FLUT vs GENI: Which Is the Better Buy in 2026?
Last updated August 2026
Short answer
FLUT is the larger of the two ($18.12B market cap): the incumbent the market prices for continued execution (11.74x forward earnings, beta 1.09). GENI is the smaller challenger ($2.33B), cheaper on forward earnings (7.83x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
FLUT vs GENI: the tie-breaker metrics
Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | FLUT | GENI | What it tells you |
|---|---|---|---|
| Market cap | $18.12B | $2.33B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 11.74 | 7.83 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Beta | 1.09 | 1.88 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 6% of range | 46% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 2.01 | 3.28 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: GENI is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how FLUT and GENI affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. FLUT and GENI share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined FLUT and GENI exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Flutter Entertainment (FLUT) do?
Flutter Entertainment (FLUT) is one of the world's largest online sports-betting and iGaming companies, best known in the United States for FanDuel, the leading US online sportsbook by market share. The company operates a portfolio of well-known betting and gaming brands across many countries, including Paddy Power and Sky Bet in the UK and Ireland, Sportsbet in Australia, PokerStars globally, and Betfair. Flutter makes money from customers placing sports wagers and playing online casino games, so its results are driven by the number of active players, how much they bet, and how favorably sporting results fall (its win margin). FanDuel and the fast-growing US market are the central story, layered on top of large, more established international operations that provide scale and cash flow. Flutter moved its primary stock listing to the New York Stock Exchange in 2024 to be closer to its largest growth market. The business is exposed to the long-term shift of betting and gaming from retail shops to online and mobile, but it is also heavily shaped by regulation and taxes, which vary by state and country and can change. Headquartered in Dublin with major US operations, Flutter is widely viewed as a scaled, market-leading way to invest in the growth of legal online sports betting and iGaming.
What does Genius Sports (GENI) do?
Genius Sports Limited is a sports data and technology company incorporated in Guernsey, headquartered in London, and listed on the New York Stock Exchange since its 2021 SPAC combination. The model has three linked parts. It signs exclusive rights with leagues and federations to collect their official real-time data, it distributes that data plus trading and streaming products to regulated sportsbooks, and it supplies technology back to the leagues themselves, which is often how the rights get paid for. Its anchor asset is the NFL, where Genius is the exclusive distributor of official data feeds and operates BetVision, the low-latency watch-and-bet product embedded inside sportsbook apps. That partnership was extended and widened and now runs through the end of the 2029 NFL season, and it lets Genius monetise advertising inventory against the BetVision streams. Beyond the NFL, the rights portfolio spans several hundred competitions including English football and FIBA basketball.
FLUT vs GENI: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- FLUT drivers: FanDuel and US online betting leadership; A diversified global brand portfolio.
- GENI drivers: The NFL contract and BetVision; Legend and the pivot into owned media.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Flutter's business is heavily dependent on regulation and taxes, which differ by state and country and can change against it. For GENI, the dominant structural risk is rights renewal: Genius does not own the sports, it rents them, and every renewal is an auction that Sportradar and others can bid up until the contract stops being profitable.
FLUT or GENI: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick FLUT if you believe its drivers more; GENI if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the FLUT and GENI guides.
FLUT vs GENI: the full fundamentals
FLUT. Flutter is valued mainly as a growth business, so it often trades on revenue growth, US market share, and expected future profitability rather than trailing earnings. Because it has invested heavily to build US scale, reported profits and P/E can look high, negative, or not meaningful in the investment phase, even as the underlying US business grows quickly and moves toward higher profitability as states mature. Quarterly results also swing with sporting outcomes (the win margin), so a single quarter can be noisy. Figures are approximate and change with each report and with regulation; verify current numbers before relying on them.
GENI. At roughly $2.33 billion the market cap is about 2.9x trailing revenue and roughly 2.3x the midpoint of guided 2026 revenue, or about 8x guided adjusted EBITDA before adjusting for the debt raised to fund Legend. That is a growth multiple rather than a value one, and it is being paid on an adjusted figure while GAAP results are still loss-making. Figures are approximate and tied to the asOf date, so check live numbers and the latest 6-K before drawing conclusions.
Headline figures (approximate, early 2026): FLUT shows revenue (annual) ~$14-16 billion (growing, driven by the US), us brand FanDuel, leading US online sportsbook by share, international brands Paddy Power, Sky Bet, Sportsbet, Betfair, PokerStars, growth driver US sports betting and iGaming legalization and scaling; GENI shows revenue (ttm) ~$790 million, q2 2026 revenue ~$196 million, up ~65% year over year and ahead of ~$185 million guided, q2 2026 adjusted ebitda ~$53 million against ~$45 million guided, fy2026 guidance (raised) ~$1.005 billion to ~$1.025 billion revenue, ~$285 million to ~$295 million adjusted EBITDA (~28.6% margin at midpoint).
The bottom line: FLUT vs GENI
FLUT and GENI are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined FLUT and GENI exposure against your real portfolio. It is not an investment adviser.
Wondering how FLUT or GENI fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Flutter Entertainment with AI
Connect the broker you already use and ask Walnut's AI how FLUT fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between FLUT and GENI?
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Flutter Entertainment (FLUT) is one of the world's largest online sports-betting and iGaming companies, best known in the United States for FanDuel, the leading US online sportsbook by market share. Genius Sports Limited is a sports data and technology company incorporated in Guernsey, headquartered in London, and listed on the New York Stock Exchange since its 2021 SPAC combination. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is FLUT or GENI the better stock?
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Neither is universally better. FLUT is the larger incumbent; GENI is the smaller challenger and looks cheaper on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, FLUT or GENI?
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On forward P/E (as of August 2026), FLUT trades at 11.74x and GENI at 7.83x, so GENI is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both FLUT and GENI?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of FLUT vs GENI?
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FLUT: Flutter's business is heavily dependent on regulation and taxes, which differ by state and country and can change against it. Higher betting taxes, new levies, advertising restrictions, or slower state-by-state legalization can directly reduce revenue and margins, and several jurisdictions have raised or proposed raising gaming taxes. Results also swing with sporting outcomes: an unfavorable run of results lowers the company's win margin in a given quarter. The US market is intensely competitive and promotional, with DraftKings and others spending heavily to win customers, which can pressure profitability. The industry faces responsible-gambling scrutiny, potential problem-gambling regulation, and reputational risk. Customer acquisition is expensive, and growth can slow as markets mature. As a consumer-discretionary business, betting activity can soften in downturns. The stock is growth-oriented and can be volatile; it is not a defensive or income holding. GENI: The dominant structural risk is rights renewal: Genius does not own the sports, it rents them, and every renewal is an auction that Sportradar and others can bid up until the contract stops being profitable. Customer concentration compounds it, because a handful of large sportsbooks generate a substantial share of Betting revenue and any one of them insourcing trading or data would be difficult to replace. Reported profitability remains negative and the first-quarter 2026 net loss of roughly $55.5 million widened materially year over year, so the equity story currently rests on adjusted EBITDA, a measure that excludes share-based compensation and acquisition costs. The Legend deal added cash outflow, contingent consideration tied to performance targets and integration work, and its affiliate sites depend on search traffic that a Google algorithm change can reduce without warning. Regulatory shifts, higher betting taxes on operators, and the growth of prediction-market exchanges that sit outside the traditional sportsbook customer base are all outside the company's control.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell FLUT or GENI; figures are approximate and dated (as of August 2026). Verify current data before investing.