Paddy Power Betfair Buys Fantasy Sports Website Fan Duel > 자유게시판 개인전용 문제은행

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Paddy Power Betfair buys dream sports site Fan Duel

23 May 2018

Gambling company Paddy Power Betfair has consented to combine with the US fantasy sports wagering site Fan Duel.

It wishes to target the US sports betting market that is set to open after a court decision.

In May, the US Supreme Court reversed 1992 legislation that prohibited sports betting in most states.

Fan Duel, which was founded in Scotland, enables sports fans to gamble on dream sports leagues and contests in American sports.

The bet9ja's welcome offer

Under the agreement, Paddy Power Betfair will throw in its existing US possessions worth $612m along with $158m of cash to take a 61% stake in the combined service.

Existing Fan Duel financiers will own 39%.

The Dublin-based company will manage business, which will end up being a subsidiary.

Paddy Power Betfair manager Peter Jackson stated the mix would produce the "largest online business" in the US gaming market.

" [We will have] a big sports-focused client base and a comprehensive across the country footprint," he stated.

The punters

Fan Duel lets its consumers bet on dream sport games, based around NFL Football, NBA basketball, MLB baseball and NHL ice hockey.

There are an approximated 30 million adult dream sports players in North America.

Users select fantasy sports teams utilizing a dream budget plan, and play head-to-head or multi-player contests online.

Players pay an entry cost for each contest and for prize money.

The landscape

Paddy Power Betfair went into the yohaig code US dream sports market last year with the acquisition of Draft, a United States fantasy sports website, for $48m (₤ 35m).

The Dublin-based firm already has a United States division, that includes the TVG Network, a horseracing TV channel and an online betting network which is active in 35 states.

Paddy Power also has an online gambling establishment and a horseracing wagering exchange in the state of New Jersey.

Under the regards to its most current deal, Paddy Power can increase its stake in Fan Duel to 80% after 3 years and 100% after five years.

The bet9ja's welcome offer is expected to close in the 3rd quarter this year.

US ruling opens way for sports wagering

14 May 2018