Flutter Entertainment - Tech & Product Strategy: Key Takeaways from FY 2024

We've gone through Flutter Entertainment’s latest earnings, reports, and press releases to surface the key moves shaping their technology and product strategy. From major investments to new platform features, this breakdown highlights how Flutter is betting big on innovation and operational efficiency to stay ahead in sports betting and iGaming through 2025.

Key Takeaways

• Flutter is prioritising proprietary product innovations in 2025, including the revolutionary 'Your Way' customisable betting platform that allows customers to create highly personalised parlays with unprecedented flexibility, and continued enhancements to Same Game Parlay offerings which have driven NFL parlay penetration up by 500 basis points.

  
  

• The company is investing heavily in exclusive iGaming content development through Flutter Studios, creating unique gaming experiences that competitors cannot offer, which has contributed to a 37% growth in iGaming Average Monthly Players and 59% increase in direct casino AMPs.

  
  

• Flutter allocated $820 million to technology research and development in fiscal 2024, supporting a global workforce of approximately 7,700 technologists focused on three key areas: replatforming initiatives, AI and machine learning applications, and data security enhancements.

  
  

• The 'Flutter Edge' represents the company's unique competitive advantage in 2025, providing its brands with access to group-wide technology benefits while maintaining local market focus, enabling proprietary technology platforms that can be operated on a market-specific basis.

  
  

• Flutter's technology-enabled market expansion strategy focuses on effectively integrating recent acquisitions like Snai in Italy and NSX Group in Brazil, with expected operating cost synergies of at least €70 million through technology integration for Snai.

  
  

• The company's proprietary technology platform, developed over more than 30 years, provides a foundation for rapid deployment in new markets, allowing Flutter to quickly implement proven betting and gaming products in newly regulated markets.

  
  

• Responsible gaming technology is a significant focus for 2025, with innovations like the "My Spend" dashboard (used by 3.5 million FanDuel customers) and "Deposit Alerts" enabling customers to create budgets, along with expanded technological capabilities for early intervention when at-risk behavior is identified.

Executive Summary

Flutter Entertainment's 2025 strategy centres on innovative product development and strategic technology investments that strengthen its position as the world's leading online sports betting and iGaming operator.

Key Product Focus Areas:

Flutter's flagship product innovation for 2025 is the revolutionary 'Your Way' customisable betting platform, which allows customers to create highly personalised parlays with unprecedented flexibility. This platform solves the dual challenge of expanding available markets while simplifying the user experience. Early adoption metrics show approximately 1 in 20 customers used the product during the Super Bowl, with 90% placing bets they couldn't have made without these customisation features. Unlike competitors' more limited offerings, 'Your Way' leverages Flutter's proprietary pricing and risk management capabilities to offer virtually infinite betting combinations while maintaining structural margin advantages.

The company continues to refine its industry-leading Same Game Parlay offerings, which have driven NFL parlay penetration up by 500 basis points and contributed to a structural gross revenue margin increase to 14.5%. Flutter's first-mover advantage in this space has created a significant competitive edge, with FanDuel's parlay penetration substantially exceeding industry averages. These enhancements deliver dual benefits that competitors struggle to match: higher customer retention rates and superior structural margins.

In the iGaming sector, Flutter's 2025 strategy centers on exclusive content development through Flutter Studios, creating unique gaming experiences that competitors cannot offer. Recent launches include sports-themed games like NBA Super Slam and exclusive titles such as Samurai 888 Kenji. This focus on proprietary content has contributed to a 37% growth in iGaming Average Monthly Players, with direct casino AMPs increasing by 59%, outpacing competitor growth rates.

Technology Infrastructure and R&D:

Flutter invested $820 million in technology research and development in fiscal 2024, supporting a global workforce of approximately 7,700 technologists who drive product development, create betting markets, improve customer experiences, and develop better systems and processes. The company dedicates nearly all of its R&D investments to its online sports betting and iGaming businesses, seeking to provide broad market applications for product offerings derived from its technology.

