Easyjet founder bets on World Cup in prediction markets pivot
The billionaire behind Easyjet is taking a punt on sports betting as he launches prediction markets ahead of the World Cup.
Sir Stelios Haji-Ioannou, who founded the budget airline in 1995, launched his Easybet platform in 2024 and is now expanding into prediction markets, Morning Wire can reveal.
Betting is the latest spin-off for the Greek entrepreneur, who has slapped his “easy” branding on a wide range of ventures including pizza, bitcoin and dog walking.
Prediction markets, which have rapidly gained popularity in recent years, allow users to bet on specific outcomes rather than relying on odds set by bookmakers.
American platforms like Polymarket have seen a surge in popularity in recent months for allowing users to place bets on real-world events like military conflicts and economic trends.
But Haji-Ioannou claims this model will allow Easybet’s users to access odds determined by the market, rather than opaque calculations determined by bookmakers.
Easyjet “transformed the airline industry by refusing to charge passengers more than their journey was worth,” and the billionaire’s new venture “applies the same logic to sports wagering,” the firm claims.
Easy pizza, easy pets, easy bitcoin
Easybet claims most of the UK’s 22.5m sports betters spend more than they need to by betting against a bookmaker who “profits regardless of the outcome”.
The platform’s prediction markets will offer users bets on yes or no questions like ‘Will England win the World Cup?’ or ‘Will Harry Kane get the Golden Boot?’.
The firm claims this expansion sets up Easybet as the UK’s first consumer-facing prediction market backed by a regulated gambling operator.
The platform is a joint venture with Matchbook, the trading name of Triplebet – a UK-licensed operator based on the Channel island of Alderney.
Triplebet was fined £740,000 and had its gambling license suspended for six months in 2020 following an investigation by the regulator.
The Gambling Commission found “serious failings” in the firm’s approach to anti-money laundering and the protection of its users. The operator has since overhauled its compliance systems.
Triplebet is reportedly owned by Zeljko Ranogakec, an Australian-born multimillionaire who has been dubbed the world’s most successful gambler and is nicknamed “the Loch Ness monster” because he is rarely sighted.
Industry ‘evolved’ since Matchbook ban
Ronan McDonagh, Matchbook’s chief executive, said: “Exchange technology produces better prices than any bookmaker can offer – because the house doesn’t set the price, the public does.
“The problem has always been complexity. Easybet Predictions solves that: the same engine, a front door that anyone can walk through.”
Budget airline Easyjet now operates across 927 routes in more than 34 countries, and is headquartered at Luton Airport. Haji-Ioannou is worth $1.4bn (£1bn), according to Forbes.
The businessman, who was lampooned in the BBC mockumentary Come Fly with Me, stepped away from Easyjet’s board in 2010 but remains a shareholder and has fiercely defended the “easy” trademark from so-called “brand thieves”.
A spokesperson for Matchbook said: “Matchbook is in a concrete position – one focused on long-term growth, strong foundations and delivering for users.
“The industry has evolved significantly, and so have expectations around experience, trust and responsibility. Matchbook’s focus remains on building a platform that puts customers first while continuing to grow sustainably in a highly competitive market.”