When it was launched, FuboTV set out to be the go-to streaming platform for sports and has found a huge following in the past five years. It started providing all sorts of sports coverage in 2017 after dipping its toes with soccer and has continued to grow ever since.
However the platform is prepared to take its services to the next level and aims to become part of the sports gambling scene in the U.S. in a pattern that only promises to expand larger. The company announced Monday that it is in the process of buying Balto Sports as a stepping stone towards greater integration of sports betting.
In 2018, Balto Sports was co-founded as a website to allow users to set up fantasy sports contests by Nick Montana, son of former NFL quarterback Joe Montana. Over the years, it has earned considerable financial support, which has helped it to improve its software, automation and marketing. FuboTV plans to exploit this breakthrough to launch free-to-play games and maybe even become a full-blown sportsbook eventually.
A statement, released by David Gandler, co-founder and CEO of FuboTV, explains that the launch of a real-money sportsbook would ultimately be the company’s “natural progression,” adding, “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. We believe there are significant synergies between consumers who enjoy wagering and our subscribers who enjoy streaming live sports, creating a flywheel opportunity.”
He expects FuboTV to take a methodical and realistic creation approach, saying: “We will be strategic in our approach to wagering as we consider and evaluate different opportunities and will adjust our plans accordingly. We’re excited to launch sports wagering, integrate it into our core offerings and deliver what we believe will be a truly ground-breaking live TV streaming platform to consumers.”
This is not the first time FuboTV has discussed links with the industry of sports gambling. Since last year when it began carrying betting data from the sportsbook, it has been a partner with FanDuel. It also has VSiN and other gambling-related programming for sports.
After the acquisition is finalised, Balto’s team will not totally vanish. It will be added to the roster of FuboTV and is intended to be “instrumental” in the launch of free-to-play games by the company. As the broadcaster has over 455,000 paying viewers regularly tuning in to’ tens of thousands of live sporting events’ each year the latest service will attract a lot of coverage.