paddy-power-betfair-buys-fantasy-sports-site-fan-duel

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Paddy Power Betfair purchases dream sports site Fan Duel
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23 May 2018
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Gambling company Paddy Power Betfair has accepted combine with the US fantasy sports wagering Duel.

It wants to target the US sports wagering market that is set to open after a court choice.

In May, the US Supreme Court reversed 1992 legislation that banned sports betting in the majority of states.

Fan Duel, which was founded in Scotland, enables sports fans to bet on dream sports leagues and contests in American sports.

The deal

Under the agreement, Paddy Power Betfair will include its existing US possessions worth $612m along with $158m of money to take a 61% stake in the yohaig code combined business.

Existing Fan Duel financiers will own 39%.
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The Dublin-based business will manage the organization, which will end up being a subsidiary.

Paddy Power Betfair employer Peter Jackson said the combination would create the "biggest online service" in the US betting industry.

" [We will have] a large sports-focused customer base and a substantial across the country footprint," he stated.
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the yohaig code punters
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Fan Duel lets its consumers wager on dream sport games, based around NFL Football, NBA basketball, MLB baseball and NHL ice hockey.

There are an approximated 30 million adult fantasy sports gamers in The United States and Canada.

Users select fantasy sports teams using a dream budget plan, and play head-to-head or multi-player contests online.

Players pay an entry charge for each contest and complete for prize money.

The landscape

Paddy Power Betfair entered the US fantasy sports market last year with the acquisition of Draft, a United States dream sports website, for $48m (₤ 35m).

The Dublin-based company already has a United States division, that includes the yohaig code TVG Network, a horseracing TV channel and an online betting network which is active in 35 states.
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Paddy Power also has an online casino and a horseracing betting exchange in the yohaig code state of New Jersey.

Under the regards to its latest deal, Paddy Power can increase its stake in Fan Duel to 80% after three years and 100% after five years.

The bet9ja's welcome offer is expected to close in the 3rd quarter this promotion code year.
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