Paddy Power in speak to merge with Fan Duel
16 May 2018
Gambling firm Paddy Power Betfair has said it is in talks over a merger in the yohaig code US with dream sports site Fan Duel.
Talks centre around integrating its US operation with Fan Duel to produce a service to "to target the prospective US sports betting market".
It comes as the American Supreme Court overturned 1992 legislation that banned sports betting in most US states.
Fan Duel allows sports fans to bet on dream sports leagues and contests.
Merger deserted
It offers dream sport gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult dream sports gamers in The United States and Canada.
Players choose which contest they wish to enter, construct dream sports groups that do not breach a dream salary cap, and participate in head-to-head or multi-player contests.
The company, which was established in 2009, is based in New York and has about 400 workers.
A proposition to merge with competitors Draft Kings was abandoned 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 actually indicated its intent to enter the sports gambling market.
Horseracing channel
The Dublin-based gambling firm already has a United States division, that 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 give it access to countless prospective sports wagering fans.
Neil Wilson, chief expert at markets.com, stated betting companies were currently jockeying for position after the Supreme Court judgment.
"Fan Duel rival Draft Kings has already stated it will get in the sports betting market and there is some sense that regional incumbents may be able to get considerable market share before UK and European operators get a chance to mobilise their forces," he stated.
