IG Group to Buy Underdog Sports for Up to $1.3 Billion

12:44 AM EDT, 07/31/2026 (MT Newswires) -- IG Group (IGG.L) said Thursday it agreed to buy Underdog Sports Holdings, a US-based daily fantasy sports and prediction markets operator, for up to $1.3 billion. The deal includes an upfront consideration based on an enterprise value of $1.1 billion, to be partly paid via IG Group shares, and an earnout of $200 million. The company secured a bridge facility of up to $950 million with Barclays Bank and Goldman Sachs International to fund the deal. The British derivatives trading company said the acquisition is a "key outcome" of its strategic review announced in March. Completion is expected in late 2026 or early 2027, subject to US regulatory approvals, among others.