FanDuel is the undisputed leader in American sports betting. It controls over 40% of the U.S. sportsbook market, generated $6.9 billion in revenue in 2025, and had users stake an extraordinary $53.8 billion in sports bets and casino games in that same year.
But behind those jaw-dropping numbers is a fascinating ownership journey that starts in Edinburgh, Scotland, passes through a dramatic $18.6 billion acquisition, and ends with a single Irish-American company owning it entirely for the first time in FanDuel’s 16-year history.
Who Owns FanDuel Right Now in 2026?
FanDuel is 100% owned by Flutter Entertainment plc — the world’s largest online sports betting and iGaming company, dual-listed on the New York Stock Exchange (NYSE: FLUT) and the London Stock Exchange (LSE: FLTR). Flutter completed its buyout of the final 5% stake held by Boyd Gaming Corporation in Q3 2025 for approximately $1.755 billion, making FanDuel a wholly owned subsidiary for the first time.
One important complication remains. Fox Corporation does not currently own shares in FanDuel, but holds a live option to acquire an 18.6% equity stake for $4.5 billion, exercisable before December 3, 2030. Until Fox either exercises or walks away from that option, it remains a significant wildcard in FanDuel’s ownership picture.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Stake | Key Detail |
|---|---|---|---|
| Flutter Entertainment plc (NYSE: FLUT) | Parent Company & 100% Owner | 100% of FanDuel | World’s largest online betting operator; bought final 5% from Boyd in Q3 2025 |
| Fox Corporation | Option Holder (not yet a shareholder) | 0% currently; option for 18.6% | Option to buy 18.6% for $4.5B; exercisable before December 3, 2030 |
| Capital Research & Management Co. | Largest Flutter Shareholder | ~12.92% of Flutter plc | Biggest institutional shareholder in FanDuel’s parent company |
| Vanguard Group | Institutional Flutter Shareholder | Significant Flutter stake | Major passive index fund investor in Flutter plc |
| BlackRock | Institutional Flutter Shareholder | Significant Flutter stake | Major passive index fund investor in Flutter plc |
| Boyd Gaming (exited) | Former 5% Stakeholder | Exited Q3 2025 | Sold stake to Flutter for $1.755B; strategic partnership extended to 2038 |
| Christian Genetski | Acting Head of FanDuel | Management role | President of FanDuel; took over leadership in May 2026 after Amy Howe departed |
| Peter Jackson | Flutter Group CEO | Group leadership | Oversees FanDuel as part of Flutter’s global portfolio |
The Origin Story: A Scottish Pivot That Became a $31 Billion Business
FanDuel was not born as a sports betting company. It was founded on July 21, 2009, in Edinburgh, Scotland, by five co-founders — Nigel Eccles, Lesley Eccles, Tom Griffiths, Rob Jones, and Chris Stafford — as a pivot from an earlier venture called Hubdub, a web-based news prediction market that struggled to find a sustainable business model.
After attending SXSW Interactive in 2009, the team spotted a gap in the daily fantasy sports space. They raised $1.2 million in seed funding from Pentech Ventures and Scottish Enterprise and relaunched as FanDuel — a platform offering short-duration, real-money fantasy sports contests that delivered results within a day rather than a full season. The concept was immediately addictive. FanDuel paid out over $500 million in prizes by 2014 and raised more than $416 million across multiple funding rounds between 2013 and 2015, reaching a valuation above $1 billion — achieving unicorn status in just five years.
How Flutter Entertainment Came to Own FanDuel
Flutter Entertainment first acquired a stake in FanDuel in 2018, when the company merged FanDuel with the U.S. operations of Paddy Power Betfair (which later became Flutter Entertainment). That deal gave Flutter a majority stake and placed FanDuel at the center of Flutter’s entire American strategy.
In December 2020, Flutter increased its holding to 95% by purchasing an additional stake from Fastball Holdings for $4.1 billion in a cash-and-stock deal. The remaining 5% was held by Boyd Gaming Corporation, one of America’s largest casino operators, which had become a strategic partner providing FanDuel with market access across multiple U.S. states.
On July 10, 2025, Flutter announced it was buying out Boyd’s remaining 5% stake for approximately $1.755 billion — placing an implied valuation on FanDuel of approximately $31 billion. The deal closed in Q3 2025, and for the first time in its history, FanDuel had a single, sole owner. Flutter also extended its strategic partnership with Boyd until 2038, ensuring continued market access even as the ownership structure simplified completely.
The Fox Corporation Option: The $4.5 Billion Wildcard
The most intriguing unresolved element of FanDuel’s ownership story involves Fox Corporation — the media giant behind Fox News, Fox Sports, and the Super Bowl.
In November 2022, an arbitrator ruled that Fox Corporation had a valid option to acquire an 18.6% equity interest in FanDuel for $3.7 billion, based on a valuation of $20 billion, with the price increasing by 5% per year over the 10-year option period. By 2026, that price has risen to approximately $4.5 billion. Fox has until December 3, 2030 to decide whether to exercise it.
