It holds a 61% controlling stake, with the option to increase its stake to 80% after three years and 100% after five. As part of the acquisition, the company paid $158 million and merged its existing operations in the United States into FanDuel to form FanDuel Group. The deal was part of an effort to bolster the company's assets in the United States, following the overturning of a federal prohibition on sports betting. In May 2018, Paddy Power Betfair announced its intent to acquire FanDuel, one of the two leading daily fantasy sports operators in the United States. The new system will replace the current paper based process, and will be implemented across the United Kingdom. In March 2018, the company announced that it would be implementing an electronic self exclusion process through its in-shop app. In August 2017, it was announced that Peter Jackson, CEO of Worldpay UK, would succeed Breon Corcoran as CEO of Paddy Power Betfair. In May 2017, it acquired daily fantasy sports operator Draft. On 18 October 2016, the company paid out $1.1M to those who bet on Hillary Clinton in the presidential election in the United States, citing a certainty of Clinton's victory. On 5 April 2016, it was announced that 650 jobs in the United Kingdom and the Republic of Ireland would be lost at the company. The merger was completed on 2 February 2016. The business is owned 52% by the former Paddy Power shareholders and 48% by the former Betfair shareholders.

Paddy Power and British rival Betfair agreed terms for a merger on 8 September 2015. It owns brands such as Betfair, FanDuel, Paddy Power, PokerStars, Sky Betting & Gaming, and Sportsbet. It is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index.

Flutter Entertainment plc, formerly Paddy Power Betfair plc, is an international sports betting and gambling company.

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