![]() ![]() If a deal goes ahead, it is likely to be worth considerably more than the $48m (£35.6m) that Paddy Power paid for FanDuel’s smaller rival Draft last year.įanDuel, which was blocked from merging with its main competitor DraftKings by the US competition regulators last year, has been valued at $1bn by some analysts. Such websites have slipped through the net of the US ban on sports betting because they are seen as games of skill rather than of chance but an alliance would help Paddy Power push betting products through the site. Paddy Power confirmed it was already in talks with FanDuel “to create a combined business to target the prospective US sports betting market”.įanDuel is a web-based fantasy sports game with 6 million registered users, who can put together virtual teams in sports such as American football and win cash prizes based on their success against other players. While US states will have to draw up their own gambling laws, a process that could take years in some cases, the shift in the US landscape is expected to encourage British firms to seek takeovers or become targets themselves. Many analysts believe London-listed firms are well placed to grab a slice of the US market, where some estimates say nearly $150bn (£111bn) in illegal wagers are placed every year.
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