Flutter's 2025 technology investments focus on three key areas:

(1) Re-platforming initiatives, with the Sky Betting & Gaming migration representing one of the most important projects aimed at creating a more scalable, efficient infrastructure;

(2) AI and machine learning applications across multiple business areas, including personalised customer experiences, risk management, fraud detection, and pricing optimisation; and

(3) Data security enhancements to protect customer data and ensure regulatory compliance, with dedicated cyber teams in each division and at the Group level performing ongoing assurance activities.

The 'Flutter Edge' represents the company's unique competitive advantage that provides its brands with access to group-wide technology benefits while maintaining local market focus. This approach has proven successful with previous acquisitions like Sisal in Italy, which has seen compound revenue growth of 17% between Q2 2022 and Q2 2024 after implementing Flutter's technology capabilities.

In the responsible gaming space, Flutter has continued to advance its technology portfolio with several key innovations in 2025. The "My Spend" dashboard, which provides customers with detailed insights on their deposit and betting activity, has achieved remarkable adoption with approximately 3.5 million FanDuel customers engaging with the tool during the 2024-2025 NFL season. Building on this success, FanDuel introduced "Deposit Alerts," enabling customers to create budgets and receive notifications when they reach their set amounts. Flutter is also expanding its technological capabilities to enable early intervention when at-risk behavior is identified.

Through these strategic product and technology initiatives, Flutter Entertainment is positioning itself for continued market leadership and sustainable growth throughout 2025.

Proprietary Product Innovation Pipeline

Flutter Entertainment's 2025 market leadership is being driven by strategic product innovations that enhance customisation, deliver exclusive content, and improve user experiences. These innovations are creating measurable competitive advantages and driving exceptional customer engagement across Flutter's brands.

'Your Way' Customisable Betting Platform

The revolutionary 'Your Way' product represents Flutter's most transformative betting innovation for 2025. This platform allows customers to create highly personalized parlays with unprecedented flexibility, solving the dual challenge of expanding available markets while simplifying the user experience. Early adoption metrics show approximately 1 in 20 customers used the product during the Super Bowl, with 90% placing bets they couldn't have made without these customization features.

Unlike competitors' more limited parlay offerings, 'Your Way' leverages Flutter's proprietary pricing and risk management capabilities to offer virtually infinite betting combinations while maintaining structural margin advantages.

Same Game Parlay Enhancements

Flutter continues to refine its industry-leading Same Game Parlay offerings, which have driven NFL parlay penetration up by 500 basis points and contributed to a structural gross revenue margin increase to 14.5%. The company's first-mover advantage in this space has created a significant competitive edge, with FanDuel's parlay penetration substantially exceeding industry averages. These enhancements deliver dual benefits that competitors struggle to match: higher customer retention rates and superior structural margins.

Exclusive iGaming Content Development

Flutter's 2025 iGaming strategy centres on exclusive content development through Flutter Studios, which creates unique gaming experiences that competitors cannot offer. Recent launches include sports-themed games like NBA Super Slam and exclusive titles such as Samurai 888 Kenji.

This focus on proprietary content has contributed to a 37% growth in iGaming Average Monthly Players (AMPs), with direct casino AMPs increasing by 59%, outpacing competitor growth rates.

Customer Engagement Innovations

Flutter's 2025 innovation pipeline includes several customer-facing enhancements that differentiate its offering:

• New jackpot functionality on FanDuel Reward Machine and the FanDuel Rewards Club loyalty program

• The industry-first Bet Back Token allowing customers to exit underperforming bets

• Exclusive multi-round parlay feature for tournament betting

  
  

These innovations have driven exceptional engagement metrics, with the Super Bowl attracting 3 million active FanDuel customers who placed 17.7 million bets totaling $470 million, demonstrating Flutter's ability to convert product innovation into market leadership.

Flutter's proprietary product innovations are cementing its competitive advantage through the Flutter Edge—the company's unique ability to leverage group-wide capabilities across its global brand portfolio.

Technology Infrastructure and R&D Investments

Flutter Entertainment's 2025 technology strategy centres on substantial infrastructure investments and research & development initiatives designed to maintain its leadership position in the global online betting and gaming market. These strategic investments are critical to enhancing customer experience, strengthening security measures, and supporting growth across diverse markets.

