Who Owns Sky Bet?
Sky Bet is one of the most recognizable brands in sports betting, particularly across the UK. However, the media group Sky is no longer behind its global success. So, who owns Sky Bet in reality?
Who is the Sky Bet Owner?
The concise answer is unequivocal: Sky Bet is owned by the multinational corporation Flutter Entertainment plc.
Flutter Entertainment is an Irish-American holding company that controls a massive portfolio of sports betting and gambling brands worldwide. Sky Bet operates within the Sky Betting & Gaming group, which became a subsidiary of this global empire.
Flutter Entertainment plc is one of the largest and most influential players in the global gaming and sports betting industry.
The company was formed in 2016 through the merger of two powerful entities: Paddy Power and Betfair. Following subsequent major acquisitions, it has become a titan listed on major stock exchanges (including London and New York), generating billions in revenue.
Flutter Entertainment Brand Portfolio
Flutter Entertainment is not solely dependent on the Sky Bet brand. The group owns a wide array of global brands:
- FanDuel
- Paddy Power
- Betfair
- PokerStars
- Sportsbet
- Sisal
The acquisition of Sky Bet was a strategic move that cemented Flutter’s position in the online segment, especially in the crucial British market.
How Sky Bet Transferred to Flutter Entertainment?
The path of Sky Bet, from a British television division to an international powerhouse, was complex and involved multiple major transactions.
The Beginning and Sky plc Ownership
The Sky Bet brand was initially created as part of the British media group Sky plc (now known as Sky Limited).
The CVC Investment (2015)
In 2015, Sky plc sold an 80% stake in Sky Betting & Gaming to the private equity fund CVC Capital Partners, while retaining a 20% minority stake.
The Role of The Stars Group (2018)
In 2018, CVC and Sky plc sold the entire Sky Betting & Gaming business to The Stars Group (TSG)—the operator of PokerStars.
The Merger of Giants (2020) – The Current Owner
The final act unfolded in 2020. In one of the biggest mergers in gambling history, Flutter Entertainment acquired The Stars Group.
In doing so, through the acquisition of TSG, Flutter Entertainment became the current and final owner of Sky Bet.
Why is the Name “Sky” Still Used?
For many users, the name Sky Bet still suggests a direct link to the Sky television giant. This is, in fact, the result of a licensing agreement.
Flutter Entertainment uses the “Sky” name and logo under a long-term licensing agreement with Sky Limited. Using such a powerful and recognizable brand is hugely significant for marketing and allows the new owners to retain customer loyalty.