The legal, online sports betting landscape continues to change on almost a daily basis as new players enter the market and existing players develop new relationships.
Today fuboTV Inc. (NYSE: FUBO) announced they executed a binding letter of intent to acquire Vigtory, a sports betting and interactive gaming company. fuboTV, an over-the-top (OTT) internet television service, previously entered the sports betting space with a partnership with FanDuel Group in 2019.
According to the release, fuboTV expects to launch a sportsbook by the end of 2021. Terms of the deal were not released.
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Leveraging Vigtory’s sportsbook platform and igaming assets, fuboTV intends to create a frictionless betting experience for their customers where they’d integrate their sportsbook into fuboTV’s live TV streaming platform allowing a seamless viewing and betting experience.
Vigtory had been in discussions to gain market access within the United States and currently has a deal through Queen Casino in Iowa secured.
fuboTV intends to add a free-to-play gaming experience this summer, per the release. Initially it would be a stand-alone app, but later would be integrated into fuboTV’s user experience. fuboTV also acquired Balto Sports in December 2020. The free-to-play gaming will be available to everyone, whether or not they are fuboTV subscribers. fuboTV intends to launch a sportsbook app, which would provide current sports betting lines and the ability for customers to place wagers, cash in their winnings and more.
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Gannett may earn revenue from audience referrals to betting services. Newsrooms are independent of this relationship and there is no influence on news coverage.
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