Why the share price at Ireland’s biggest gambling company has crashed by over 60%
Flutter's stock has plummeted over 60% due to slowing growth in the US, regulatory issues in India, and rising competition from prediction markets.Summary
Flutter, the world's largest online gambling firm, saw its share price crash by over 60% in less than a year, dropping from over $300 to around $100 per share. The company's value was driven by its US sports betting division, FanDuel, which it acquired in 2018 and eventually bought out completely in 2025. However, the stock has suffered due to a series of setbacks. In November 2025, Flutter announced a large impairment charge on its Indian business, Junglee Games, after India banned real-money gaming, and lowered its earnings guidance. Furthermore, FanDuel's growth has slowed, with revenue increasing by only 6% in early 2026 compared to the previous year, and its core profits are expected to rise by just 4%. This slowdown is attributed to market saturation in some US states, high taxes on gambling operators, and the emergence of a new threat: prediction markets. These platforms allow users to trade contracts based on event outcomes, offering potentially better odds than traditional bookmakers and posing an existential threat to Flutter's business model. Flutter has launched its own prediction platform, FanDuel Predicts, but analysts remain unconvinced. The company's dominance in the US market is now in question, and its status as a reliable growth engine has been lost.
(Source：Thejournal)