R&D Budget and Strategic Focus

In fiscal 2024, Flutter invested $820 million in technology research and development, demonstrating the company's commitment to technological advancement. This investment supports a global workforce of approximately 7,700 technologists who drive product development, create betting markets, improve customer experiences, and develop better systems and processes. The company dedicates nearly all of its R&D investments to its online sports betting and iGaming businesses, seeking to provide broad market applications for product offerings derived from its technology.

Flutter's technology investments are focused on three key areas:

1. Re-platforming Initiatives: A significant portion of Flutter's technology budget is allocated to platform modernisation, with the Sky Betting & Gaming migration representing one of the most important projects. This initiative aims to create a more scalable, efficient infrastructure that can support growing customer demand and enable faster deployment of new features.

   
   

2. AI and Machine Learning Applications: Flutter is implementing advanced AI and machine learning technologies across multiple business areas, including personalized customer experiences, risk management, fraud detection, and pricing optimization. These applications help Flutter deliver more tailored experiences while improving operational efficiency.

   
   

3. Data Security Enhancements: The company has implemented critical security enhancements to protect customer data and ensure regulatory compliance. Flutter maintains dedicated cyber teams in each division and at the Group level who perform ongoing assurance activities against the Flutter cyber risk and control framework.

Competitive Positioning Through Technology

Flutter's technology investments directly strengthen its market position by enabling:

• Rapid market entry: The modernised technology stack allowed Flutter to successfully enter Brazil's newly regulated market in January 2025

• Operational efficiency: Technology improvements contributed to the improvement in Flutter's Adjusted EBITDA margin to 16.8% in fiscal 2024

• Acquisition integration: Enhanced infrastructure facilitates smoother integration of acquisitions like MaxBet in 2024

  
  

The company's proprietary technology platform, refined through decades of investment, provides the foundation for the "Flutter Edge" – the global competitive advantage that empowers local brands with the benefits of global leadership. This technology infrastructure is central to Flutter's strategy of combining global scale with local presence, allowing the company to maintain its position as the world's leading online sports betting and iGaming operator based on revenue.

Technology-Enabled Market Expansion Strategy

Flutter Entertainment's 2025 market expansion strategy is fundamentally powered by its technology infrastructure and capabilities. With an $817 million investment in technology research and development in fiscal 2024, Flutter has positioned itself to leverage proprietary technology as a key driver for growth across diverse global markets. This strategic approach enables the company to integrate recent acquisitions effectively while applying its technological advantages to new and existing markets.

Integration of Recent Acquisitions

Flutter's technology strategy plays a crucial role in the integration and performance enhancement of its recent acquisitions. The pending acquisitions of Snai in Italy and NSX Group (Betnacional) in Brazil represent significant expansion opportunities that rely heavily on technology integration. For Snai, Flutter expects to achieve operating cost synergies of at least €70 million through the integration of technology, content, and third-party procurement. Similarly, the NSX acquisition in Brazil will benefit from access to Flutter's proprietary pricing and risk management capabilities to deliver a differentiated sportsbook product offering.

The 'Flutter Edge' Technology Advantage

The 'Flutter Edge' represents Flutter's unique competitive advantage that provides its brands with access to group-wide technology benefits while maintaining local market focus. This approach has proven successful with previous acquisitions like Sisal in Italy, which has seen compound revenue growth of 17% between Q2 2022 and Q2 2024 after implementing Flutter's technology capabilities.

The Flutter Edge enables:

• Proprietary technology platforms that can be operated on a market-specific basis

• Code bases that can be easily shared across businesses, maximizing agility and flexibility

• Local brands that benefit from global technology capabilities while maintaining their local focus

  
  

Technology Localisation Strategies

Flutter's technology localisation strategy emphasises adapting global capabilities to meet specific market needs. This approach is evident in several initiatives:

• Sisal became the first Italian operator to launch Same Game Parlay in June 2024, leveraging Flutter's global technology expertise for the local market

  
  

• FanDuel Casino completed its migration to Flutter's proprietary technology platform while increasing access to popular exclusive titles

  
  

• In India, Flutter successfully leveraged the Flutter Edge to launch Junglee Poker

  
  

These examples demonstrate how Flutter adapts its global technology assets to address local market requirements and preferences.

