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Fantasy Sports Companies are Eyeing Sports Betting

 

Fantasy Sports Companies are Eyeing Sports BettingNow that the U.S. Supreme Court has rules that states’ can legalize sports betting, the gambling industry is in chaos. Thus, there is a lot of money to be made and at the same time, a lot of uncertainties.  This is why Fantasy Sports Companies are Eyeing Sports Betting.

In addition, the gambling industry is turning into pandemonium because everyone is trying to get a piece of the pie. On the other hand, other sports industries are worried about the implications this could mean for them. Fantasy sports companies; DraftKing and Fanduel are amongst these companies.

This is because Sports Betting is a big chunk of their business despite the argument that fantasy sports is not gambling. Since the decision of the Supreme Court was made, they are now changing their position on the issue.

 

DraftKings looking to Enter the Sports Betting IndustryDraftKings looking to Enter the Sports Betting Industry

Now that the Supreme Court has made its ruling, fantasy sports providers intend to give more options to their players.  Jason Robins, the CEO of DraftKings.com said that they have been getting ready for legal sports betting since 2017.

Despite the stiff competition, DraftKings.com said it hopes to let its users bet on sports outcome and point totals.

"This is going to be a huge industry, and there will be a lot of competition, which is great for consumers," said Robins.

FanDuel in talks with Paddy Power

FanDuel in talks with Paddy PowerFanduel.com, the second largest fantasy sports company in the world is currently talking to Paddy Power about combining its U.S. assets. This is because Paddy Power is interested in the American Gambling market after Monday’s announcement.

Paddy Power confirmed that it is regarding a potential combination of the Group's US business and FanDuel.   Their aim is to create a combined business to target the prospective US sports betting market.  A deal with FanDuel would enable Paddy Power to roll out their services faster to the US market.

Several Sports Betting Software companies and providers are also looking to make deals with U.S. based sports and gambling companies.

Gambling analysts are expecting to see several more similar announcements in the next few months. 

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