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Paddy Power in speak to combine with Fan Duel

16 May 2018

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

Talks centre around combining its US operation with Fan Duel to create an organization to "to target the potential US sports wagering market".

It comes as the American Supreme Court overturned 1992 legislation that prohibited sports betting in most US states.

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

Merger abandoned

It offers dream sport gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult fantasy sports players in The United States and Canada.

Players pick which contest they want to enter, construct fantasy sports groups that do not breach a fantasy income cap, and participate in head-to-head or multi-player contests.

the yohaig code company, which was founded in 2009, is based in New york city and has about 400 staff members.

A proposition to combine with rivals Draft Kings was abandoned in 2015, after being obstructed by the Federal Trade Commission on the premises that the yohaig code combined company would control a 90% market share.

Since the Supreme Court judgment on 14 May Draft Kings has signalled its objective to go into the sports betting market.

Horseracing channel

The firm already has an US department, 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 bet9ja's welcome offer it access to millions of potential sports betting fans.

Neil Wilson, chief analyst at markets.com, said wagering companies were already jockeying for position after the Supreme Court ruling.

"Fan Duel competing Draft Kings has already stated it will enter the sports wagering market and there is some sense that local incumbents may be able to gain considerable market share before UK and European operators get a possibility to mobilise their forces," he said.