Flutter maintains $50 million market-making goal as FanDuel Predicts builds audience
NEXTPredict reports Flutter outlined the target on its Q3 earnings call, alongside about 40 million dollars in adjusted EBITDA expected from the market-making operation. Management described the consumer-facing FanDuel Predicts business as a longer-term opportunity.
Flutter reiterated a $50 million revenue target for its prediction-market market-making operation on its Q3 earnings call, according to NEXTPredict. The company also expects about $40 million in adjusted EBITDA from that operation.
Two parts of the prediction-market business
The figures put a financial benchmark on Flutter’s market-making activity. They are targets and expectations, rather than reported results, in the material provided by NEXTPredict.
The consumer-facing FanDuel Predicts business reached 140,000 active users in October, according to NEXTPredict. That audience figure is distinct from the revenue and adjusted EBITDA expectations attached to the market-making operation.
Management characterized FanDuel Predicts as a longer-term opportunity. The comments therefore draw a distinction between the financial expectations for market-making and the development of the consumer business.
What it means for prediction markets
- Keep the businesses separate: The $50 million revenue target and about $40 million in expected adjusted EBITDA concern market-making, not the consumer-facing FanDuel Predicts business.
- Track users separately from earnings: October’s 140,000 active users provide an adoption benchmark, but the supplied reporting does not connect that figure to consumer-business revenue or profitability.
- Distinguish expectations from outcomes: Flutter reiterated its target; the reporting does not establish that the market-making operation has achieved it.
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