FanDuel Casino Expands Jackpot Feature with Double-Chance Option

FanDuel Casino has released an improved version of its FanDuel Casino Jackpots feature.

Players in the Michigan online casino, New Jersey online casino, and Pennsylvania online casino markets can now double their chances of winning by increasing their wager contribution to $0.20. 

The update is based on the success of the original jackpot system, which was released in April 2025. Players can still opt in at the previous $0.10 rate, giving them more control over their level of participation and overall stake per bet.

The new functionality continues FanDuel's focus on expanding its casino offerings while increasing engagement among iGaming customers. Commercial Vice President James Davison said the new jackpot addition aims to "create even more opportunities for players to win," and that FanDuel remains committed to "delivering the most rewarding casino experience every day."

There are four levels of progressive prizes at FanDuel Casino Jackpots: Mini, Minor, Major, and Mega. They all happen at random times during the game. 

Since the launch of the jackpot system in April, there have been more than 450,000 jackpots and more than $300 million in winnings across all participating states.

In February of last year, FanDuel bought BeyondPlay, which helped improve its multiplayer engagement and jackpot technology. The partnership has helped FanDuel to introduce new features that are more flexible and dynamic for players.

Bank of America downgrade impacts FanDuel parent Flutter

This week, Bank of America changed its rating for Flutter Entertainment, the parent company of FanDuel Casino, and its rival DraftKings, from "buy" to "neutral." The rating caused the company's stock prices to drop. 

Analyst Shaun Kelley cited concerns over "structural hold" volatility, referring to the proportion of sportsbook handle retained after payouts. 

Kelley said the data indicates recent hold rates have been inconsistent, particularly during football season. The average shortfalls are about 200 basis points during the final quarter over the past two years.

Lower-than-expected hold percentages in September and October prompted BofA to reduce third- and fourth-quarter EBITDA forecasts by $100 million for Flutter and $150 million for DraftKings. Kelley also noted that the risks associated with state-level taxes could worsen in 2026 as lawmakers seek new revenue streams. 

This is because the Illinois sports betting, Louisiana sports betting, and New Jersey sports betting markets all raised taxes on online sports betting recently.

There may also be increased pressure on Flutter in its home market, as people anticipate that the UK Autumn Budget could raise gaming taxes. Kelley stated that changes in UK regulations have previously impacted Flutter's value, whereas DraftKings is more likely to be affected by potential tax increases in US states. 

As they approach 2026, both companies may need to contend with tighter margins again.