Gambling in the USA

FanDuel-Paddy Power Betfair merger officially complete

Published

7 years ago

July 13, 2018

Niji Narayan

Reading Time: < 1 minute

The merger between American daily fantasy sports brand FanDuel and British sports betting industry titan Paddy Power Betfair is officially complete now. The merger plan was announced two months ago. Paddy Power Betfair and FanDuel have officially now combined forces to create “the largest online sports destination in the United States.”

FanDuel and competitor DraftKings have insisted for years that their DFS offerings should not be defined as sports gambling, but since the Supreme Court’s reversal of PASPA, the companies have been less shy about entering this legal, regulated space. And FanDuel’s merger with Paddy Power Betfair is a massive leap forward on that front.

The merged company will be called FanDuel Group, with FanDuel CEO Matt King serving as CEO, an indication that all involved appreciate the established brand value of the FanDuel name.

And the timing could not be better. New Jersey Governor Phil Murphy signed legal sports betting in the state into law on June 11, meaning we are now at the end of the 30-day waiting period before online and mobile play can commence. Also, Betfair recently announced a long-term agreement to provide online, mobile, and retail sports betting products at Meadowlands Racetrack in NJ, and the FanDuel-branded sports book at Meadowlands opens this Saturday.

The FanDuel Group will be comprised of FanDuel, Betfair US, horse racing wagering brand and television network TVG, and DRAFT.

Source: njonlinegambling.com

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.