As it plans to rise in the US online sports wagering market, the sports streaming service FuboTV has acquired fantasy sports supplier Balto Sports.
Using a combination of its own platform technology with Balto’s contest automation tools, FuboTV aims to introduce a free-to-play gaming offering.
The acquisition suggests that fuboTV will join Balto’s team as it expands in the US into both free-to-play gaming and online sports wagering, although full terms of the deal were not disclosed.
The co-founder and CEO of FuboTV, David Gandler, said: “As we said in our third-quarter earnings announcement last month, fuboTV sees the online wagering space as complementary to our sports-first live TV streaming platform.
“As we’ve previously expressed, one of our goals with wagering is to expand our total available market (TAM) by developing another important revenue stream for fuboTV, as we are doing with our growing ad sales business.
“The acquisition of Balto Sports will enable us to build a first-class, free to play experience that brings consumers the best games around live sports. From there, we see a natural progression to layer on real money wagering in regulated markets complementing fuboTV’s live streaming video for a highly engaging user experience within our platform.”