Paddy Power in talk with combine with Fan Duel
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16 May 2018

Gambling company Paddy Power Betfair has said it is in talks over a merger in the US with fantasy sports site Fan Duel.

Talks centre around integrating its US operation with Fan Duel to produce an organization to "to target the prospective US sports wagering market".

It comes as the American Supreme Court reversed 1992 legislation that banned sports wagering in most US states.

Fan Duel enables sports fans to gamble on fantasy sports leagues and contests.
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Merger abandoned
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It provides fantasy sport video gaming around NFL American 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 pick which contest they wish to enter, sports teams that do not breach a dream wage cap, and engage in head-to-head or multi-player contests.

The business, which was founded in 2009, is based in New York and has about 400 staff members.

A proposal to merge with competitors Draft Kings was abandoned in 2015, after being obstructed by the Federal Trade Commission on the grounds that the combined company would control a 90% market share.
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Since the Supreme Court judgment on 14 May Draft Kings has signalled its objective to enter the sports betting market.
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Horseracing channel
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The Dublin-based betting company already has a United States division, that includes 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 business has an online casino and a horse racing betting exchange.
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A merger with Fan Duel would bet9ja's welcome offer it access to millions of potential sports wagering fans.
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Neil Wilson, primary expert at markets.com, stated wagering firms were already jockeying for position after the Supreme Court ruling.

"Fan Duel competing Draft Kings has currently said it will get in the sports betting market and there is some sense that regional incumbents might be able to get significant market share before UK and European operators get a chance to mobilise their forces," he said.