Flutter reports FanDuel Predicts reaches 140,000 active users in October
Deals & M&A2 min read
In brief
- Flutter said FanDuel Predicts had 140,000 active users in October.
- Third-quarter trading volume was $119m, 102% above the second quarter.
- October volume was 271% higher than July, Flutter said.
- Taylor said the product is now competitive after investment and changes.
Flutter Entertainment said FanDuel Predicts had 140,000 active users in October. Flutter also said the product recorded $119m in trading volume in the third quarter, 102% more than in the second quarter. October volume was 271% higher than in July, according to the report.
Flutter chief executive Dan Taylor said the FanDuel prediction markets product was not competitive when he joined FanDuel in the spring. He spoke at the third-quarter results presentation on 4 November, his first appearance after replacing Peter Jackson. Taylor said the product has improved markedly because of sustained investment and recent strategic changes. He now describes the product as truly competitive.
Taylor cited a change of provider for sports event contracts, from CME Group, the partner in the FanDuel Predicts joint venture, to Crypto.com. He also cited wider parlay markets and a move to an all-in-one app. Taylor and chief financial officer Rob Coldrake also discussed FanDuel holding its own registration as a Futures Commission Merchant. They also discussed FanDuel's full entry into B2B market making.
Taylor said his priorities include strengthening FanDuel's leadership in the US market. He said Flutter should invest with discipline and stay flexible enough to adapt quickly to changing regulation.
A Flutter spokesperson confirmed that Christian Genetski will become permanent chief executive of FanDuel. Genetski had held the post on an interim basis after replacing Amy Howe.