FanDuel Group is an American gambling company that offers sportsbook, daily fantasy sports, horse racing, and online casino services.
The company operates sportsbooks in a number of states including New Jersey, Pennsylvania, Indiana and West Virginia, as well as an online horse race betting platform, and a daily fantasy sports service.
[12] In October 2015, The New York Times reported that an employee of DraftKings inadvertently released data before the start of the third week of NFL games and won $350,000 on the FanDuel website.
[15] On June 19, 2017, the Federal Trade Commission (FTC) announced that it would seek a preliminary injunction to block the then proposed merger.
The FTC stated that the proposed transaction would give the combined company 90% of the DFS market, which it considered to be a monopoly position.
[17][18] In September 2017, FanDuel and DraftKings each paid $1.3 million to settle with the Massachusetts Attorney General's office over allegations of unfair and deceptive practices by the companies prior to 2016.
[20] Co-founder Tom Griffiths left the company shortly thereafter, replaced by Nik Bonaddio, formerly of NumberFire, as Head of Product.
Paddy Power Betfair planned to contribute $158 million and merge its existing assets in the United States (which also include the horse racing oriented cable networks TVG Network and TVG2) into FanDuel; Paddy Power Betfair holds a 61% controlling stake, with the option to increase its stake to 80% and 100% over time.
[31] FanDuel also offers online sports betting in Indiana, New Jersey, Illinois, Pennsylvania, West Virginia, and New York.
[32][33][34] In August 2018, FanDuel announced that it had partnered with Minute Media to create The Duel, a new site for fantasy/sports betting information generated by fans.
[35] In February 2020, FanDuel reached an agreement with Scientific Games to serve as the technology partner for its current and future sports betting operations.