Paddy Power Betfair to be rebranded as Flutter Entertainment

21 May 2019

Paddy Power Betfair fobtA great decline in profit for the year 2018 seems to have forced Paddy Power Betfair towards a rebranding move. Although revenue for the year before reached £1.87b, which was way higher than 2017, profit actually went on a 5% decline reaching £451m. The company argued that the drop took place due to the operator's entrance to the US market along with the US FanDuel's buyout.

The annual meeting of the group was when the news about the rebranding of the company as Flutter Entertainment plc was publicised and when shareholders gave their approval. As representatives stated the re-branding move depicts the new direction the company is headed. Flutter Entertainment was actually related to Betfair even before these latest developments, as the two were actually standing on opposing sides on online betting products up until 2001 when they merged.

Some more 2018 financial stats on the operator include revenue from online channels going up 5% and reaching £948m, whereas sportsbook revenue saw a 3% increase going all the way up to £678m. Another important metric is exchange betting, which accounts for 38% of the total online betting and which witnessed a 2% decrease. On a more positive note though, online gaming revenue went up  13% all the way to £270m, which marked a significant improvement compared to last year.

Why choose Betfair

The greatest betting exchange
  • The largest and the most reliable betting exchange in the world
  • You can trade your bets
  • Wide range of markets
  • Great choice for advanced players
  • Great variety of products besides sports betting
  • Minimal margin on tournament winners & correct score
  • Huge range of payment methods & quick withdrawals
  • Top live streaming service
  • Cash out
Play now!
100% up to €20
BOOK SPY
BOOK SPY BONUS REVIEW

If you make yourself familiar with every pink and blue box, you’ll realize why Betfair is a completely different story from any other traditional bookie. The most famous betting exchange operator, Betfair has been in the industry since 1999 and have been the pioneers of a great number of services that almost all reliable bookies offer today. These include live streaming, cash out and many more. As a betting exchange they allow every bettor to act like a bookie himself and lay bets instead of only backing them. However their bonus policy is slim and perhaps could see an impovement.

 

10,000+ have already benefited from Bookmakers.bet

Register to our newsletter and be the first to get our exclusive bonuses and promotions. Fill in your name & email and stay tuned on the latest offers and the new bookmakers in your country.

I agree with the terms of use.

BOOK SPY

  The English Football League (EFL) defends its gambling sponsorships, as the UK government considers a potential prohibition on all betting oper...

Read more »

William Hill posted a positive Q3 net revenue increase in its online operations. It announced a 4% increase in the UK and 6% internationally for the t...

Read more »

The Spanish Directorate General for the Regulation of Gambling (DGOJ) has awarded a gambling license to William Hill’s sports betting subsidiary Mr Gr...

Read more »

The Regional Council of Darmstadt in Germany has awarded its first 15 betting licenses with immediate effect. Among the renowned operators that now ho...

Read more »

GVC Group, owner of Ladbrokes and Coral, has put pen to paper on the acquisition of Portuguese online operator Bet.pt in an effort to expand its posit...

Read more »

The Lithuanian Gambling Supervision Service, running under the Ministry of Finance, has issued updated ‘know-your-customer’ guidelines in an effort to...

Read more »

US casino operator Caesars Entertainment has reached terms to overtake British bookmaker William Hill through a £2.9bn deal. The deal, typically await...

Read more »

The renowned sports betting operator 22Bet has decided to completely cease its operations in the United Kingdom as of October 13, 2020. All of its pla...

Read more »

Everton has landed yet another important deal by teaming up with Parimatch, appointing it as the club’s official betting partner in Europe and in the ...

Read more »

Online sports betting operator 22Bet has reached an agreement with French Ligue 1 champions Paris Saint-Germain. The two-year deal, ending 2022, will ...

Read more »

Latest Betting Offers