- Iowa becomes the first state to get access to new Fubo Gaming product
- US gambling revenues to surpass US$10bn by 2028
Fubo Gaming, the gambling subsidiary division of US streaming platform FuboTV, has announced the launch of its first mobile sportsbook product.
Fubo Sportsbook allows users to bet on thousands of professional and collegiate sporting events, with direct integration into FuboTV’s live TV streaming platform.
The mobile betting platform includes a new ‘watching now’ second screen feature, which allows users to view live betting data on Fubo Sportsbook based on the content they are live streaming via FuboTV.
Fubo Gaming says that it plans to introduce further innovative features to the platform, subject to regulatory approval, which are designed to create a personalised experience for the user.
The gambling play from the FaceBank-owned platform comes as a recent study from Gabelli Securities and the US Census Bureau found that US sports betting revenue is expected to grow from a projected US$2.1 billion in 2021 to US$10.1 billion in 2028. Additionally, recent research from TDG reveals that 54 million households will be broadband-only by 2025, a 42 per cent increase from 2020.
Fubo Sportsbook has been initially launched in Iowa via a market agreement with Casino Queen, with more US states expected to come online in due course.
Fubo Gaming also has similar market access deals in Pennsylvania with the Cornish Companies, with Caesar’s Entertainment in Indiana and New Jersey, as well as in Arizona with Ak-Chin Indian Community. There, Fubo Gaming has also been approved as a certified Management Services Provider by the Arizona Department of Gaming (ADG).
In addition, the betting firm is an authorised betting operator and partner for the US stock car racing series Nascar. It also holds official gambling partner designation with the National Football League’s (NFL) New York Jets.
“FuboTV’s vision to define a new category of interactive sports and entertainment television takes another major step forward with the launch of Fubo Sportsbook,” said David Gandler, co-founder and chief executive of FuboTV.
“It’s important to realise that Fubo Sportsbook is not simply an add-on product to FuboTV, but a product synced with the live TV streaming experience. We expect this integration will create a flywheel that improves engagement and retention, as well as drives advertising revenue.
“In the coming months, we plan to further integrate our sportsbook with FuboTV to create a comprehensive and engaging TV and wagering experience.”