FanDuel

Company History and Evolution

FanDuel was founded in Edinburgh, Scotland on July 21, 2009 by Nigel Eccles, Lesley Eccles, Tom Griffiths, Rob Jones, and Chris Stafford. The company began as a daily fantasy sports provider, pivoting from a previous venture called Hubdub, with initial funding of $1.2 million. Its first major event was the FanDuel Fantasy Football Championship in 2010, which featured a $40,000 prize pool. The company grew rapidly through successive funding rounds, raising $11 million in January 2013, $70 million in September 2014, and $275 million in July 2015, which valued the company at over one billion dollars. In May 2015, FanDuel hired 38 of 42 employees laid off by Zynga 365 sports. FanDuel acquired the sports analytics firm numberFire in July 2015 and the app developer Kotikan shortly after. In September 2015, it acquired the esports daily fantasy service AlphaDraft.

For several years, FanDuel was the principal competitor to DraftKings in the daily fantasy sports market. In November 2016, the two companies announced an intent to merge, but the proposed deal was blocked by the U.S. Federal Trade Commission in June 2017 over monopoly concerns. In September 2017, FanDuel paid $1.3 million to settle with the Massachusetts Attorney General's office over allegations of unfair and deceptive practices prior to 2016. Leadership changes followed, with founder Nigel Eccles departing in November 2017 and being replaced as CEO by former CFO Matt King. A major shift occurred in May 2018 when Irish bookmaker Paddy Power Betfair, now Flutter Entertainment, announced its intent to acquire FanDuel. This move was strategically timed after a U.S. Supreme Court ruling allowed states to legalize sports betting. The merger was completed on July 11, 2018, forming FanDuel Group, with Flutter holding a 61 percent controlling stake and designating FanDuel as its main U.S. brand.

Business Operations and Market Presence

FanDuel operates a diverse portfolio of gambling products, each subject to regional regulations. Its core offerings include an online sportsbook, daily fantasy sports contests, an online casino, horse race betting, and, as of November 2025, prediction markets. The company's geographic footprint is extensive, with its online sportsbook available in 23 U.S. states as of January 2026, plus Ontario and Puerto Rico. It also operates retail sportsbook locations in 15 U.S. states. The online casino product, FanDuel Casino, is available in Connecticut, Michigan, New Jersey, Pennsylvania, West Virginia, Ontario, and Puerto Rico. Daily fantasy sports contests remain widely accessible in over 40 U.S. states.

The company's expansion has been marked by strategic state launches following legalization. It opened its first branded retail sportsbook at the Meadowlands Racetrack in New Jersey shortly after the 2018 merger. Key subsequent launches included Ontario in April 2022, North Carolina in March 2024, and Arkansas in March 2026. FanDuel has also expanded its media footprint, relaunching the TVG horse racing network as FanDuel TV in August 2022 and, in October 2024, reaching an agreement to rebrand the Bally Sports regional networks as the FanDuel Sports Network.

Core Product Lines

• Sportsbook: Online and retail betting on professional and college sports.
• Daily Fantasy Sports (DFS): Short-duration fantasy contests for cash prizes.
• FanDuel Casino: Online slots, table games, and live dealer games.
• Horse Racing: Wagering platform and broadcasting via FanDuel TV.
• Prediction Markets: A product launched in 2025 allowing trading on sports, culture, and financial outcomes.

Entry and Operations in Canada

FanDuel officially launched its sportsbook and online casino in the province of Ontario on April 4, 2022, marking its entry into the Canadian regulated market. The launch followed the opening of Ontario's competitive iGaming market to private operators. The Canadian platform offers sports betting on all major leagues, including extensive coverage of the National Hockey League, and a full suite of online casino games. Accounts for FanDuel Canada are separate from U.S. accounts, and all transactions are conducted in Canadian dollars. The service is available to adults aged 19 and over in Ontario. FanDuel also has a presence in Alberta for adults 18 and over.

The company has engaged in promotional activities and partnerships tailored for the Canadian market. It has promoted a 'No Sweat First Bet' offer for new Ontario customers and has collaborated with Canadian media brand TSN to create integrated betting and viewing experiences. FanDuel maintains a dedicated Canadian social media presence and customer support. The Ontario launch established FanDuel as one of the first major international operators in the province's new regulatory framework, aiming to capture a share of the market with its established brand and technology platform.

