Paddy Power in speak to merge with Fan Duel

16 May 2018

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

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

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

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

Merger deserted

It provides fantasy sport video 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 pick which contest they desire to go into, develop fantasy sports teams that do not breach a fantasy wage cap, and take part in head-to-head or multi-player contests.

The company, which was founded in 2009, is based in New york city and has about 400 workers.

A proposal to merge with competitors Draft Kings was deserted last year, after being obstructed by the Federal Trade Commission on the grounds that the combined company would manage a 90% market share.

Since the yohaig code Supreme Court ruling on 14 May Draft Kings has actually indicated its objective to enter the sports betting market.

Horseracing channel

the yohaig code Dublin-based betting company currently has an US 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 company has an online casino and a horse racing wagering exchange.

A merger with Fan Duel would give it access to millions of prospective sports wagering fans.

Neil Wilson, primary expert at markets.com, said betting companies were currently jockeying for position after the Supreme Court judgment.

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