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Global sports betting giant Flutter Entertainment has reported significant betting activity during the Paris 2024 Olympics, driven largely by growth in new markets and strategic offerings. While the company did not reveal the exact total amount bet, the rise in betting volume was particularly notable in the United States.
Flutter attributed much of the increase in betting to the expansion of legalized sports wagering across the U.S. In Paris 2024, 23 states offered legal betting, compared to just 10 during the Tokyo Games. Betting in these 10 states more than doubled, showcasing the growing appeal of sports wagering in established markets. Additionally, more favorable viewing times for audiences in both Europe and the U.S. boosted betting activity.
FanDuel sports trader Eric Gerson noted the unique appeal of the Olympics: “Many people who aren’t typical sports fans are Olympics fans. It’s a unique chance to branch out to new audiences we wouldn’t normally reach.”
Flutter introduced several new betting options tailored to the Olympics, such as parlays for swimming and athletics and same-game parlays for basketball. These specialized offers led to a surge in parlay betting, with parlays making up 55% of all bets placed on Paris 2024, compared to just 20% during Tokyo 2021. Basketball emerged as the most popular sport for wagers, accounting for 63% of total bets, significantly higher than the 40% seen at the previous Olympics.
A major highlight of Paris 2024 was the increased focus on women’s sports, which contributed to a rise in betting on female events. With an equal number of male and female athletes for the first time in Olympic history, 24% of all bets through FanDuel were placed on women’s events. Female gymnastics, led by U.S. star Simone Biles, accounted for 79% of gymnastics wagers, while 60% of football bets focused on women’s matches.
Flutter’s head of in-house global sports trading, Simon O’Shea, remarked, “The Olympics are more than just a series of competitions, they are a global celebration that brings people together.”