Major Sports Leagues and Partnerships

FanDuel has secured high-profile partnerships with major North American sports leagues to bolster its brand and integrate its services. A significant multi-year agreement was announced in November 2018, making FanDuel a sports betting partner and the official daily fantasy sports partner of the National Hockey League. On the same day, it secured a team sponsorship with the NHL's New Jersey Devils, which included in-arena branding for its sportsbook. In 2020, the company became the official sports betting partner of the PGA Tour, a deal later renewed through 2027, which includes promoting FanDuel odds on tour digital properties and during broadcasts.

In November 2021, the NBA announced expanded partnerships with both FanDuel and DraftKings, making them co-official sports betting partners. As part of this deal, FanDuel became the exclusive presenting partner of the weekly NBABet Show on NBA TV, and its odds are displayed on the Games page of NBA.com. In 2023, FanDuel partnered with the PGA Tour on a market access agreement to offer its sportsbook in North Carolina. The company also partners with media entities like The Volume for content creation.

Sports Betting Markets and Offerings

FanDuel's sportsbook provides a comprehensive range of betting markets across major professional and collegiate sports. For the National Football League, it offers thousands of weekly markets, including moneylines, point spreads, totals, and a wide array of player and team props. The platform is known for its user-friendly interface for constructing Same Game Parlays and for offering extensive futures markets, including frequently updated Super Bowl odds. College football coverage includes lines for most Division I games, with moneylines, spreads, and totals, along with props in permitted states.

For basketball, FanDuel offers hundreds of prop bets for most NBA games alongside standard moneyline, spread, and totals wagers. It provides extensive betting markets for every game during the NCAA men's basketball tournament, making it a popular destination for March Madness. The NHL is also well-covered, reflecting the company's official partnership with the league. The sportsbook features bets on all major U.S. sports, including MLB, soccer, golf, boxing, and motorsports. FanDuel continuously adds new features, such as the Sportsbook Rewards Club and expanded Bet Protect+ for NFL player props, which were rolled out for the 2026 football season.

Financial Performance and Corporate Structure

FanDuel Group is a wholly-owned subsidiary of Flutter Entertainment, a global gambling company. Flutter's financial reporting consolidates FanDuel's performance within its U.S. segment. For the fiscal year ended December 31, 2024, Flutter reported that its U.S. segment, which is dominated by the FanDuel brand, generated revenue of $5,798 million. This revenue encompasses sportsbook, iGaming, and other operational streams. The company's valuation has shifted significantly since its early days as a standalone fantasy sports operator. At the time of the 2018 merger with Paddy Power Betfair, the FanDuel board valued the company's stake at $465 million, a figure that led to litigation from founders who alleged undervaluation.

Flutter has steadily increased its ownership stake in FanDuel Group. Following the initial merger where it held a 61 percent controlling stake, Flutter announced in December 2020 that it had increased its stake to 95 percent through a $4.1 billion cash-and-stock deal. This move solidified Flutter's control and reflected the strategic importance of the U.S. market to its global portfolio. Leadership within FanDuel has also evolved, with CEO Matt King stepping down in May 2021 after four years in the role. The company continues to invest heavily in technology, marketing, and market expansion to maintain its competitive position.

• July 2009: Initial venture capital funding of $1.2 million from Pentech Ventures and Scottish Enterprise.
• January 2013: Closed an $11 million Series C funding round.
• September 2014: Announced $70 million in Series D funding.
• July 2015: Announced a $275 million Series E funding round, valuing the company over $1 billion.
• July 2018: Merged with Paddy Power Betfair's U.S. operations in a deal valuing FanDuel's stake at $465 million.
• December 2020: Flutter increased its stake to 95% in a $4.1 billion deal.

Responsible Gambling and Regulatory Standing

As a licensed operator in multiple jurisdictions, FanDuel is required to adhere to strict regulatory standards concerning consumer protection and responsible gambling. The company provides tools and resources for players to manage their activity, which it promotes through channels like its 'Play With a Plan' portal. In its Canadian communications, FanDuel clearly states age restrictions, which are 19+ in Ontario and 18+ in Alberta. It also provides contact information for provincial problem gambling support lines, such as ConnexOntario in Ontario.

