FanDuel Reportedly Parts Ways with Sports Prez Mike Raffensperger

Mike Raffensperger, FanDuel’s president of sports, is reportedly preparing to exit the company. His departure comes amid a somewhat turbulent period of FanDuel’s parent company, Flutter Entertainment, although sources suggested that his decision is unrelated to that fact.

FanDuel to Distribute Raffensperger’s Responsibilities Among Its Team

According to reports, Raffensperger announced his departure in an internal memo, effectively confirming his intention to end his eight-year tenure at FanDuel. During his time in the role, he played a key role in shaping the sports division.

Raffensperger has been a core pillar of FanDuel’s business ever since the repeal of the PASPA in 2018 and the advent of legalized sports betting across the US. Prior to his appointment as president of the company’s sports segment in 2024, he served as FanDuel’s chief marketing officer and chief commercial officer. Raffensperger previously worked for Amazon, DIRECTV, and Magnet Media.

As mentioned, the president of sports’ decision to leave FanDuel is said to be a purely personal one and has not been motivated by the company’s recent hurdles.

For context, FanDuel’s parent, Flutter Entertainment seems to be beset by a variety of difficulties. While FanDuel’s CEO, Amy Howe, rejected the notion that the divisive prediction markets sector represents a direct threat to sports betting, a mix of setbacks has impacted Flutter’s performance. As a result, the company has experienced a drastic drop in share price, with its stock’s price standing at $113 apiece as of the time of this writing. This represents a dramatic decline from 2025, when Flutter’s shares peaked at over $300.

In the meantime, FanDuel is unlikely to seek a replacement and will likely distribute Raffensperger’s responsibilities across existing members of its sports division, sources familiar with the matter asserted.

FanDuel Welcomed a New SVP of Marketing

In the meantime, FanDuel just onboarded veteran marketer Ari Avishay as its new senior vice president of marketing. Executives hailed the new appointee’s “proven track record” of driving growth via effective marketing, highlighting his previous positions at Paramount+ and Hulu as a key selling point.

While Avishay was set to respond directly to Raffensperger, the latter employee’s reported exit could signify a shift in responsibilities.