U.S. gambling market set to hit 60 billion by 2030
60 billion, can you believe it? Here’s a story that’s been making news in the industry ever since it broke. Flutter Entertainment’s projection that the U.S. online gambling market will exceed $60 billion by the year 2030. A growth rate nearly 60% higher than its forecast of 2 years ago.
As the owners of the FanDuel online gambling brand, Flutter’s stock increased by 8% with the news. Marking a record high for the company. Additionally, it also announced the launch of a $5 billion share repurchase programme (granted, it’s no 60 billion), along with its projection reveal.
What does 60 Billion mean for North American gambling?
What does this 60 billion mean for North American gambling as a whole? According to Flutter, gambling across the continent will reach a high of $70 billion by 2030. With the U.S. accounting for a full $63 billion of this total. This marks a significant increase from Flutter’s original estimate of $40 million for the U.S. market, as projected in 2022. And if you thought those were impressive numbers. That’s nothing compared to Flutter’s global projection of $368 billion for the total addressable market.
Are Flutter’s figures correct? The company seems to think so. With assurance in its ability to accurately project market growth for the industry. I mean, 60 billion is massive.
“We are the no. 1 business here in America with FanDuel, no. 1 in sports, and no. 1 in iGaming, and it gives us a lot of confidence around projecting the size of the market,” says Flutter CEO Peter Jackson (as cited by Yahoo Finance). Cheers to 60 billion.
It’s an enviable position to be coming from.
Particularly considering Flutter’s global reach and success. Reporting an annual growth of 14% and a $21 billion revenue (again, no 60 billion) projection by the year 2027. Effectively doubling its 2023 revenue of $11.79 billion.
With solid numbers like these (60 billion etc) backing its claims, Flutter’s financial position is a strong one. Dominating the U.S. online gambling market with a 38% combined market share between sports betting and iGaming. It looks like a bright future ahead for online gambling in the U.S. and across the world then – roll on 2030!