FanDuel cuts hundreds of sportsbook jobs
Table of contents
- FanDuel has laid off several hundred sportsbook employees, with an internal email confirming the cuts across multiple teams.
- The latest round follows months of restructuring at Flutter Entertainment, including the wind-down of FanDuel TV and the departure of CEO Amy Howe in May.
- The cuts come as US sports betting operators restructure costs and position themselves to compete in the fast-growing prediction markets space.
FanDuel has cut several hundred sportsbook jobs, according to Front Office Sports, as parent company Flutter Entertainment (NYSE: FLUT) continues to reshape its US business amid weaker guidance, leadership changes, and growing competition from prediction markets.
FanDuel has around 5,000 employees in total, meaning the cuts may affect a few hundred people. A FanDuel spokesperson confirmed the layoffs and told Front Office Sports:
“While decisions like this are never easy, these changes will strengthen our ability to execute on our long-term strategy.”
Internal message confirms cuts
An internal email obtained by Awful Announcing confirmed the reductions. Karol Corcoran, managing director of sportsbook, wrote to remaining staff:
“Within Sportsbook, we said goodbye to a number of talented teammates across the teams. While today is difficult, I remain very confident in the future of our Sportsbook business, the strength of our strategy, and the opportunities ahead of us.”
According to LinkedIn and social media activity, employees in business development, operations, customer service, social media, and engineering were among those affected.
The cuts are not the first. FanDuel conducted a separate round of layoffs in November 2025, a source told Front Office Sports, and employees affected by the latest round received a nondescript calendar invite the evening before, joining a call the following morning with their manager and a human resources representative.
The sportsbook layoffs are separate from earlier restructuring at FanDuel Sports Network, a distinct entity operated by Main Street Sports Group. That business closed regional offices in Atlanta (74 jobs), Cleveland (27 jobs), Southport (40 jobs), and Minneapolis (20 jobs) earlier this year.
Leadership shift at Flutter
The layoffs arrive roughly a month after a significant leadership overhaul. Flutter confirmed on May 6 that Amy Howe had left the company after more than five years as CEO, with Christian Genetski, who had served as FanDuel’s president since joining the company in 2011, assuming responsibility for leading the FanDuel business.
According to an SEC filing cited by Yahoo Finance, Howe received a severance package of $4.37 million as part of the separation agreement.
Flutter also created a new role of president of Flutter Entertainment for Dan Taylor, previously CEO of Flutter International, who now oversees both the FanDuel business and his existing international responsibilities.
The leadership transition followed a difficult period for Flutter’s share price and a guidance cut. Flutter revised its full-year 2026 guidance in May, lowering its revenue midpoint to $18.305bn and adjusted EBITDA midpoint to $2.865bn, from previous guidance of $18.4bn and $2.97bn respectively. The company cited unfavorable first-quarter sports results and new state launch costs among the contributing factors.
Separately, in March FanDuel TV announced it would wind down over 20 months. Around 60% of staff were due to be cut by the end of June 2026, with the remainder continuing through November 2026, bringing total job losses from that process to more than 100. Then-CEO Howe told staff the network’s continuation did not align with the company’s long-term strategy.
A costly pivot
Penn Entertainment and DraftKings have also cut staff in recent months, and the pattern points to something more fundamental than individual company decisions.
Jordan Bender, equity research analyst at Citizens, told Front Office Sports the industry has reached a point where “growth is starting to materially slow,” citing eight years of expansion since the US Supreme Court decision that opened the door to legal sports betting, as well as the competitive threat from prediction market platforms.
Casino workers and regulators have called on Congress to address the regulatory gap that allows prediction market platforms to operate in states where licensed sports betting has yet to be introduced.
Flutter CEO Peter Jackson told CNBC following the company’s February earnings call that Flutter intends to invest $300 million in FanDuel Predicts, the company’s in-house prediction markets platform, acknowledging the investment would weigh on near-term guidance figures.
FanDuel launched FanDuel Predicts in December 2025 in partnership with CME Group, expanding to all 50 states in January.
Under Genetski’s leadership, FanDuel must stabilize its workforce, defend its roughly 41% share of the US sports betting market, and scale FanDuel Predicts in a market under active regulatory scrutiny.
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