US Online Betting Stocks Surge by 1.5 Trillion Won in a Day

Flutter Entertainment PLC (NYSE: FLUT) recently surged 5.86% on the New York Stock Exchange, closing at $106.38 and lifting its market capitalization to roughly $18.5 billion (about KRW 24 trillion). In a single day, its market cap grew by approximately $1.15 billion (around KRW 1.5 trillion), while trading volume exceeded 1.64 million shares—both clear signs of a significant influx of demand.

Between March 12 and May 21, the company executed its fifth share-buyback program, repurchasing $250 million (about KRW 330 billion) of stock over ten weeks. In early June, however, a regulatory filing revealed that Capital World Investors trimmed its stake by 13.6%, highlighting a divergence in buying and selling activity among institutional and major shareholders.

Flutter Entertainment is the world’s largest online sports-betting and iGaming group, operating marquee brands such as FanDuel and PokerStars. The U.S. FanDuel segment alone is projected to generate about $5.8 billion (roughly KRW 7.5 trillion) in revenue in 2024. The company has set full-year 2025 revenue guidance at approximately $17.2 billion (around KRW 22 trillion) and shifted its primary listing to the NYSE to capitalize on high U.S.-led growth.