Flutter Entertainment office. Source: Shutterstock

Flutter Enters Top 3 Largest Bookmakers in Brazil

A representative from Flutter stated that the company's Betfair brands, together with those acquired through the NSX deal, rank as its third-largest by revenue, representing over 10% of the Brazilian market. Flutter has secured a 56% ownership stake in Betnacional Group, the parent company of NSX, with the transaction anticipated to be finalised by the second quarter of 2025. Concurrently, Flutter aims to strengthen its position in Brazil by integrating the Betfair brand and NSX Group’s offerings, including Pagbet, MrJack.bet, and Betpix.

Flutter believes that NSX will provide them with a distinctive competitive edge due to its expertise and understanding of the market. "We see next year as an opportunity to gain market share," noted international CEO Dan Taylor during a discussion with investors, although he acknowledged the unpredictability of gambling taxes and the ultimate size of the market.

Regulus Partners reports that NSX holds a 9% share of Brazil’s overall online market. The firm predicts that the country's net gaming revenue will reach $2.8 billion in 2023, with projections indicating an annual growth rate of 18%, potentially increasing the market size to $4.3 billion by 2030.

28 September 2024, 10:08

Finance Gambling Brazil

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