The US sports betting industry has exploded in recent years, with platforms like FanDuel leading the charge. As the NFL season kicks off, Peter Jackson, CEO of Flutter (FLUT) (FanDuel’s parent company), joins Yahoo Finance reporter Josh Schafer to discuss the business and its remarkable growth. Jackson expresses enthusiasm for the Flutter’s growth prospects. He projects the North American market to reach a staggering $70 billion, with global markets (excluding the US) reaching $300 billion. The CEO attributes this success to "the quality" of FanDuel, which he calls "the best in the market" in terms of value and user experience. This edge, he claims, "is what is enabling us to win" against competitors. While sports betting isn’t legal in all US states, Jackson emphasizes their focus on maintaining market share in states where it is permitted. He acknowledges the potential for expansion but notes the current value of their existing market: "The 50% of Americans who live in places where they can bet on sports today, that’s a very valuable business." Jackson also discusses global acquisitions in markets like Italy and Brazil, aiming to maintain Flutter’s top position worldwide. He highlights Brazil’s potential, with its "200 million soccer-loving fans," as an untapped market ripe for growth. Regarding election betting, Jackson indicates it’s not a primary focus but mentions, "We have the capability of pricing that," adding they’re taking it "day by day."
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