The table below ranks the largest online gambling companies in the world based on their most recent reported annual revenue (FY2025).
| Company | Revenue (FY2025) | Key Brands | Operational Footprint | Notable Market Data |
|---|
| Flutter Entertainment | $16.3B | FanDuel, Betfair, Paddy Power | 20+ regulated markets | 41% US sportsbook market share (FanDuel) |
| DraftKings | $6B | DraftKings Sportsbook | 25+ US states | One of the largest US sportsbook operators |
| Entain | £5.32B | Ladbrokes, Coral, bwin | 30+ regulated markets | BetMGM joint venture in the US |
| Bet365 | £4B | Bet365 | 150+ countries | Global sportsbook platform |
| BetMGM | $2.8B | BetMGM | 20+ US jurisdictions | Major US iGaming operator |
| Evoke (888 Holdings) | ~£1.75B | 888casino, 888sport, 888poker | Global markets | Long-standing online casino operator |
| Kindred Group | ~£1.6B | Unibet, 32Red | 15+ markets | Focus on regulated European markets |
| Betsson | €1.197B | Betsson, Betsecure, NordicBet | 20+ markets | Strong presence in Europe and LATAM |
| Caesars Digital | $1B+ (est.) | Caesars Sportsbook, Caesars Casino | US-regulated markets | Integrated with Caesars Rewards |
| LeoVegas | €400M+ | LeoVegas | Multiple EU markets | Mobile-first casino approach |
Profiles of the Largest Online Gambling Companies
Flutter Entertainment
Flutter Entertainment is the largest online gambling company in the world by revenue, generating approximately $16.3B in FY2025. The company operates major brands including FanDuel, Betfair, Paddy Power, and Sky Bet across North America, Europe, and Australia. In the United States, its FanDuel platform controls roughly 41% of the online sportsbook market.
DraftKings
DraftKings is one of the largest online betting operators in the United States, reporting approximately $6B in revenue in FY2025. The company originally launched as a daily fantasy sports platform before expanding into sportsbook and online casino products after the legalization of sports betting in the U.S. DraftKings now operates across numerous regulated U.S. jurisdictions.
Entain
Entain is one of the largest international betting and online casino operators, generating approximately £5.32B in annual revenue. The company manages a portfolio of brands including Ladbrokes, Coral, bwin, and Sportingbet and operates in more than 30 regulated markets. Entain is also a co-owner of BetMGM, one of the leading online gambling platforms in the United States.
Bet365
Bet365 is one of the largest privately owned online gambling companies in the world, generating an estimated £4B in annual revenue. The operator is known for its global sportsbook platform, live betting technology, and integrated live streaming services. Bet365 serves customers in 150+ countries, making it one of the most internationally diversified betting operators.
BetMGM
BetMGM is a major online gambling operator in the United States and a joint venture between MGM Resorts International and Entain. The company generated approximately $2.8B in revenue and operates sportsbook and online casino platforms across multiple regulated U.S. jurisdictions. BetMGM leverages the MGM brand and the MGM Rewards loyalty ecosystem to attract digital players.
Evoke (888 Holdings)
Evoke, formerly known as 888 Holdings, operates online casino, poker, and sportsbook platforms under brands such as 888casino, 888sport, and 888poker. The company generates roughly £1.75B in annual revenue and operates in several regulated markets in Europe and North America. Evoke has a long-standing presence in the digital casino sector.
Kindred Group
Kindred Group is an international online gambling operator that manages brands including Unibet, 32Red, and Maria Casino. The company generates approximately £1.6B in annual revenue and focuses primarily on regulated European markets. Kindred is also known for its investments in responsible gambling and player protection technologies.
Betsson
Betsson is a major European online gambling operator generating approximately €1.197B in annual revenue. The company operates brands such as Betsson, Betsafe, and NordicBet across regulated markets in Europe and Latin America. Betsson continues expanding in newly regulated jurisdictions, particularly in LATAM markets.
