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Paddy Power in speak with combine with Fan Duel

16 May 2018

Gambling firm Paddy Power Betfair has said it is in talks over a merger in the US with dream sports website Fan Duel.

Talks centre around combining its US operation with Fan Duel to produce a business to "to target the prospective US sports betting market".

It comes as the American Supreme Court overturned 1992 legislation that banned sports wagering in the majority of US states.

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

Merger deserted

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

Players select which contest they want to enter, develop dream sports groups that do not breach a dream income cap, and participate 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 combine with Kings was deserted in 2015, after being obstructed by the Federal Trade Commission on the premises that the combined firm would control a 90% market share.

Since the Supreme Court judgment on 14 May Draft Kings has indicated its objective to get in the sports gambling market.

Horseracing channel

The Dublin-based betting company currently has an US division, that includes the yohaig code 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 provide it access to countless potential sports betting fans.

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

"Fan Duel rival Draft Kings has currently said it will go into the sports wagering market and there is some sense that regional incumbents may have the ability to acquire considerable market share before UK and European operators get a possibility to mobilise their forces," he stated.