
Click here to hear more from Gibson, as well as interim CEO, Stella David, who stepped into the breach following the resignation of Jette Nygaard-Andersen in December 2023.
This week's insight
Why data is the bedrock of a sustainable Esports betting ecosystem
Esports is the first niche that comes to mind when you think about the next generation of sports betting and gaming entertainment. That’s why Amir Mirzaee, CCO and managing director of Bayes Esports, believes honing reliable and engaging Esports match data is vital to its success as a betting market.
Mirzaee believes that betting audiences can only engage with Esports if a data infrastructure is established, providing access to real-time player information, both in-game and post-match.
Mirzaee points to the likes of Formula 1 and the raft of Major League Sports in the US which have harnessed data and statistics to add new layers of engagement for sports bettors. He believes Esports needs similar treatment to establish itself firmly in the global betting industry.
Bayes Esports has become the official live match data supplier for events in Dota 2 and Counter-Strike 2, delivering reliable in-play match betting markets to help partnered operators to maximise their betting turnover.
Click here to learn more about how Bayes Esports is recording, housing and managing the historical Esports data using advanced machine learning models.
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