Sports betting product launched by PokerStars
Flutter Entertainment-owned iGaming giant, PokerStars has announced the launch of its new sports betting product - a betting exchange that will, under the ambitions of the strategy, help it to significantly differentiate itself in the industry.
This new product, launched on an exchange, in a similar fashion to Betfair (PaddyPower Betfair) - also owned by Flutter Entertainment, is hoped will convert a number of the brand’s avid poker players into sports bettors.
PokerStars is prevalent across a number of countries and continents and arguably, is one of the most standalone, famous poker brands in the world.
More market penetration for the poker brand
It is anticipated that this new betting exchange will be greeted with a high amount of enthusiasm and based on the large volume of loyal customers that Betfair gets, there is the potential for PokerStars to gain more affinity with sports fans.
What this decision will also do (it is hoped), is further boost Flutter’s presence in the global sports betting market, with the conglomerate already having PaddyPower, Betfair, SkyBet, US brand FanDuel and recently acquired Italian brand Sisal under its ever-expanding umbrella.
As a result of adding a sports betting exchange, customers will be able to access this on the various, current domains via the ‘sports’ tab which will direct them to the relevant page in each jurisdiction.
Based on research undertaken by the marketing team at PokerStars, it is believed that the majority of their customers would be welcoming of an exchange, with 70 per cent of their sports betting following keen to explore what this new product has.
Flutter experiencing exponential growth rates
For Flutter, this comes at a time when it is experiencing considerable growth around the world in a number of key markets that it operates, with highly positive figures reported for 2021.
With revenue increasing to £6.04 billion by 37 per cent, this represents a major stepping stone, and the vast majority of this could be largely attributed to by FanDuel’s ever-growing presence and market-leading position in the US.
Already undisputed leaders in a number of states and with the brand primed to pounce in new states as they become legislated, Flutter Entertainment - thanks to its position in the US is swiftly becoming one of the biggest iGaming operator companies in the world.
Adding a betting exchange to its flagship poker brand is just one more way that it feels it can add even more revenue to its balance sheet and it certainly makes for interesting industry insight as it seeks to further consolidate its position.
Written for onlinecasinosrealmoney.co.nz by Adiela de Bruyn on 12-05-2022