In these analyses, the OGQ takes an in-depth look at the following topic: Market capitalization of key companies in the online gambling industry – Q3 2025. The data research explores how publicly listed betting and gaming companies perform in terms of market value.

Market capitalization of key companies in the online gambling industry – Q3/2025

This chart shows the market capitalization ranking of leading online gambling companies as of October 2025. Flutter remains firmly at the top, ahead of DraftKings and Evolution.

• Flutter leads the industry ranking with a market capitalization of GBP 33.7 billion, reaffirming its dominant global presence in betting and gaming.

• DraftKings follows in second place, highlighting the strength of the U.S. market.

• Evolution, ranking third, maintains robust growth through its strong B2B casino product line and live gaming dominance.

• The average market capitalization across all analyzed firms is GBP 3.5 billion, showing a clear divide between industry giants and smaller players.

P/E ratios and market cap / revenue ratio – Q3/2025

This chart compares companies’ price-to-earnings ratios and their market capitalization relative to Q2 2025 revenues. The analysis highlights major valuation contrasts between established and growing operators.

• Flutter has the highest P/E ratio at 128, reflecting strong investor expectations and sustained growth potential.

• The average P/E ratio across companies stands at 43, with a median of 25, showing large valuation gaps within the industry.

• Evolution leads the market cap-to-revenue ratio with a value of 27, followed by Zeal/Tipp24 (21) and OPAP (19).

• The average market cap/revenue ratio of 11 demonstrates balanced valuation levels relative to quarterly revenues.

More info about this analysis: Market capitalization of key companies in the online gambling industry – Q3 2025. Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.