FanDuel Casino

History

FanDuel was founded in Edinburgh, Scotland, in 2009 by Nigel Eccles, Lesley Eccles, Tom Griffiths, and Rob Jones as a daily fantasy sports (DFS) business. The founders were early builders of the US DFS category, and FanDuel became one of its two dominant platforms alongside DraftKings. In 2018, Paddy Power Betfair acquired a controlling interest in FanDuel and merged it with its own US-facing operations, including TVG, to create FanDuel Group. Paddy Power Betfair was renamed Flutter Entertainment in 2019, and in December 2020 Flutter acquired the remaining 39% of FanDuel it did not own, making the company a wholly owned subsidiary. Under Flutter, FanDuel expanded aggressively into mobile sports betting after PASPA was overturned, and FanDuel Casino followed as the group's regulated online casino vertical, launching first in New Jersey and later rolling out to other iGaming states.

Products and Platforms

FanDuel Casino is the company's online casino product, offering a broad library of slots, blackjack, roulette, video poker, and live dealer tables through its website and iOS/Android apps. It operates on FanDuel's proprietary platform with a single wallet connected to the rest of the FanDuel ecosystem. The casino is currently live in regulated iGaming markets including New Jersey, Pennsylvania, Michigan, West Virginia, Connecticut, and Ontario. FanDuel Arcade, a free-to-play casino-style games product, serves as an acquisition and engagement funnel alongside the real-money casino. Outside casino, FanDuel operates FanDuel Sportsbook, its US and Ontario mobile sports betting platform; FanDuel Fantasy, the original DFS product; and FanDuel Racing, the horse racing betting platform powered by TVG. The group has also moved into sports media, launching FanDuel TV in 2023 and rebranding the former Bally Sports regional networks as FanDuel Sports Network in October 2024.

Business Model

FanDuel makes money by charging a rake/hold percentage on real-money wagering across its casino, sportsbook, and DFS products. The casino's revenue model is typical of regulated iGaming: the operator earns net gaming revenue from player losses after payouts, and in most states pays licensing fees and taxes to regulators, with revenue-share or white-label arrangements sometimes in place with land-based casino partners. FanDuel's unified wallet and rewards ecosystem cross-sells users between casino, sports betting, and fantasy sports, increasing retention and lifetime value. The company has also leveraged its powerful brand via media ventures and sports marketing partnerships.

Market Position

FanDuel is widely considered the leading online gambling operator in the United States by revenue, and Flutter has repeatedly highlighted FanDuel as the #1 online gambling business in the US market. In online casino specifically, FanDuel Casino consistently ranks among the top two or three operators by monthly gross gaming revenue in states like New Jersey and Pennsylvania, competing directly with DraftKings Casino, BetMGM Casino, and Caesars Palace Online Casino. It is particularly strong in sports betting, where its share of handle and revenue in most regulated states is either the largest or close to it.

Regulation and Licensing

FanDuel Casino is licensed and regulated on a state-by-state basis by gaming authorities including the New Jersey Division of Gaming Enforcement, Pennsylvania Gaming Control Board, Michigan Gaming Control Board, West Virginia Lottery, Connecticut Department of Consumer Protection, and the Alcohol and Gaming Commission of Ontario. This licensing footprint is central to the company's legitimacy and market access, and it underpins FanDuel's ability to operate real-money iGaming in each jurisdiction.

Leadership

In May 2024, FanDuel Group announced that CFO Mike Raffensperger would become CEO, succeeding Amy Howe, who had led the company since 2021. Howe's appointment had followed Matt King, who served as CEO from 2016 through the Flutter acquisition. The founding team has long since exited day-to-day operations: Nigel Eccles served as CEO until 2016 and remains a prominent figure in the tech and gaming startup scene, while Lesley Eccles, Tom Griffiths, and Rob Jones also left the company in subsequent years.

Responsible Gambling

FanDuel operates a responsible gambling programme branded PlayWell, which provides tools such as deposit limits, time-out periods, self-exclusion, and educational resources across its casino, sportsbook, and fantasy products. The programme is integrated into the user journey and is a stated priority for Flutter's US operations.