FuboTV plans to use Balto Sports software and expertise to expand in both free-to-play gaming and sports wagering.
US.- The sports streaming service FuboTV has acquired fantasy sports supplier Balto Sports as it plans to expand in the US online sports wagering market.
FuboTV plans to launch a free-to-play gaming offering, using a combination of its own platform technology with Balto’s contest automation software.
The acquisition means Balto’s team will join fuboTV as it expands into both free-to-play gaming and online sports wagering in the US.
FuboTV’s co-founder and CEO, 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.”
Last year, FuboTV signed a deal with gaming giant FanDuel, paving way for the integration of its betting data into fuboTV’s streaming platform.