FanDuel is a private online gambling and gaming company offering sportsbook, daily fantasy sports, horse racing, and online casino services. It is headquartered in New York City and operates across multiple US states.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$20B
Valuation event, Dec 2020, Perplexity
UpMarket Estimate
$17B
Based on UpMarket valuation model
Previous Price
$11B
Valuation event Dec 2020
How to Invest in FanDuel Through UpMarket
FanDuel shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available FanDuel offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Dec 2020
Valuation event
$20B
Dec 2020
Valuation event
$11B
Why Investors Are Watching FanDuel
Growth Signal
FanDuel holds 43% U.S. market share as Flutter's top growth engine
Flutter says FanDuel leads the U.S. market with a 43% market share, making it the dominant platform in online sports betting and iGaming. The company describes FanDuel as Flutter's largest growth engine in the U.S. as analysts project continued revenue expansion.
Competitive Moat
FanDuel's scale and U.S. listing widen investor access
Flutter is the largest online sports-betting operator in the U.S., and its New York Stock Exchange listing broadened access for U.S. investors. The company says its dual-listing move could help accelerate the business and strengthen its market position.
Market Opportunity
Analysts see FanDuel driving 2025 U.S. revenue growth
S&P Global Market Intelligence said FanDuel is Flutter's largest U.S. growth engine, estimating 2025 revenue at $5.2 million. The same report said analysts expect Flutter's U.S. revenue to rise 28%, highlighting a sizable addressable market.
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No. As of March 2026, FanDuel is a private company and does not trade on any public stock exchange. Accredited investors can access FanDuel shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
FanDuel does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in FanDuel shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. FanDuel shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
FanDuel operates sportsbook, daily fantasy sports, horse racing, and online casino services and is valued at about $17B, with 43% U.S. market share as Flutter’s top growth engine — accredited investors can access FanDuel stock through UpMarket.