If Fox exercises the option, it would become a meaningful minority shareholder in FanDuel — a natural strategic fit given that Fox Sports broadcasts major sporting events that drive FanDuel betting volume. If Fox walks away, Flutter retains 100% ownership permanently. Either way, it is one of the most consequential pending decisions in the American sports betting industry.
The May 2026 Leadership Shake-Up
Just weeks ago, FanDuel’s ownership story intersected with a dramatic leadership change.
On May 6, 2026, Flutter Entertainment announced that Amy Howe had left the company and her role as Chief Executive Officer of FanDuel. Flutter Group CEO Peter Jackson confirmed that Christian Genetski, who had served as President of FanDuel since 2015, would assume leadership of the FanDuel business immediately. Genetski is a deeply experienced operator who played a pivotal role in unlocking sports betting legislation across multiple U.S. states and has been instrumental in scaling FanDuel to its current position as the clear No. 1 operator in American sports betting.
Who Is Flutter Entertainment — The Company Behind FanDuel?
Since FanDuel is wholly owned by Flutter Entertainment, understanding who owns FanDuel ultimately means understanding who owns Flutter.
Flutter Entertainment plc is a publicly traded company listed on both the NYSE and LSE. It is the world’s largest online betting company, operating brands including FanDuel, Paddy Power, Betfair, PokerStars, Sky Betting & Gaming, and Sportsbet. Nearly 96% of all Flutter outstanding shares are held by institutional investors — with Capital Research & Management Company as the largest single shareholder at approximately 12.92%, followed by significant positions held by Vanguard, BlackRock, and other major asset managers. No single private individual or family controls Flutter.
FanDuel’s Dominance: The Numbers Tell the Story
FanDuel is not just winning in American sports betting — it is dominating in a way that competitors have struggled to match.
FanDuel generated $6.9 billion in revenue in 2025, a 20.2% increase over the previous year. Users staked $53.8 billion on the platform across sports betting and casino games. The platform holds over 40% market share in the U.S. sportsbook market — more than double its nearest competitor. It has multi-year partnerships with the NFL, NBA, and NHL, embedding FanDuel odds and promotional content directly into broadcasts and sports media coverage across the country.
The business that started with $1.2 million in seed funding from a Scottish government agency in 2009 is now valued at approximately $31 billion — and is still growing.
Frequently Asked Questions (FAQs)
Q1. Who owns FanDuel in 2026?
FanDuel is 100% owned by Flutter Entertainment plc (NYSE: FLUT), the world’s largest online sports betting company, after buying out Boyd Gaming’s final 5% stake in Q3 2025.
Q2. When did Flutter Entertainment take full ownership of FanDuel?
Flutter completed its buyout of Boyd Gaming’s 5% stake in Q3 2025 for approximately $1.755 billion, giving it 100% ownership for the first time.
Q3. Who founded FanDuel and when?
FanDuel was founded on July 21, 2009 in Edinburgh, Scotland by Nigel Eccles, Lesley Eccles, Tom Griffiths, Rob Jones, and Chris Stafford as a daily fantasy sports platform.
Q4. Does Fox Corporation own FanDuel?
No — but Fox Corporation holds an option to acquire 18.6% of FanDuel for approximately $4.5 billion, exercisable at any time before December 3, 2030.
Q5. Who is the current CEO of FanDuel in 2026?
Christian Genetski, formerly President of FanDuel, took over leadership of the business in May 2026 after Amy Howe departed the company.
Q6. How much revenue does FanDuel generate?
FanDuel generated $6.9 billion in revenue in 2025, with users staking $53.8 billion in sports bets and casino games across the platform.
Q7. What is FanDuel’s market share in the U.S.?
FanDuel holds over 40% of the U.S. sportsbook market — making it the clear No. 1 sports betting operator in America by a significant margin.
Q8. Is FanDuel publicly traded?
No. FanDuel itself is a private subsidiary. Its parent company Flutter Entertainment is publicly traded on both the New York Stock Exchange (NYSE: FLUT) and the London Stock Exchange (LSE: FLTR).
FanDuel is 100% owned by Flutter Entertainment plc (NYSE: FLUT; LSE: FLTR) — the world’s largest online sports betting company — following Flutter’s buyout of Boyd Gaming’s final 5% stake in Q3 2025 for $1.755 billion. Flutter itself is publicly traded with no single controlling shareholder, with Capital Research & Management Company as the largest institutional investor at approximately 12.92%.
FanDuel was founded in Edinburgh, Scotland on July 21, 2009 by Nigel Eccles and four co-founders as a daily fantasy sports pivot, and grew into the No. 1 sports betting platform in America with $6.9 billion in 2025 revenue and over 40% U.S. market share. Christian Genetski now leads the business following a leadership change in May 2026.
And a live Fox Corporation option to buy 18.6% for $4.5 billion — exercisable until December 2030 — means the ownership story may not be completely finished just yet.
