FanDuel

What FanDuel does

FanDuel is a multi-product online gaming platform operating as a wholly-owned subsidiary of Flutter Entertainment plc (NYSE: FLUT). Founded in 2009 as a daily fantasy sports operator, the company pivoted into real-money sports betting following the 2018 U.S. Supreme Court's Murphy v. NCAA ruling and now operates the #1 online sportsbook in North America with 39% gross gaming revenue market share in U.S. sportsbook and 27% in iGaming (Q1 2026). The platform spans FanDuel Sportsbook (available in 25 U.S. states), FanDuel Casino (820+ games across NJ, PA, MI, WV, CT), FanDuel Daily Fantasy Sports, FanDuel Racing (200+ tracks worldwide via TVG), FanDuel Predicts (nationwide prediction markets across all 50 states), FanDuel TV (original programming including Up & Adams and Coaches Corner), FanDuel Faceoff (peer-to-peer skill games), and PokerStars on FanDuel. The technology stack is mobile-first across iOS and Android, with native same-game parlay functionality, an AI personalization engine, and integrations with CFTC-regulated counterparties (CME Group, Crypto.com/OG Prediction Markets) for event contract trading.

The business model is primarily transaction-fee based: FanDuel earns the spread (vig/juice) on sportsbook handle, the house edge on casino products, an entry-fee commission (typically 10-20%) on fantasy contests, takeout on horse racing wagers, and spreads on prediction market event contracts. Customer acquisition is driven by mobile signup bonuses ($50 daily for $5 wagered over 7 days, $350 in bonus bets, casino welcome packages with 500 bonus spins), celebrity athlete endorsements (Jordan Spieth, Bryce Harper, Landon Donovan), sports league sponsorships (Formula 1, CFL, FIFA World Cup), and a heavy digital/CTV advertising mix. Distribution is direct-to-consumer via mobile apps with auxiliary retail sportsbook locations and casino partnership channels (e.g., Oaklawn in Arkansas). Q1 2026 U.S. revenue was $1.76 billion (up 6% YoY), with Flutter group-level FY2026 guidance of $18.305 billion in revenue and $2.9 billion in adjusted EBITDA. The company serves individual consumers in U.S. states and Canadian provinces (Ontario, and pending Alberta), with planned $250-300M Predicts investment through 2026 and recent June 2026 workforce reductions of several hundred employees amid competitive pressure from prediction market entrants.

Name

FanDuel

Legal name

Betfair Interactive US LLC

Website

https://fanduel.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

FanDuel operates the #1 online sportsbook in North America (39% U.S. GGR share) and a multi-product gaming platform spanning sports betting, casino, daily fantasy sports, horse racing, and prediction markets, serving individual consumers across 25 U.S. states and Canada as a subsidiary of Flutter Entertainment plc.

Ownership category

akta.pro rank

Product category

Online Sports Betting and Gaming

NAICS

Gambling Industries (7132), Other Gambling Industries (713290), Casinos (except Casino Hotels) (71321)

SIC

Services-Racing, Including Track Operation (7948), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Sportsbooks (Online & Mobile Operators) (MPAEACAA)

akta.pro secondary industries

Fantasy Sports Monetization & Commerce (Subscriptions, Premium Tools, Marketplaces) (MPAEAHAI), Peer-to-Peer Financial/Spread Betting Exchanges (MPAEAIAC)

Keywords

• Online sports betting
• Daily fantasy sports
• Online casino gaming
• Horse racing wagering
• Prediction markets

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Marketing or Sales, Technology or R&D, Personnel, Operations, Infrastructure

Revenue model

1. Sports Betting Handle: FanDuel takes bets on sporting events, sets odds with built-in margin (vig/juice), and generates revenue from the spread between total wagers and payouts. Revenue is primarily driven by betting handle volume.
2. Online Casino Gaming: Casino games including slots, blackjack, roulette, live dealer games, and table games. Revenue generated from house edge on casino products.
3. Daily Fantasy Sports Contests: Entry-fee contests where FanDuel takes a commission (rake) of typically 10-20% on contest entry fees.
4. Horse Racing Wagering: Betting on live horse races through TVG and FanDuel Racing platforms with revenue from takeout on winning wagers.
5. Prediction Market Trading (FanDuel Predicts): Users trade event contracts predicting outcomes of real-world events. FanDuel Predicts generates revenue from spreads on event contract pricing.
6. Advertising and Sponsorships: Revenue from sports league and team partnerships, advertising slots during FanDuel TV programming, and promotional integrations.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

FanDuel operates a mobile-first online gaming platform that lets users in regulated U.S. states wager on sports (NFL, NBA, MLB, NHL, soccer, golf, UFC, NASCAR), play online casino games (slots, blackjack, roulette, live dealer), enter daily fantasy sports contests for cash prizes, and bet on horse racing. The company generates revenue from the spread on sports betting handle (vig/juice), house edge on casino games, contest entry commissions on fantasy contests, takeout on horse racing wagers, and spreads on prediction market event contracts via FanDuel Predicts.

