World Cup to Drive Billions in Betting Volume

Chad Beynon, Macquarie's gaming analyst, discusses the 2026 World Cup's impact on sports betting volumes. He highlights record engagement in the knockout rounds and reviews global betting market maturity. Despite underperformance in DraftKings and Flutter due to prediction market competition, he calls Flutter a strong buy, arguing it trades below the value of its FanDuel acquisition and holds leading global positions. - World Cup knockout rounds driving record betting engagement and viewership - Global sports betting markets are mature in the UK, Europe, and Australia, while the US operates state-by-state - Prediction markets like Kalshi and Polymarket have pressured DraftKings and Flutter shares since mid-2024 - Flutter shares have fallen 50% YTD and DraftKings 25% YTD - In-play betting now accounts for 40% of US wagering, up from lower levels, approaching 70% seen overseas - Chad Beynon singles out Flutter (FLUT) as his top buy, citing extreme undervaluation relative to the FanDuel acquisition - Flutter holds podium positions globally in sports betting and gaming