Paddy Power in speak to combine with Fan Duel

16 May 2018

Gambling company Paddy Power Betfair has said it is in talks over a merger in the US with fantasy sports website Fan Duel.

Talks centre around combining its US operation with Fan Duel to create a service to "to target the prospective US sports betting market".

It comes as the American Supreme Court overturned 1992 legislation that banned sports wagering in the majority of US states.

Fan Duel allows sports fans to bet on fantasy sports leagues and contests.

Merger deserted

It offers fantasy sport gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult fantasy sports gamers in The United States and Canada.

Players select which contest they wish to enter, construct fantasy sports teams that do not breach a fantasy income cap, and engage in head-to-head or multi-player contests.

The company, which was established in 2009, is based in New york city and has about 400 staff members.

A proposition to merge with rivals Draft Kings was abandoned in 2015, after being obstructed by the yohaig code Federal Trade Commission on the grounds that the combined company would manage a 90% market share.

Since the Supreme Court judgment on 14 May Draft Kings has actually indicated its intent to get in the sports gambling market.

Horseracing channel

The Dublin-based betting company currently has a United States department, that 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 gambling establishment and a horse racing betting exchange.

A merger with Fan Duel would bet9ja's welcome offer it access to countless prospective sports wagering fans.

Neil Wilson, chief expert at markets.com, said betting firms were already jockeying for position after the Supreme Court judgment.

"Fan Duel competing Draft Kings has currently said it will go into the sports wagering market and there is some sense that local incumbents may be able to get considerable market share before UK and European operators get a possibility to mobilise their forces," he said.