Product overview

FanDuel operates as a multi-product gaming platform organized around a platform-plus-modules architecture. The core offering consists of FanDuel Sportsbook (mobile sports betting), FanDuel Casino (online gaming with slots and table games), FanDuel Daily Fantasy Sports (contest-based fantasy gaming), and FanDuel Racing (horse racing wagering). These are supplemented by FanDuel Predicts (prediction markets), FanDuel TV (streaming content and original programming), FanDuel Faceoff (peer-to-peer skill games), and PokerStars on FanDuel (poker). The platform also includes FanDuel Research as an informational module providing betting analysis. Available across 25 US states for sports betting, with Casino in 5 states, and Predicts available nationwide.

Differentiator

Problem solved

Functional benefit

Brands

• FanDuel Sportsbook: Online mobile sports betting platform covering NFL, NBA, MLB, NHL, soccer, and other sports across 25 U.S. states.
• FanDuel Casino
• FanDuel Predicts
• FanDuel Racing
• FanDuel TV
• FanDuel Faceoff
• TVG
• PokerStars on FanDuel

Products and services

• FanDuel Sportsbook Online mobile sports betting platform allowing users to wager on professional and college sports including NFL, NBA, MLB, NHL, soccer, UFC, NASCAR, and golf. Offers moneyline, point spread, over/under, parlay, round robin, live betting, and prop bet options. Available across 25 U.S. states.
• FanDuel Casino Online casino platform offering slots, blackjack, roulette, table games, and live dealer games. Available across five U.S. states (NJ, PA, MI, WV, CT) with approximately 820 games. Known for fastest PayPal withdrawal times in U.S. regulated market averaging 1 hour 38 minutes.
• FanDuel Daily Fantasy Sports Daily fantasy sports platform offering one-day fantasy contests for NFL, NBA, MLB, NHL, soccer, golf, NASCAR, WNBA, and tennis. Users draft teams within salary caps and compete for cash prizes with beginner-friendly contests and season-long leagues.
• FanDuel Racing Horse racing betting platform offering wagering on live races from over 200 tracks worldwide. Features live streaming, expert wagering insights, and in-depth analysis from industry personalities.
• FanDuel Predicts Prediction market platform allowing users to trade on real-world events from sports to finance, crypto, and culture. Users pick Yes or No on outcomes and get paid based on prediction accuracy. Available nationwide in all 50 U.S. states including states where Sportsbook is not live.
• FanDuel TV Streaming platform providing live horse racing coverage, sports betting content, and original programming including Up & Adams (NFL news with Kay Adams) and Run it Back (basketball coverage). Available via streaming platforms, cable, FanDuel TV Extra, and regional sports networks.
• FanDuel Faceoff Peer-to-peer gaming app allowing players to compete against each other in skill-based games for real cash prizes. Features games including Jordan Spieth's Fairway Frenzy, Wheel of Fortune, and other titles.
• PokerStars on FanDuel Online poker platform integrated into the FanDuel ecosystem following the PokerStars Ontario merger. Provides online poker gaming within the FanDuel platform.
• Love Island: Unlocked Branded Slot Game Branded slot game launched on FanDuel Casino based on the Love Island franchise, featuring a Select-A-Character mode and series-inspired modifiers. Licensed from ITV Studios and developed by White Hat Gaming exclusively for FanDuel Casino.

