FanDuel Stock: How to Invest in FanDuel in 2024

Mike Munno

Updated June 6, 2024

Is FanDuel stock the golden ticket investors have been searching for? And more importantly, is FanDuel publicly traded? Fanduel online sports betting has been picking up steam ever since the U.S. Supreme Court legalized it in May 2018, growing to $83.6 billion. 

Since then, more and more states have been legalizing online sports betting. The floodgates are open and investors and gamblers alike are looking to take advantage. 

Today, we’ll be talking about why buying FanDuel stock may give investors an edge compared to other sports betting stocks.

FanDuel Stock

FanDuel Group, Inc. is a leading online sports betting and gaming company in the United States. While FanDuel is only available in the U.S., so gamblers are working around it.

With users around the world changing their IP addresses to reflect U.S. locations, technically the app is international. FanDuel provides users with a wide range of sports betting options. From popular sports like football, basketball, and baseball to more niche sports like tennis and MMA.

FanDuel also offers daily fantasy sports contests, which allow users to compete against each other for cash prizes.

The company was revolutionary from the beginning. Founded in 2009, FanDuel changed the face of fantasy sports. By allowing their audience the chance to play one-day fantasy games for cash prizes, they changed the game — literally. 

In addition to its sports betting offerings, FanDuel has also expanded into online casino gaming, offering a variety of games. Users can now partake in slots, blackjack, and roulette all online.

Overall, FanDuel is a well-established and respected brand in the online gambling industry. Their user-friendly platform, competitive odds, and generous promotions have made them quite popular.

With more doors only opening for FanDuel, it’s hard to make a case against them. But before you invest in FanDuel stock, there are some things you should consider. 

Is FanDuel Publicly Traded?

When it comes to the question of whether or not FanDuel is publicly traded, there is good and bad news. The bad news is that FanDuel is not a publicly traded company. This means that you cannot buy their stock directly. 

The good news is that FanDuel has a parent company, Flutter Entertainment, in which you can invest in. While you can’t buy FanDuel stock right now, that doesn’t mean it won’t be an option in the near future. 

Analysts have speculated that FanDuel could be listed on U.S. stock exchanges in the near future. In the meantime though, investing in Flutter Entertainment is your best bet to gain exposure to FanDuel stock.

In fact, Flutter just recently became tradeable on the New York Stock Exchange under the ticker symbol FLUT. You can also buy shares of Flutter through the London Stock Exchange (LON: FLTR)

So just how big is FanDuel? And is it big enough to warrant a public offering? Well, the company reported that it accepted 50,000 bets per minute at peak levels during Super Bowl LVII. That’s a lot of transactions and revenue in just one minute. Super Bowl LVIII was even bigger. In fact, FanDuel made a statement that said they took 14 million bets for a total of $307 million from the Big Game. 

This writer even took part in some of FanDuel’s Super Bowl specials: 

Fanduel Stock Super Bow LVIII Winnings

2020-2021 was a great time period for IPOs and stocks in general. However, things started to take a turn in Q4 of 2021. Perhaps that’s why FanDuel is waiting to go public. They could be waiting for market conditions to turn around. 

The market didn’t look any more forgiving in 2022-2023, either. Just look what happened to DraftKings Inc (NASDAQ: DKNG):

DKNG Chart compared to FanDuel Stock/FanDuel IPO

 

As you can see, DKNG had an amazing IPO. Soaring from less than $20 per share to as high as almost $73 before coming back down to as low as $10.69. But now that markets are becoming more bullish, we could see Flutter and FanDuel preparing to make a move. 

There are other online sports betting stocks you can invest in while you wait. In addition to Draft Kings (NASDAQ: DKNG), investors can turn to Ceasars Entertainment Inc (NASDAQ: CZR) or MGM Resorts International (NYSE: MGM). 

Rather than invest in a sports betting company that you don’t believe in, you can always wait for the FanDuel IPO date.

FanDuel IPO Date

FanDuel could become a publicly traded stock by the end of 2024. For the first time in a while, there has finally been an update regarding the status of a FanDuel IPO. It’s a mixed bag of news, but in the end I believe investors will be pleased. As stated earlier, Flutter Entertainment (LON: FLTR, NYSE: FLUT) became listed on the New York Stock Exchange in February 2024. This is huge news.

Peter Jackson, Flutter Chief Executive, believes the U.S. listing “will bring the group significant benefits from accessing the world’s deepest and most liquid capital markets.” 

In addition to announcing the NYSE listing, Flutter executives also decided to de-list from the Euronext Dublin Stock Exchange. The delisting is nothing to worry about, though. The company believes it will be able to better manage “regulatory complexities” with just two listings on the London and New York Stock Exchanges. 

Chief investment strategist for the exchange-traded fund (ETF) iBet, Jeffrey Kamys, said “FanDuel would be the Apple of our industry, it would be our top holding if they went public.” That’s quite high praise and a great sign for potential FanDuel investors. It would also make sense why you wouldn’t want to settle for buying DKNG or MGM. 

Investors are eagerly awaiting the IPO announcement. While they wait, Flutter is in talks about listing on an American stock exchange. They believe that listing on an American exchange would open more doors for the company and we agree. It is hard to see any adverse effect Flutter may experience by listing on the NYSE or Nasdaq. Perhaps they don’t perform as well, in which case FanDuel may consider delaying their IPO even further.

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If you want to gain exposure to FanDuel but don’t want to wait until their IPO, Flutter is a decent compromise. While it’s not exactly the same thing as buying FanDuel stock directly, investing in Flutter is the next best thing. 

When FanDuel stock does become a real option for investors, you can bet that it will become the top online sports betting company. However, that’s not to say their competition won’t be tough. While DKNG took a hit, they are recovering nicely. In fact, MGM and CZR took similar hits when the market turned, and they’re recovering even better:

Fanduel stock vs other sports betting stocks

As you can see, buying these select sports betting stocks would not have been a bad bet during the market dip. However, those with patience for the FanDuel IPO could be handsomely rewarded. In the meantime though, FLUT is not a bad way to gain exposure to Fanduel stock. 

Final Take on FanDuel Stock

FanDuel Group, Inc. is a well-established and respected brand in the online gambling industry. While you will have to wait to buy shares of FanDuel stock, you can buy shares of their parent company Flutter. 

While you can purchase shares of Draft Kings, Cesar Entertainment, MGM, or even sports betting ETFs such as iBET Sports Betting and Gaming, many eagerly away the FanDuel IPO. Once FanDuel stock is available on the market, wise investors and day traders alike will be lining up to buy it. 

The ones to make real money from FanDuel stock and its IPO will be the investors who got in while it was still a private company. Investing in private companies is a tried and true strategy used by billionaires and angel investors around the world. 

If you have any interest in learning how to invest in companies BEFORE they go public, then I highly recommend looking at Main Street Ventures by Jason Williams. Jason has been leveraging recent legislation and his contacts on Wall Street to get ordinary retail investors in on private company deals. It’s as profitable as it sounds, see for yourself… 

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