Flutter

In 2016, Paddy Power Betfair was formed by merging the two firms, later renamed Flutter Entertainment in 2019 and created the world's largest online sports betting platform. Paddy Power owned Irish betters who wanted entertainment. Betfair owned the exchange where professionals traded odds. The merge wasn't about combining customers but eliminating competition for the same psychology. Every sports better exists on a spectrum between entertainment and investment. Paddy Power captured entertainers. Betfair captured traders. A single customer could graduate from entertainment to trading. Flutter owned both stages. It could convert someone from casual to serious and keep them inside the ecosystem. Customers moved up without ever leaving platform.