Paddy Power in talk with combine with Fan Duel
16 May 2018
Gambling company Paddy Power Betfair has said it remains in talks over a merger in the US with fantasy sports site Fan Duel.
Talks centre around combining its US operation with Fan Duel to develop a service to "to target the prospective US sports betting market".
It comes as the American Supreme Court reversed 1992 legislation that prohibited sports wagering in most US states.
Fan Duel permits sports fans to bet on fantasy sports leagues and contests.
Merger deserted
It offers dream sport gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult dream sports gamers in North America.
Players choose which contest they want to enter, develop fantasy sports groups that do not breach a fantasy salary 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 employees.
A proposition to merge with rivals Draft Kings was abandoned last year, after being blocked by the Federal Trade Commission on the premises that the combined firm would control a 90% market share.
Since the yohaig code Supreme Court ruling on 14 May Draft Kings has signified its intent to go into the sports betting market.
Horseracing channel
The Dublin-based gambling firm already has a United States department, which consists of 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 potential sports wagering fans.
Neil Wilson, primary analyst at markets.com, said betting companies were already jockeying for position after the Supreme Court judgment.
"Fan Duel competing Draft Kings has currently said it will go into the sports betting market and there is some sense that regional incumbents may have the ability to gain substantial market share before UK and European operators get a possibility to mobilise their forces," he said.
