Flutter Regretfully Halts Real-Money Gaming in India

Flutter Entertainment, the parent company of US sports betting giant FanDuel, has been forced to exit India’s real-money gaming market due to the country’s new regulations on online gaming.

India Ended Skill-Based Gaming, to Flutter’s Dismay

India just passed the Promotion and Regulation of Online Gaming Bill, which marked a sudden shift in how online real-money games are treated. While India has always had a strict stance of gambling, games involving an element of skill had largely been able to avoid regulatory scrutiny.

The aforementioned bill passed only two days after it was introduced, sending shockwaves across the industry. The measure prohibits all real-money online gaming, jeopardizing the businesses and sponsorship agreements of multiple companies, including Flutter.

Due to the new law, the British company was forced to pull out its Junglee brand from India. In a statement, Flutter Entertainment noted that this would lead to a $100 million revenue blow on its business. The halt of its real-money gaming operations will likewise deprive it of roughly $25 million in adjusted EBITDA.

Junglee, for context, was expected to contribute roughly $200 million in revenue and $50 million in adjusted EBITDA to Flutter’s business in 2025.

Flutter Is Disappointed But Not Ready to Give Up

Flutter’s chief executive officer, Peter Jackson, expressed “extreme disappointment” with India’s U-turn regarding of online gaming. He noted that the Junglee mark had reached significant levels of penetration and offered products that were enjoyed by many consumers.

In addition to that, Jackson emphasized that Junglee had always prioritized player safety and responsible gaming. Additionally, Junglee supported some 1,100 jobs and was a significant contributor to the local economy.

Jackson was also concerned with the fact that the sudden ban on skill-based games could drive players to the black market.

We believe this change will drive customers to the unregulated market, offering limited consumer protections and providing no contribution to the local economy. We believe in regulatory frameworks that put customers first and are evaluating options to restore skill-based games in the Indian market.

Peter Jackson, CEO, Flutter Entertainment

As mentioned by Jackson, Flutter has not given up on India just yet and is eyeing options to encourage the restoration of the local skill-based gaming market.