Paddy Power in speak to combine with Fan Duel
16 May 2018
Gambling company Paddy Power Betfair has stated it remains in talks over a merger in the yohaig code US with fantasy sports site Fan Duel.
Talks centre around combining its US operation with Fan Duel to produce an organization to "to target the potential US sports betting market".
It comes as the yohaig code American Supreme Court reversed 1992 legislation that banned sports wagering in a lot of US states.
Fan Duel allows sports fans to gamble on dream sports leagues and contests.
Merger abandoned
It offers fantasy sport gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult fantasy sports players in The United States and Canada.
Players choose which contest they wish to enter, develop dream sports teams that do not breach a dream income cap, and take part in head-to-head or multi-player contests.
The business, which was founded in 2009, is based in New York and has about 400 workers.
A proposition to merge with rivals Draft Kings was abandoned in 2015, after being blocked by the yohaig code 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 signalled its objective to get in the sports betting market.
Horseracing channel
The Dublin-based gambling firm currently has an US department, which includes the TVG Network, a horseracing TV channel and online betting network which is active in 35 states.
And in the state of New Jersey, the business has an online gambling establishment and a horse racing betting exchange.
A merger with Fan Duel would bet9ja's welcome offer it access to countless possible sports betting fans.
Neil Wilson, primary analyst at markets.com, said betting firms were currently jockeying for position after the Supreme Court judgment.
"Fan Duel rival Draft Kings has currently stated it will enter the sports wagering market and there is some sense that local incumbents might have the ability to get considerable market share before UK and European operators get a chance to mobilise their forces," he said.
