Paddy Power in talks to combine with Fan Duel
16 May 2018
Gambling firm Paddy Power Betfair has stated it is in talks over a merger in the US with dream sports site Fan Duel.
Talks centre around combining its US operation with Fan Duel to develop a company to "to target the prospective US sports betting market".
It comes as the American Supreme Court overturned 1992 legislation that banned sports betting in many US states.
Fan Duel enables sports fans to bet on fantasy sports leagues and contests.
Merger abandoned
It offers dream sport video gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult dream sports gamers in The United States and Canada.
Players pick which contest they wish to go into, develop fantasy sports groups that do not breach a fantasy salary cap, and participate in head-to-head or multi-player contests.
The business, which was established in 2009, is based in New York and has about 400 workers.
A proposal to combine with rivals Draft Kings was deserted last year, after being blocked by the Federal Trade Commission on the grounds that the combined firm would control a 90% market share.
Since the Supreme Court ruling on 14 May Draft Kings has signified its objective to go into the sports betting market.
Horseracing channel
The Dublin-based gambling company already has an US division, which includes the TVG Network, a horseracing TV channel and online wagering network which is active in 35 states.
And in the state of New Jersey, the company has an online casino and a horse racing wagering exchange.
A merger with Fan Duel would bet9ja's welcome offer it access to millions of prospective sports wagering fans.
Neil Wilson, primary analyst at markets.com, stated betting companies were currently jockeying for position after the Supreme Court judgment.
"Fan Duel competing Draft Kings has currently stated it will enter the sports betting market and there is some sense that regional incumbents may have the yohaig code ability to gain considerable market share before UK and European operators get a chance to mobilise their forces," he stated.
