paddy-power-betfair-buys-fantasy-sports-website-fan-duel

Paddy Power Betfair buys dream sports website Fan Duel
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23 May 2018
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Gambling firm Paddy Power Betfair has actually agreed to merge with the US dream sports wagering website Fan Duel.
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It wishes to target the US sports wagering market that is set to open after a court decision.

In May, the US Supreme Court overturned 1992 legislation that prohibited sports betting in most states.
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Fan Duel, which was founded in Scotland, permits sports fans to bet on dream sports leagues and contests in American sports.

The bet9ja's welcome offer

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

Existing Fan Duel financiers will own 39%.

The Dublin-based business will control business, which will become a subsidiary.

Paddy Power Betfair employer Peter Jackson stated the mix would develop the yohaig code "largest online service" in the yohaig code US gaming market.
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" [We will have] a big sports-focused customer base and an extensive across the country footprint," he stated.

the yohaig code punters

Fan Duel lets its clients bank on fantasy sport games, based around NFL American Football, NBA basketball, MLB baseball and NHL ice hockey.
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There are an estimated 30 million adult fantasy sports players in The United States and Canada.

Users select dream sports groups utilizing a dream spending plan, and play head-to-head or multi-player contests online.

an entry charge for each contest and complete for money prizes.

The landscape

Paddy Power Betfair entered the US fantasy sports market last year with the acquisition of Draft, an US dream sports website, for $48m (₤ 35m).
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the yohaig code Dublin-based firm currently has an US division, that includes the TVG Network, a horseracing TV channel and an online betting network which is active in 35 states.
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Paddy Power likewise has an online casino and a horseracing wagering exchange in the state of New Jersey.

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

The deal is anticipated to close in the third quarter this promotion code year.

US ruling opens way for sports betting

14 May 2018