Flutter takes over £250m in Cheltenham Festival bets
Betfair, Paddy Power and Sky Bet managed 37 million bets during National Hunt showpiece as top brass champion product improvements
Flutter Entertainment has revealed that its three flagship UK and Ireland (UK&I) brands took over £250m in stakes during the Cheltenham Festival.
Betfair, Paddy Power and Sky Bet also managed around 37 million online bets across the four-day event.
Some of the highlights for punters during the week were Constitution Hill’s dominant showing in the Champion Hurdle and Honeysuckle’s emotional farewell victory in the Mares’ Hurdle.
Flutter also championed its low-staking, recreational customer base in the UK during the festival.
Two punters netted £100,000 and £200,000, respectively, as part of the Sky Bet-sponsored free-to-play competition ITV7.
The pair successfully predicted seven winners from selected races on Tuesday and Wednesday.
Dom Crosthwaite, chief trading officer at Flutter, said: “It was another memorable Cheltenham, and it was pleasing this year to see the festival’s mass market appeal mirror the recreational nature of our customer base.
“We delivered a great customer proposition for our flagship brands, with a series of recent product upgrades and marketing campaigns driving strong staking levels of well over £250m. This was all made possible by our talented colleagues in Flutter UK&I, who worked incredibly well to seamlessly manage over 37 million online bets across the week.”
Elsewhere, OpenBet noted a 22% year-on-year rise in betting activity during the festival, with more than 65 million bets processed during the week. OpenBet, which supplies Flutter and Entain brands, also stated that the average stake was £7.84 for singles in all win and each way markets during the festival.