Bookmaker News – Major Merger Announced

Paddy Power and Betfair owner to merge with Sky Bet parent company

Bookmaker News

The owner of both Paddy Power and Betfair – the Flutter Group – has announced that is is to merge with The Stars Group.
The latter, a Canadian-based online betting and gaming group, bought Sky Bet in 2018.
The idea of a merger between the two betting superpowers was first proposed last October and it is believed it was given the all-clear by the Competition and Markets Authority in March.
Sports Betting at Betfair
Shareholders in both companies were invited to vote on the proposal earlier this year and gave their assent. The papers have now been signed and there is now a new betting landscape in the UK with the new company worth an estimated £10billion. Had the two groups been combined last year, they would have had total profits of £3.8billion which makes you wonder – how can smaller enterprises compete?
The new groups is to be known as Flutter and Stars and executives are hoping the deal will save £140m in operating costs. Initially, they will target the US as the key area for expansion as tighter regulations in the UK are now in place with a greater tax burden also being placed on online betting operators in a bid to fund the growing issue of problem gambling.
However, existing customers of Paddy Power and Betfair should notice little difference in how their accounts are managed and both still have some tempting offers for new customers wanting to join the brand.

Terms and Conditions
Who can take part?
New customers only. Available to residents of UK or Republic of Ireland.
How and when can I qualify?
Open a new account using promo code YSKAEE
Deposit a minimum of £20 using a Debit/Credit Card or Apple Pay
Place a Sportsbook bet. For the purposes of this promotion, your first ever bet will be counted as the qualifying bet.
Qualifying requirements must be completed within 90 days of account opening
What can I win?
If your qualifying bet is settled as a loser we will refund you stake in CASH
Maximum refund is £20. Refund will be processed within 1 hour after the qualifying bet has been settled as a loser.
What else do I need to know?
Sign up offers are limited to one per person, family, household address, email address, and shared computer. We reserve the right to withdraw the availability of free bet offers to any customers.
Deposits made with e-wallets including Skrill, Paysafe, PayPal and Neteller will not count towards this promotion. Only Debit/Credit Cards and Apple Pay are eligible.
Customers registering through this offer are not eligible for any other sign up promotion.