IG Group to Acquire Underdog in $1.3 Billion Deal

IG Group has recently entered into an agreement to acquire Underdog for a maximum consideration of $1.3 billion. The transaction combines IG’s retail trading operations with Underdog’s sports wagering customer base and futures commission merchant license.

Deal Structure and Market Position

The acquisition centers on Underdog’s regulatory approvals and license portfolio. IG Group will integrate these approvals with its existing retail trading division. The combined entity will leverage Underdog’s established sports betting audience alongside its futures commission merchant authorization to expand service offerings.

Regulatory and Closing Conditions

The agreement reflects ongoing consolidation in the regulated gaming and trading sectors. IG Group previously focused on retail financial markets, while Underdog built its position through sports wagering and futures channels. The transaction remains subject to standard regulatory approvals and closing conditions. The transaction details were first reported by iGaming Express.