Flutter announces revenue increased by 19% in 2024 to £10.9 bn

IMAGO

Flutter announced today, 5 March, that its revenue in 2024 grew by 19% to £10.9bn. 

The owner of SkyBet and Paddy Power, and the world’s biggest online sports betting firm, also announced that its average monthly players has increased by 13% in the same period to over 13.8 million. 

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As part of the highlights, Flutter announced that there was significant growth in the UK. Since news of their end of year results, the company's share price has increased. 

CEO of Flutter, Peter Jackson, commented on the annual report: “I am proud of the progress we made during 2024 as we delivered against our strategic priorities and enhanced our leadership positions. 

“Our commitment to first-to-market product innovation led to market share gains in key markets including the UK and Italy, while in Australia, we saw encouraging trends in our player base. 

“A key driver of our success has been the Flutter edge, our unique competitive advantage, which delivered innovative product propositions to 35 million customers worldwide.”

Flutter’s fiscal year that ended 31 December continues to show growth, with a 26% increase in EBITDA (earnings before interest, taxes, depreciation and amortisation), a 113% increase on net income and a 64% increase in adjusted earnings per share. 

In the UK, the last three months of 2024 showed significant growth for the company. Revenue for the period (Q4) was up 20% - from 2023 - to £963m. 

Flutter’s full year results show that the company had revenue in the UK of £2.18bn and had an average of 4.2 million people play on their sites or in their brick-and-mortar shops every month. 

The growth included a 31% increase across its sports betting offerings and 16% for their gaming divisions. 

Favourable English Premier League results and, as Jackson mentioned, the well-received development of products including ‘Bet Builders’ allowed the company to enjoy growth. As a result, the UK’s adjusted EBITDA increased 17%. 

Flutter’s results come in spite of the company announcing that NFL results were ‘customer friendly’ and impacting the business. Just two months ago, the company stated that NFL results were the ‘worst in 20 years’ and would impact the finances by £319m. 

The company moved its primary main market listing from London to New York and, on news of their 2024 results, saw their share price increase by 2.87% at the time of writing.  

When discussing their 2025 performance to date, Flutter revealed that sports results have been ‘broadly neutral to date’ with customer friendly results in January being offset by the result of Super Bowl LIX.

In the UK, 2025 performance to date is strong after the positive customer base carried into Q1 for 2025.