FanDuel’s Sports President Mike Raffensperger to Step Down

Mike Raffensperger to Leave FanDuel After Eight Years

Mike Raffensperger, who serves as FanDuel’s president of sports, is reportedly planning to leave the company. His departure ends an eight-year journey where he significantly contributed to the growth and development of FanDuel’s sports division.

Raffensperger’s Impact and Career Background

Raffensperger has been a central figure at FanDuel, especially following the repeal of PASPA in 2018 which paved the way for legalized sports betting in the United States. Before becoming president of sports in 2024, he held key leadership roles including chief marketing officer and chief commercial officer. His career also includes experience with major companies such as Amazon, DIRECTV, and Magnet Media.

FanDuel’s Leadership Transition Plans

Sources familiar with the situation indicate that Raffensperger’s decision to depart is a personal one and unrelated to challenges faced by FanDuel’s parent company, Flutter Entertainment. Following his exit, FanDuel intends to reassign his responsibilities among current members of the sports leadership team rather than immediately appointing a successor.

Challenges at Flutter Entertainment

Flutter Entertainment, the parent company of FanDuel, has been navigating a difficult period marked by various setbacks. Despite this, FanDuel CEO Amy Howe dismissed concerns that emerging prediction markets pose a threat to traditional sports betting. Nevertheless, Flutter’s share price has significantly declined from its peak above $300 in 2025 to around $113 recently.

New Marketing Leadership at FanDuel

In a separate development, FanDuel recently appointed Ari Avishay as the senior vice president of marketing. Avishay is recognized for his strong track record in driving growth through effective marketing strategies, having held prominent roles at Paramount+ and Hulu. While Avishay was initially to report directly to Raffensperger, the latter’s departure may lead to a realignment of responsibilities within the team.