Ms. Howe is leading sports-betting operator during a period of heated industry competition
Ms. Howe said FanDuel expects to reach revenue of $1.8 billion to $2 billion by the end of the year. FanDuel now operates in 11 states and has over 2 million customers, with more states expected to allow betting in the coming months.
“Part of our playbook is to get to market on day one and try to secure that leading position as quickly as possible,” said Ms. Howe.
Ms. Howe joined FanDuel in February in her newly created position of President, where she oversaw core business operations in sports, digital casino games, racing and daily fantasy sports. In July, he was appointed interim chief executive to replace Matt King, who left to join Fanatics Inc., a sports-merchandise company to help drive expansion into gambling.
FanDuel is part of Flutter, a Dublin-based gambling company that also owns Betfair, Paddy Power and PokerStars.
The Supreme Court issued a ruling in 2018 that allowed states beyond Nevada to legalize sports betting. Since then, 32 states and the District of Columbia have legalized sports gambling. Casinos, betting technology developers and media companies have rolled out a flurry of deals, and the concept of sports betting is reaching American consumers like never before.
FanDuel was one of three companies selected by the National Football League as the official sports-betting partner, along with rivals Caesars Entertainment. Inc.
and DraftKings Inc.
The deals gave companies access to NFL content and authorization to purchase gambling ads during games this season, a first for the league.
Ms Howe said betting in the NFL season has had a strong start in line with the company’s expectations, particularly with success in parlay bets, in which gamblers place bets on the outcome of two or more events. He said that almost 80% of FanDuel bookies on the NFL have parlay bets. “You’re looking at a consumer who is very engaged in sports betting,” she said.
FanDuel, along with DraftKings, got its start in fantasy sports before moving to sports gambling. Digital-focused companies have come face-to-face with casino operators such as MGM Resorts International and Caesars, which are now moving into the online arena.
At Ticketmaster, as global chief operating officer, Howe led the modernization of the company’s ticketing platform and increased its mobile app customer base by 400%, according to a statement from Flutter.
Katherine Sayre at [email protected]