IG Group returns to betting after 16 years, eyes 2026 launch
Shares dipped 25% in two days this month before the launch plan was unveiled.
The hit
IG Group is heading back into betting, 16 years after closing its Extrabet sportsbook, according to SBC News. The FTSE 100 firm will launch a UK prediction market in late Q4 2026, starting with tax-free trading for professional investors.
Why it matters
A regulated giant entering predictions may prove a tough nut to crack in the UK, according to SBC News, with exchange GGY nearly halving over the decade. Smarkets has already revamped its interface to mirror a US predictions platform, with CEO Jason Trost telling SBC News the two are “not apples and oranges – they’re both apples”. IG is betting that consumers no longer separate investing from gambling, a view untested against entrenched operators such as Flutter, Entain, bet365 & William Hill, who dominate a market regulated since the 1960s.
The record
| Extrabet shutdown | 2011 (IG Group sold the majority of its customer list to Spreadex) |
|---|---|
| Underdog acquisition | $1.1bn in principle, US daily fantasy sports & predictions operator |
| Robinhood predictions revenue | $156m from US-facing product alone, according to SBC News |
| UK General Betting Duty rise | 15% to 25% from April 2027 |
| IG Group shares | down 25% in two days this month, after cut to FY2026 revenue growth outlook |
What happens next
Watch for IG Group’s targeted marketing campaign on Sky Sports next month, ahead of the retail expansion into sports, entertainment & politics.
Sources: Can IG Group stick the landing on UK prediction markets launch?
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