Scale and Safety Drive Flutter Strategy, Peter Jackson Says

Global Scale and U.S. Leadership Remain Key

Jackson emphasized that Flutter’s strategy focuses on market dominance, with a goal to be the world’s number one gaming operator.

“We’re focused on being #1 in the U.S. and having ‘gold medal‘ positions globally,” Jackson said. He noted that scale and diversification are important factors. He added that the company operates with a flexible, federal structure where local leaders have control but can tap into Flutter’s global resources, known as the Flutter Edge.

Jackson pointed to the size of the international market as a major growth area, estimating the global addressable market will be nearly $300 billion by 2030.

He stated, “It’s important to remember that the international market is even bigger.” The company aims to maintain leading positions in countries like the UK, Australia, and Italy. Jackson noted that international experience directly benefits the U.S. business by sharing technology and best practices.

Betting is a Defensive Consumer Spend

Despite economic concerns, Jackson described sports betting and online gaming as a resilient category of consumer spending.

“Our experience from operating around the world is that sports betting and online gaming is actually very defensive,” Jackson explained.

He suggested that consumers will continue to bet, even if they cut back on other leisure activities. “People might trade down and watch games at home instead of going to bars, but they still want to get their parlay on and have that excitement.” He concluded that the industry is still in its early stages of growth and is well-positioned.

Jackson also noted that Flutter’s recent listing on the New York Stock Exchange has benefited the company, stating, “We’ve definitely seen a step up in liquidity since the U.S. listing, which is great for our investors.”

Predicting the Future of Market Convergence

Jackson discussed the convergence between sports betting and prediction markets, noting Flutter’s experience with its Betfair Exchange platform. He confirmed the company’s partnership with CME Group to explore new product opportunities in the U.S. market.

Jackson viewed the partnership as a natural fit. “We’re very excited about the opportunities that we’ve got in front of us,” he said, citing their shared expertise and the potential to deliver a range of new products. He noted that CME Group sees the deal as a way to get closer to retail consumers, leveraging FanDuel’s strong brand and large customer base.

When asked about competitors like Kalshi introducing a combo feature that resembles a Same Game Parlay, Jackson was skeptical.

“The combo feature looks suspiciously like sports betting to me,” he said. He emphasized that building those products is technically complex, involving pricing for correlations, and is difficult to deploy effectively through a prediction market structure.

Responsible Gaming as an Investment

Jackson stressed that the industry must be proactive about consumer protection to maintain its right to operate, which he refers to as its “societal license.”

He confirmed that Flutter is investing heavily in safety measures, spending more than $100 million on responsible gaming tools. He pointed to the Real-Time Check-In (RTCI) feature in the U.S. as an example, noting it was adapted from a solution first developed in Australia. Jackson believes these efforts help “create a race to the top when it comes to consumer protection.”

When addressing new tax increases, such as those in Illinois, Jackson lamented the impact on casual players. “I think it disproportionately impacts the very low spending, recreational consumer base and I think it’s wrong,” he argued. However, he noted that the company’s scale helps mitigate the effects, stating, “as a scale player, you can weather this stuff better.”