Fan Duel

FanDuel operates consumer real-money gaming products in the United States, distributed primarily through mobile apps. Its iOS application, published by FanDuel, Inc., combines a sportsbook (bets on NFL, NBA, MLB and other leagues with real-time odds, live in-game markets and same-game parlays), an online casino, and "FanDuel Predicts," a prediction-markets product offered by FanDuel Prediction Markets LLC, a registered futures commission merchant. Predicts allows users to combine up to eight predictions and track them with live scoring, and is available in a distinct set of states from the sportsbook, including Alaska, Alabama, California, Delaware, Florida, Georgia, Hawaii, Idaho, Minnesota, North Dakota, Nebraska, New Mexico, Oklahoma, Rhode Island, South Carolina, South Dakota, Texas and Utah. Sportsbook access is restricted to select states with a 21+ age minimum (18+ in Washington, D.C. and Wyoming), while Predicts carries an 18+ minimum. Other app features include instant payouts, a Rewards Club loyalty program and refer-a-friend bonuses. [0]

The company was founded in 2009 by a group of five founders working out of the University of Edinburgh in Scotland, including Nigel Eccles (CEO), Tom Griffiths (chief product officer) and Rob Jones. It launched as a short-form, one-day fantasy sports product after pivoting from an earlier site on which users predicted the outcomes of news stories; the founding team observed that engagement concentrated on sports predictions rather than politics or entertainment. The founding concept rested on three ideas: compressing season-long fantasy contests into a single day, offering substantially larger prize pools (eventually reaching millions of dollars in the largest tournaments), and delivering the experience on mobile phones. [1][5]

FanDuel became one of the two leading daily fantasy sports operators alongside DraftKings, reaching more than 6 million active users and roughly $1 billion in valuation according to co-founder Tom Griffiths. A regulatory filing tied to its 2018 merger with Paddy Power Betfair reported 2017 revenue of $124 million and 1.3 million active customers. Following the U.S. Supreme Court's 2018 ruling striking down PASPA, which had barred most states from legalizing sports betting, the market expanded and FanDuel's product set moved into sports wagering. [1][2][5]

Founding story

According to co-founder Tom Griffiths, FanDuel originated with five founders in a small office or classroom at the University of Edinburgh in Scotland. Griffiths left a PhD to pursue startups, and the team reached FanDuel as its third idea, pivoting from a site where users predicted the outcomes of news stories after observing that engagement clustered around sports predictions rather than politics, world news or entertainment. The team validated demand before writing code by building game formats in a Google spreadsheet, advertising on Craigslist, and having participants send money, then interviewing them; users asked for higher price points. Co-founder Nigel Eccles, who had previously worked in the UK sports betting industry, said the team chose fantasy sports because sports betting was illegal in the U.S. outside Nevada at the time, and built around three concepts: one-day contests instead of six-month seasons, large real prize funds, and a mobile-first experience. [1][5]

Business model

FanDuel monetizes real-money consumer wagering and trading activity: sportsbook betting on live and pre-game markets, online casino play, and derivatives-style prediction market trades offered through FanDuel Prediction Markets LLC, a registered futures commission merchant. Customers deposit funds, place minimum-size wagers or trades, and can receive promotional non-withdrawable bonus bets or Predicts bonuses tied to first-time deposit and sustained activity requirements. In its earlier daily fantasy sports phase, the company ran paid entry contests with large prize funds, paying out roughly $10 million per week in contests as of 2014. [0][4]

Revenue derives from real-money wagering and gaming activity on its platforms; historically, paid-entry daily fantasy sports contests. A filing tied to the 2018 Paddy Power Betfair merger reported $124 million of revenue in 2017, and the company publicly projected $40 million of revenue for 2014. [2][4]

Traction

Reported metrics include a 2014 revenue projection of $40 million, roughly 80 employees and about $10 million in weekly contest payouts as of September 2014 [4]; $124 million of 2017 revenue and 1.3 million active customers per a filing tied to the 2018 merger [2]; more than 6 million active users at its daily fantasy sports peak per co-founder Tom Griffiths [5]; and 2.2 million iOS App Store ratings averaging 4.8 out of 5, with the app ranked #21 in the Sports category [0].

Latest developments

The FanDuel iOS app now bundles sportsbook, casino and "FanDuel Predicts," a prediction-markets product offered by FanDuel Prediction Markets LLC as a registered futures commission merchant, available in 18 listed states with an 18+ minimum age [0]. In February 2026, FanDuel Sports Network, the regional sports network carrying the FanDuel brand and owned by Main Street Sports Group, confirmed it will shut down in mid-April 2026 after the NBA and NHL regular seasons; all nine MLB teams had already left for the 2026 season and 13 NBA and 7 NHL teams remain through the shutdown [7]. Co-founder Nigel Eccles, who left in late 2017, has since founded Flick and later BetHog, a crypto-based sports betting/casino venture [1][2][6].