Gambling giants set to results after big summer sporting events

Some of the biggest names in gambling are set to announce their British financial results after a busy summer of sport.

The Euro 2024, the Paris Olympics, and Copa America kept seasoned gamblers happy in the break between the biggest global soccer campaigns.

Euro 2024 in particular received criticism from soccer fans after the results and the low-scoring games led to a less than entertaining showcase. This was a boon for bookies as they capitalized on the stalemates that led to Spain winning the competition.

Global powerhouses in parlay placing such as Flutter Entertainment, who control Paddy Power and Betfair in the United Kingdom, will be releasing British figures today.

Evoke Gaming, who operate the 888 brand and long-standing bookie William Hill in the UK will release their takings later in the week on Thursday.

The summer of sport will have no doubt kept the gambling reels rolling, with Morgan Stanley predicting that Flutter will report adjusted earnings of $638m (£501m) for the previous three months.

Flutter have a huge global reach with their US-based operations revolving around FanDuel. The popular betting application has been growing across America, challenging Draft Kings’ dominance in Ohio for example.

FanDuel’s fantasy and in-play parlay markets have opened up a swathe of new options for states looking to cash in on gambling taxes. Certain states like Nebraska have revised their take on gambling controls and the pressure that could be relieved on taxpayers if the stringent existing measures are lessened.

It’s not a shoo-in for Flutter as there is serious competition from existing rivals. We recently looked at the dominance of FanDuel coming to an end in the District of Columbia after three record months for the betting provider brought in $78.5m.

DC has now opened the gates to a multi-provider system for gambling, meaning BetMGM and Caesars Sportsbook can now get in on the action across the state.

Image: Pexels.

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