The winning start-up will be handed the opportunity to form a commercial partnership with Flutter and the successful solution will be scaled across the UK and Ireland.
The prize-winner will also be invited to participate in a demo day to showcase the business to an audience of investors, technology experts and Flutter leaders.
The contest was launched after a new study conducted by YouGov revealed that 61% of female bettors would appreciate more opportunities to interact with women’s sports.
“To engage this demographic effectively, product ideas must be tailored to their unique playstyle,” said Flutter Entertainment in a press release.“With women tending to discover games through social circles, they should identify novel ways to attract customers by focusing on social and community gaming.
“The solution presented should be a digital entertainment destination that focuses on helping customers to unwind, have fun, and relax.”
The competition will include a wildcard option for start-ups that provide interesting ideas but don’t quite fit the brief.
The pitches will be heard through Flutter’s Alpha Hub programme, which enables access to workshops via the Alpha Hub Startup Support.
Sky Betting & Gaming CCO Steve Birch said: “We see this as a really exciting gap in the market, and we’re looking forward to finding and partnering with innovative start-ups through the Alpha Hub programme to seize this opportunity.”
US casino start-up Betty has attracted millions of dollars of investment in recent months after pledging to provide a product exclusively for female casino gamers.