Quantifiable outcome

• Fastest PayPal withdrawal in US-regulated market: avg 1hr 38min
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Canadian Football League (CFL)coreStrategic or Co-development Partner · 8 July 2026Renewed multi-year partnership with the Canadian Football League, expanding agreement to include Alberta and adding Casino as a new category. FanDuel serves as an official partner for the 2026 season with over 50 brand partners including renewal alongside Anytime Fitness, Bud Light, Forty Creek, Mobil, and OK Tire.
• Light & WondercoreTechnology or Integration · 8 July 2026Exclusive partnership with Light & Wonder to bring the Huff N' Puff slot franchise to Alberta players as part of FanDuel Canada's market entry.
• CME GroupcoreTechnology or Integration · 9 June 2026FanDuel Predicts expanded its event contract offering through partnership with CME Group, giving customers access to CFTC-regulated sports and entertainment contracts alongside existing offerings.
• ITV StudioscoreOEM/ Whitelabel/ Licensing Partner · 1 June 2026Licensing partnership with ITV Studios for the Love Island franchise. FanDuel Casino launched Love Island: Unlocked, a branded slot game developed under license from ITV Studios, with Ariana Madix (host of Love Island USA) serving as lead ambassador.
• White Hat GamingcoreTechnology or Integration · 1 June 2026White Hat Gaming developed the Love Island: Unlocked slot game exclusively for FanDuel Casino as the second installment in their multi-game partnership with the Love Island franchise.
• Formula 1coreStrategic or Co-development Partner · 20 May 2026FanDuel named Formula 1's first Official Betting Operator in the United States and Canada through a new multi-year agreement. FanDuel integrates sportsbook odds into Formula 1's age-gated Betting Guide and develops responsible gaming content for the sport's digital platforms.
• PokerStarsminorStrategic or Co-development Partner · 7 May 2026PokerStars Ontario is merging exclusively into the FanDuel ecosystem under Flutter Entertainment, rebranded as 'PokerStars on FanDuel,' reducing Ontario's regulated online gaming market to 45 licensed operators.
• Oaklawn Casino (Arkansas)coreChannel Partner/ Reseller/ Distributor · 1 April 2025Oaklawn Casino partnered with FanDuel to offer online sports betting, seeing online bets jump from $14 million in April 2024 to $52 million in April 2025.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• ESPN BET (PENN Entertainment): ESPN BET, operated by PENN Entertainment in partnership with ESPN, is a US online sportsbook launched in 2023. It competes directly with FanDuel by leveraging ESPN's massive sports media brand for top-of-funnel customer acquisition.
• Caesars Sportsbook: Caesars Sportsbook (Caesars Digital, owned by Caesars Entertainment) is a top-five US online sportsbook and iGaming operator. It competes with FanDuel across legal sports betting states, combining online products with Caesars Rewards loyalty integration.
• DraftKings: DraftKings is FanDuel's closest direct competitor in US online sports betting, daily fantasy sports, and iGaming. Both lead the US online sportsbook market with similar product offerings (sportsbook, casino, DFS, prediction-market ambitions) and compete head-to-head for state licenses, promotional spend, and consumer mindshare.
• BetMGM: BetMGM is a joint venture between MGM Resorts and Entain, offering online sports betting and iGaming across US states. It directly competes with FanDuel in sportsbook and online casino, leveraging MGM's land-based loyalty database and Entain's technology platform.

Emerging players

• Hard Rock Bet: Hard Rock Bet, operated by the Seminole Tribe and Hard Rock Digital, is an emerging US online sportsbook and iGaming brand. It competes with FanDuel across multiple state markets and is rapidly expanding its sportsbook and casino footprint.
• Underdog Fantasy: Underdog Fantasy is a fast-growing US DFS and pick'em operator competing directly with FanDuel's daily fantasy product. It has raised significant capital and grown rapidly in pick'em-style contests overlapping FanDuel's DFS offering.
• Kalshi: Kalshi is a CFTC-regulated prediction market exchange for event contracts on sports, economics, and culture. It is FanDuel Predicts' most direct emerging competitor and is widely cited as a structural threat to traditional sportsbook operators including FanDuel.
• Polymarket: Polymarket is a crypto-based prediction market platform that competes with FanDuel Predicts in event-contract trading. Its scale, brand, and rapid user growth in sports and cultural event markets position it as a key emerging threat to FanDuel's prediction-market ambitions.
• PrizePicks: PrizePicks is a leading US daily fantasy sports operator specializing in player-prop pick'em contests. It competes with FanDuel's DFS product for casual sports fans, particularly in states where traditional sports betting is not yet legal.

Broad incumbents

• bet365: bet365 is one of the largest global online sportsbook operators and an IBIA member alongside FanDuel. It has expanded into the US and competes with FanDuel in multiple states, while also operating at much greater scale internationally across sports betting and iGaming.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/fanduel
• YouTubeyoutube.com/channel/UCbPP6F-3ASqkBkT9Obro-TQ
• Facebookfacebook.com/fanduel
• Instagraminstagram.com/FanDuel
• LinkedInlinkedin.com/company/fanduel

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds8 records

Investors30 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FanDuel