PokerStars launches online betting exchange
The move is designed to enhance PokerStars position in the sports betting market.
Ireland.- Flutter Entertainment’s PokerStars brand has launched a peer-to-peer online betting exchange on its .com and .EU domains. The PokerStars Exchange allows customers to buy and sell bets with other players internationally in a range of markets. It aims to offer players access to the “same global liquidity pool” as Flutter’s Betfair Exchange.
The move is designed to boost the igaming operator’s presence in sports betting. The operator says the product will offer better odds on sports fixtures through bets directly against other users, plus access to bigger markets and a regular stream of customers to bet against.
It believes entering their own odds and lay betting opportunities will be well received by its customers. The exchange can be accessed via the PokerStars Sport tab in various jurisdictions.
Richard Garrod, director of product at PokerStars, said: “We’re always looking at ways to bring PokerStars players something new, and to be able to do that in collaboration with our colleagues over at the world’s largest betting exchange is a huge privilege.
“Our research suggests that our customers would welcome the addition of an exchange product, with 70% of current sports bettors saying they want to get involved.”
He added: “The PokerStars Exchange gives our players access to a brand-new sports betting experience alongside a global community of sports fans, with all the convenience of a single account and wallet.
“After months of hard work and execution, we’re thrilled to offer PokerStars players this addition to the PokerStars portfolio.”
Flutter revenue up 37% year-on-year
In March, Flutter reported its full year results for 2021. Revenue rose 37 per cent to £6.04bn but EBITDA fell by 6 per cent to £723m and the group made an operating loss of £288m.
Flutter said it expects to continue to build its presence internationally and strong trading to continue after its recreational customer base grew by 23 per cent to 7.6 million average monthly players. It also said its acquisition of Italy’s Sisal will play a key role in its international growth and that group revenue in 2022 was up 2 per cent year-on-year for the first seven weeks.
Meanwhile, earlier this year Flutter marked the official inauguration of its revamped Dublin headquarters after a €15.5m refurbishment. Claremont Group Interiors aimed to create a “frictionless workspace” for 1,700 staff working in sports trading, technology, product development and innovation, marketing, HR, and customer operations.
