paddy-power-in-talk-with-merge-with-fan-duel

Paddy Power in speak with merge with Fan Duel

16 May 2018

Gambling firm Paddy Power Betfair has said it is in talks over a merger in the US with fantasy sports site Fan Duel.
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Talks centre around combining its US operation with Fan Duel to develop an organization to "to target the yohaig code potential US sports wagering market".
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It comes as the American Supreme Court overturned 1992 legislation that prohibited sports wagering in a lot of US states.
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Fan Duel enables sports fans to bet on dream sports leagues and contests.
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Merger deserted
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It uses dream sport video gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult fantasy sports players in the yohaig code United States and Canada.

Players select which contest they want to get in, construct fantasy sports groups that do not breach a dream salary cap, and engage in head-to-head or multi-player contests.
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The company, which was founded in 2009, is based in New York and has about 400 employees.

A proposal to merge with rivals Draft Kings was abandoned in 2015, after being blocked by the Federal Trade Commission on the that the combined firm would control a 90% market share.
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Since the Supreme Court judgment on 14 May Draft Kings has signified its objective to get in the sports gambling market.

Horseracing channel

The Dublin-based gambling firm already has a United States division, which consists of the TVG Network, a horseracing TV channel and online betting network which is active in 35 states.
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And in the state of New Jersey, the company has an online gambling establishment and a horse racing wagering exchange.
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A merger with Fan Duel would give it access to countless potential sports betting fans.

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

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