Recent developments in the US sports betting laws have opened up a wide window of opportunity in an industry that is slowly erupting across state lines. Just last month, DraftKings expanded off the back of a change in laws – with data showing an immediate surge in users in new York, and turning the heads of various analysts.
Fubo Gaming, a subsidiary of sports streaming platform FuboTV (NYSE: FUBO) – has officially secured market access agreements in Mississippi, Louisiana, and Missouri through Ceasars Entertainment. The company’s sportsbook is now active across 10 states since its launch in the fourth quarter of 2021.
Fubo sportsbook is a first-of-its-kind integrative betting platform; allowing avid sports fans to participate in wagering activity that is built into the live TV streaming experience. The integration of the mobile Sportsbook app with FuboTV transforms ordinary viewing into active participation. Proprietary features include ‘Watching Now’; a service that recommends bets based upon first-party data.
For investors, the US sports betting industry is very much in its fledgling phase. With states slowly following on the path of legalization – FUBO stock is starting to look very attractive at its current low pricing. On the grounds of competition, DraftKings dominates the market, but Fubo’s betting and TV integration is a unique feature that should definitely boost revenue in the coming months. The stock is down 75% year-on-year – but if US betters take to the Fubo Sportsbook, there could be a sharp change of winds.
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Oliver is a financial writer and analyst specialising in the US stock market, with years of personal experience in understanding micro/macroeconomic structures, market trends and fundamental analysis.