Flutter US Gaming Revenue Meets Third-Quarter Guidance

The company adjusted its promotional spending in September to align performance with earlier forecasts.

Updated on Oct. 26, 2026 in Gambling

Isometric editorial illustration of betting chips and a die on a stone surface, representing strategic marketing in gaming. — Flutter Entertainment reported an 8% growth in US net gaming revenue for the third quarter, supported by a 16% reduction in promotional marketing. AI Illustration. Upload story photo >

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Is reduced promotional spending in the online gambling industry a sign of healthy long-term growth?

Flutter Entertainment maintains its trajectory for the third quarter of 2026 as US net gaming revenue grows 8%. This performance comes alongside a strategic 16% year-on-year reduction in promotional spending during September.

Why it matters

The deliberate decrease in marketing intensity, specifically by 30% in Michigan and Pennsylvania, suggests a shift in how major betting operators balance customer acquisition costs against revenue growth in a competitive landscape.

Flutter reported 8% growth in US online casino revenue for September, trailing the 13% average growth observed across the broader US online casino market. In the same month, promotional spending decreased by approximately 30% in Michigan and Pennsylvania.

The players

Flutter Entertainment

This global sports betting and gaming company operates major brands including FanDuel and PokerStars.

DraftKings

This digital sports entertainment and gaming company competes directly with other major platforms in the US online casino market.

BetMGM

This sports betting and iGaming operator is a joint venture between MGM Resorts International and Entain.

Kalshi

This prediction market platform allows users to trade contracts on the outcomes of future events including sports scores.

The details

The company's decision to pull back on promotional efforts follows high-volume periods in the sports betting sector, including $18.3 billion in sports volume recorded on Kalshi during the sixth week of the NFL season. This strategy aligns with wider industry trends as firms attempt to optimize profitability in key state markets like Michigan and Pennsylvania.

Q2 2026: US online casino revenue grew 16%.
August 2026: US online casino revenue grew 12%.
September 2026: Flutter reduced promotional spending by 16% year on year.

Culture Shift

This move marks a departure from the aggressive customer acquisition strategies that characterized the early expansion of regulated US online gambling. By prioritizing net gaming revenue over promotional volume, the sector is signaling a maturation of its business model toward profitability.

Users in states like Michigan and Pennsylvania may notice a change in the frequency or size of promotional offers provided by the platform. These adjustments reflect a broader industry trend of tightening marketing budgets which can directly alter the bonus structures available to casual players.

The takeaway

Investors and frequent players alike should watch how companies balance promotional spend with competitive market share. Reducing marketing costs can improve short-term financial results but may also affect the level of rewards or incentives available to active users.