Flutter Entertainment posted record US results for 2025, confirmed in its full-year earnings release on February 26, 2026. FanDuel, Flutter’s primary US brand, extended its position as the country’s leading online sportsbook and casino platform — widening its market share lead in both sports betting and iGaming across licensed states.
US revenue for the full year grew 20% year-on-year, with Q4 2025 delivering particularly strong numbers: 33% revenue growth and 90% adjusted EBITDA growth compared with Q4 2024. For the full year, Flutter’s US segment posted adjusted EBITDA of $922 million, up 82% from 2024 — a figure that marks a decisive shift from investment-led growth to profitable, scaled operations.
FanDuel’s market position in Q4 2025 was 41% sportsbook gross gaming revenue (GGR) share and 28% iGaming GGR share across licensed US states. Both represent clear leads over the nearest competitors. At group level, Flutter reported full-year 2025 revenue of $16.38 billion and issued 2026 revenue guidance of $18.4 billion — implying another year of double-digit percentage growth.
Flutter also announced the launch of FanDuel Predicts in Q4 2025, a prediction markets product available in 18 states including California, Florida, and Texas — markets where traditional sports betting remains unlicensed. The product targets a broad demographic of players who engage with financial and sports prediction markets, and Flutter characterised it as a meaningful expansion of FanDuel’s US addressable market beyond its current licensed sportsbook and iGaming footprint.
For casino players, FanDuel’s financial position points to sustained investment in its iGaming product. The operator’s 28% iGaming GGR share across licensed states indicates it remains competitive with DraftKings in casino, even as its sports betting lead is more pronounced. Competitive pressure from well-capitalised rivals will likely continue to drive promotional activity in maturing states such as New Jersey, Michigan, and Pennsylvania.