The company's history includes regulatory settlements, such as a $1.3 million payment to the Massachusetts Attorney General's office in September 2017 to resolve allegations of unfair and deceptive practices prior to 2016. Operating in the newly regulated Ontario market requires compliance with the Alcohol and Gaming Commission of Ontario's rules. FanDuel's expansion into prediction markets in 2025 also introduces a new product category with its own regulatory considerations, particularly as it aims to operate in states where traditional sports betting remains illegal. The company's approach integrates responsible gambling messaging into its customer onboarding and ongoing engagement.

• Fantasy Football
• Fantasy Baseball
• Fantasy Basketball
• Fantasy Hockey
• Fantasy Soccer
• Fantasy Golf
• Fantasy NASCAR

Questions about FanDuel

Is FanDuel legal in Canada?

Yes, FanDuel operates legally in Canada under provincial regulation. Its sportsbook and online casino launched in Ontario on April 4, 2022, following the province's opening of its iGaming market to private operators. The service is available to adults aged 19 and over in Ontario. FanDuel also has a presence in Alberta for adults 18 and over. Canadian accounts are separate from U.S. accounts, and all wagering and deposits are conducted in Canadian dollars.

What can I bet on with FanDuel in Canada?

In Ontario, FanDuel offers a full online sportsbook and casino. The sportsbook covers all major sports, including the NHL, NFL, NBA, MLB, soccer, golf, and more, with markets for moneylines, point spreads, totals, and prop bets. The online casino features slots, blackjack, roulette, and live dealer games. The platform also provides daily fantasy sports contests. FanDuel's partnership with the NHL means it offers extensive betting options on hockey games.

How does FanDuel's NHL partnership work?

In November 2018, FanDuel entered a multi-year agreement to become a sports betting partner and the official daily fantasy sports partner of the National Hockey League. This partnership includes promotional rights and integration of FanDuel's brand across NHL platforms. On the same day, FanDuel also announced a separate sponsorship with the New Jersey Devils, featuring in-arena signage for its sportsbook. The deal helps promote FanDuel's NHL odds and betting markets to hockey fans.

When did FanDuel launch in Ontario?

FanDuel Sportsbook and FanDuel Casino officially launched in Ontario on Monday, April 4, 2022. This marked the company's entry into the Canadian regulated iGaming market. The launch provided Ontario residents and visitors aged 19 and over with access to FanDuel's full suite of sports betting and online casino offerings. The company had prepared for this expansion as Ontario opened its market to private operators, establishing separate Canadian accounts and customer support.

What is the difference between FanDuel Sportsbook and FanDuel Casino?

FanDuel Sportsbook is a platform for placing wagers on sporting events, while FanDuel Casino offers online casino games. The sportsbook features bets on all major U.S. sports like professional football, basketball, and baseball, including moneyline, spread, and player prop bets. The casino provides online blackjack, slot games, table games, and Live Dealer Games with real croupiers. Both products are available within the same app in regulated markets. As of January 2026, the online casino was available in Connecticut, Michigan, New Jersey, Pennsylvania, West Virginia, Ontario, and Puerto Rico. The sportsbook operates in 23 U.S. states and also in Ontario and Puerto Rico.

Does FanDuel offer poker in Canada?

FanDuel's primary offerings in Canada are its sportsbook, online casino, and daily fantasy sports. PokerStars, which is also owned by Flutter Entertainment, has a promotional relationship with FanDuel. However, specific poker product availability through the FanDuel platform in Canada, particularly in Ontario, should be verified directly on the FanDuel Ontario website or app. For the most current game listings, users are advised to check the official site.

Sources and further reading

• FanDuel (Wikipedia)
• FanDuel: Prediction Markets, Online Sportsbook, Casino & Daily Fantasy ... (fanduel.com)
• FanDuel review (sportsbookreview.com)
• FanDuel Sportsbook & Casino Canada, Legal Online Betting in ... (fanduel.ca)
• FanDuel Sportsbook Announces Canada Launch (fanduel.com)

Checked by the Nosy Mag desk. Last updated 2026-11-10.