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Paddy Power in speak to merge with Fan Duel

16 May 2018

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

Talks centre around integrating its US operation with Fan Duel to develop a service to "to target the potential US sports betting market".

It comes as the American Supreme Court overturned 1992 legislation that banned sports betting in a lot of US states.

permits sports fans to gamble on dream sports leagues and contests.

Merger abandoned

It provides fantasy sport gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult fantasy sports players in North America.

Players choose which contest they desire to go into, develop fantasy sports groups that do not breach a fantasy wage cap, and participate in head-to-head or multi-player contests.

The business, which was established in 2009, is based in New york city and has about 400 workers.

A proposition to merge with competitors Draft Kings was deserted in 2015, after being obstructed by the Federal Trade Commission on the premises that the combined company would manage a 90% market share.

Since the Supreme Court ruling on 14 May Draft Kings has indicated its intention to go into the sports betting market.

Horseracing channel

the yohaig code Dublin-based gambling company currently has an US division, 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 betting exchange.

A merger with Fan Duel would provide it access to millions of prospective sports wagering fans.

Neil Wilson, primary analyst at markets.com, stated wagering companies were currently jockeying for position after the Supreme Court ruling.

"Fan Duel rival Draft Kings has already stated it will enter the sports wagering market and there is some sense that regional incumbents may have the ability to get significant market share before UK and European operators get a chance to mobilise their forces," he stated.