Flutter reports data breach impacting Betfair and Paddy Power users

Flutter Entertainment has reported a data breach involving customer information from its Paddy Power and Betfair brands.

The company confirmed the incident on July 8 and has since notified regulators, including the UK Gambling Commission and the Information Commissioner’s Office.

According to Flutter, the breach exposed limited personal data, including usernames, email addresses, phone numbers, the first line of customers’ addresses, towns or cities, and technical data such as IP addresses and device IDs. However, the company assured users that no passwords, identification documents, or payment details were accessed.

“We can confirm that our Paddy Power and Betfair businesses have suffered a data incident involving personal information for some of our customers,” a Flutter spokesperson said in a statement to the Racing Post. “Immediately upon becoming aware of this incident, we informed relevant regulators and authorities and initiated a full investigation, supported by external IT security experts.”

Flutter did not disclose the exact number of affected customers but noted that a “significant number” were impacted. The company has begun notifying users directly and cautioned them to be vigilant for potential misuse of personal information.

“We are not aware that any of your personal information involved in this incident has been misused. However, if certain types of personal information were accessed, then there is a risk that criminals may use this information to conduct phishing against you or attempt to impersonate you,” Flutter said in a statement.

The company added that it had removed the unauthorized access and contained the breach. It is now working with cybersecurity experts to assess the source of the breach and prevent future incidents. “Safeguarding and securing our customers’ information is of the utmost importance to us,” the company said.

The breach follows a series of cybersecurity incidents affecting organizations in the UK, including a recent cyberattack on the British Horseracing Authority and separate events that disrupted operations at Marks & Spencer and the Co-op earlier this year.

Investor sentiment

Separately, Jefferies has issued a Buy rating on Flutter Entertainment stock and set a price target of $380 per share, projecting a potential 35% increase. The investment firm cited Flutter’s expansion across various markets, including the United States, where its FanDuel brand maintains a leading position in online sports betting.

While the data breach adds scrutiny to the operator’s data handling practices, Flutter's market performance continues to attract positive attention from financial analysts.