IG Group targets UK prediction market launch in 2027

Underdog acquisition

$1.1bn

Executives at IG Group used their Capital Markets Event on 22 October to announce ambitions in UK prediction markets, saying a launch could come as soon as late 2026 or 2027. At the event they cited rising interest in such products and described strong UK demand.

“trading, investing and entertainment are converging, and IG is well placed to capitalise on the opportunity.”

The move follows the London-based company's application for a UK Gambling Commission betting licence a week before the event. IG's retail investing division, IG Consumer, is expected to lead the project. IG Group plans to combine prediction markets, cryptocurrency products and traditional trading services on a single platform as it seeks a wider customer base.

Michael Healy, who heads IG Consumer, told the event that prediction markets fit naturally alongside what the business already provides.

Only months before this push, IG Group spent $1.1bn to buy Underdog, a US operator in fantasy sports and prediction markets. That business already runs prediction products in much of the US, and its experience is seen as useful for IG as it approaches a UK market that is still fairly new.

To support the rollout, IG Group plans a marketing campaign built around the idea of helping consumers "trade better". Advertisements are expected on major channels, including Sky Sports, to build awareness ahead of launch.

IG Group chief executive Breon Corcoran said at the Capital Markets Event: "trading, investing and entertainment are converging, and IG is well placed to capitalise on the opportunity." He added: "Today we will set out how we will deliver our next phase of growth ‐ broadening and enriching our propositions, investing in our brands and increasing efficiency." Corcoran also said the priorities build on the current plan, which he said has driven stronger active customer growth, and underpin his confidence that the company will create significant shareholder value in the coming years.

Separately, IG Group is working on a planned relocation to Jersey, which the report says is still expected to finish later this year or in early 2027. Some industry observers have argued that buying Underdog might prompt talk of future listing options, though no such plans have been announced by the company.