In these analyses, the OGQ takes an in-depth look at the following topic: Market capitalization of key companies in the online gambling industry. The data explores the market value of publicly traded gambling firms, highlighting both absolute valuations and how these relate to earnings and revenues. It also compares average figures with top outliers and introduces financial ratios to interpret market trends and investor sentiment.

Flutter, DraftKings, and Evolution lead market cap rankings – Q2 2025

The Q2 2025 snapshot of market capitalization shows Flutter comfortably ahead of the competition. DraftKings and Evolution round out the top three, with a significant gap between them and the rest of the industry.

  • Flutter remains the market giant, with a valuation of GBP 36.3 billion, far ahead of DraftKings at GBP 14.8 billion.

  • The average market capitalization across all companies analyzed is GBP 4.0 billion, with a much lower median of GBP 0.9 billion, showing high disparity.

  • Top mid-tier firms like MGM, OPAP, and Entain range between GBP 5–8 billion, cementing their presence just below the top three.

  • The long tail of smaller firms—like Raketech, Bet-at-Home, and Bragg—have market caps under GBP 0.1 billion.

  • A large number of companies fall below the average, highlighting the dominance of a few major players in the online gambling industry.

Rush Street and Zeal lead in P/E ratios and revenue multiples – Q2 2025

This chart compares two key financial ratios: price-to-earnings (P/E) and market cap-to-revenue (Q1 2025). These ratios shed light on company valuations relative to profit and revenue streams.

  • Rush Street tops the P/E ranking, hitting a P/E of 176, suggesting high growth expectations or low current earnings.

  • The average P/E ratio is 48, while the median stands at 22, reflecting a wide range of investor sentiment.

  • Evolution has the highest market cap to revenue ratio, clocking in at 27, well above the average of 11.

  • Zeal/Tipp24 and OPAP follow in the market cap/revenue ranking, with ratios of 20 and 18, respectively.

More info about this analysis: Market capitalization of key companies in the online gambling industry. Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.

P/E ratios 2025 Q2