Enabling Competitive Entry into Diverse Markets

Flutter's technology infrastructure enables effective market entry and competitive positioning across diverse global markets. The company's proprietary technology platform, developed and refined through dedicated investments over more than 30 years, provides a foundation for rapid deployment in new markets. This technology-first approach allows Flutter to:

• Quickly implement proven betting and gaming products in newly regulated markets

• Enhance local brands with global technology capabilities

• Deliver market-specific features that resonate with local customers

• Achieve operational efficiencies through technology integration

  
  

As Flutter continues its global expansion in 2025, its technology strategy remains central to successful market entry, acquisition integration, and sustainable competitive advantage across its increasingly diverse portfolio.

Responsible Gaming Technology and Sustainability Initiatives

Flutter Entertainment has significantly expanded its technology investments in responsible gaming and sustainability initiatives throughout 2025, reinforcing its commitment to player protection while maintaining strong business growth. These investments represent a core element of the company's ESG strategy, centred around their 'Play Well' framework.

Technological Innovations in Responsible Gaming

In 2025, Flutter has continued to advance its responsible gaming technology portfolio with several key innovations. The "My Spend" dashboard, which provides customers with detailed insights on their deposit and betting activity, has achieved remarkable adoption with approximately 3.5 million FanDuel customers (nearly half of the user base) engaging with the tool during the 2024-2025 NFL season. Building on this success, FanDuel introduced "Deposit Alerts," enabling customers to create daily, weekly, and monthly target budgets and receive notifications when they reach their set amounts.

Flutter is also expanding its technological capabilities to enable early intervention when at-risk behavior is identified, with new initiatives planned throughout 2025. These innovations build upon previous successes like Sportsbet's "Real Time Intervention" tool, which uses machine learning and AI technology to intervene before a customer makes deposits outside their usual range.

Strategic Investment and Measurable Impact

Flutter's financial commitment to responsible gaming technology continues to grow, following the trend established in previous years when investment increased from £60 million in 2022 to £81 million in 2023. This investment supports frontline safer gambling specialists, technology development, and marketing of Play Well tools to customers.

The company has set an ambitious target to have 75% of active online customers using one or more Play Well tools by 2030. Progress toward this goal remains steady, with tool usage increasing to 44.5% in 2024, representing a 4.8 percentage point increase from the previous year.

Media and Education Initiatives

Beyond digital tools, Flutter is leveraging media technology to promote responsible gaming. In March 2025, FanDuel launched "The Comeback with Craig Carton," a television show focused on problem gambling recovery. Additionally, FanDuel has funded the International Center for Responsible Gaming to establish a Center of Excellence focused on advancing research in responsible gambling behaviours.

These comprehensive technology investments demonstrate how Flutter is successfully balancing its ESG commitments with business growth, positioning responsible gaming as a competitive advantage rather than merely a compliance requirement.

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*This analysis is based on a synthesis of Flutter Entertainment’s most recent regulatory filings and corporate communications, including:

• 10-K and Annual Reports (March 2025): For official financial data, technology budget figures, and segment allocations.

• Earnings Call Transcripts (March 2025): For management insights on product pipeline, AI adoption, and operational efficiency metrics.

• Press Releases (January–March 2025): Covering FanDuel product launches, new game exclusives, and responsible gaming initiatives.

• Investor Day Presentations (September 2024): For strategy around the "Flutter Edge" platform and long-term technology infrastructure plans.

• **Interim Reports and Director's Statements

Disclaimer: The information provided in this article is for informational purposes only and should not be interpreted as financial advice. The opinions and analyses expressed herein are the author's own and do not represent the views of any financial institutions. We strongly advise conducting your own research or consulting with a qualified professional before making any financial decisions. The author and the publication assume no responsibility for any losses or damages arising from the use of this information.