Caesars Digital
Caesars Digital is the online division of Caesars Entertainment, generating approximately $1B+ in annual digital revenue. The company operates Caesars Sportsbook and Caesars Casino across regulated U.S. markets. Its online platforms are integrated with the Caesars Rewards loyalty program, linking digital and land-based casino ecosystems.
LeoVegas
LeoVegas is a mobile-focused online casino operator generating more than €400M in annual revenue. The company built its business around mobile-first casino platforms and live dealer games. After its acquisition by MGM Resorts International, LeoVegas expanded its technological capabilities and international reach.
Global Online Gambling Industry Overview
The online gambling industry has grown rapidly over the past decade, evolving into a major segment of the global digital entertainment market. According to industry estimates, the global online gambling sector may reach approximately $105.5B in revenue in 2025.
A significant share of this revenue is concentrated among a relatively small group of large operators. Companies such as Flutter Entertainment, DraftKings, Entain, Bet365, and BetMGM operate across dozens of regulated jurisdictions and manage extensive portfolios of sportsbook and online casino brands.
Industry growth is primarily driven by the expansion of regulated markets, the widespread adoption of mobile betting platforms, and the rapid development of live dealer casino products. As more jurisdictions legalize online gambling, large operators continue to expand their digital ecosystems and global market reach.
Market Concentration and Competitive Dynamics
The global online gambling market is highly concentrated, with a relatively small group of large operators generating a substantial share of industry revenue. Companies such as Flutter Entertainment, DraftKings, Entain, Bet365, and BetMGM operate across dozens of regulated jurisdictions and manage extensive portfolios of sportsbook and online casino brands.
Key Competitive Advantages of Major Online Gambling Operators
| Competitive Factor | Impact on Market Position |
|---|
| Proprietary Technology Platforms | Operators control their own betting and casino infrastructure |
| Global Brand Portfolios | Multiple brands targeting different markets |
| Regulated Market Access | Licenses across Europe, North America and LATAM |
| Marketing and Media Partnerships | Sponsorships with major sports leagues |
| Mobile-first Product Development | Large share of players using mobile betting apps |
Large online gambling operators maintain competitive advantages through technology ownership, global brand portfolios, and access to regulated markets. These factors enable them to scale digital betting platforms quickly and expand into newly regulated jurisdictions. As a result, the global industry continues to consolidate around several large operators.
Key Questions About the Online Gambling Industry
Which companies dominate the global online gambling industry?
The largest online gambling operators by scale of operations and revenue remain Flutter Entertainment, DraftKings, Entain, Bet365, and BetMGM. These companies operate in dozens of regulated markets and manage portfolios of global betting and online casino brands.
How large is the global online gambling market in 2025?
Industry estimates indicate that the global online gambling market may reach approximately $105.5B in 2025, confirming the rapid growth of the digital segment of the betting and casino industry.
What factors drive the growth of online gambling operators?
The main drivers of growth remain the expansion of regulated markets, the development of mobile betting platforms, live dealer casinos, and the integration of digital payments.
Why are a few companies dominating the industry?
The largest operators have proprietary technology platforms, global brands, and access to licenses in key jurisdictions. This allows them to scale products faster than smaller operators.
This report is based on financial disclosures from the largest online gambling operators, industry research reports, and statistical data from regulatory authorities. Company revenue figures reflect the most recent available financial results (FY2025), including annual reports, investor updates, and official corporate disclosures.
For privately held operators, revenue estimates are based on aggregated industry research and analytical reports. Global online gambling market estimates rely on consolidated data from international research agencies and regulatory statistics. Currency values are presented in the official reporting currency used by each operator.
Sources
Citation Guidance
For academic, media, or journalistic use, this page may be cited as a reference for the revenue benchmarks and industry data presented above. Example citationFor most readers, : Daybet.biz Research. Largest Online Gambling Companies in the World (2025 Revenue Ranking). Daybet.biz.us.
03.23.2026
