IF YOU ARE going to run a gambling operation, it helps to have luck on your side. Months after Peter Jackson was appointed boss of Flutter Entertainment in 2018, America’s Supreme Court overturned a federal law outlawing most sports betting. For a firm running established bookmakers such as Betfair and Paddy Power, that opened the door to a wagering El Dorado. Two years later Flutter’s $12bn splurge on PokerStars, an online-tournament franchise, looked dear—until a pandemic left millions at home in possession of stimulus cheques and lots of spare time. If the house always wins, Mr Jackson comes a close second.
Betting used to be the
→ Continue reading at The Economist
