Paddy Power Betfair Planning to Purchase FanDuel

Online betting giant Paddy Power Betfair is reportedly planning on purchasing daily fantasy sports group FanDuel in the wake of the U.S. Supreme Court throwing out a sportsbetting ban in the country.

Multiple sources have leaked news of the discussions, which have stated that the negotiations are in the advanced states. FanDuel was once valued at $1 billion, but the negotiations for a purchase price are likely to come in far below that. FanDuel has indicated that they'll be launching a sportsbetting service if the ban was lifted. The company has conducted surveys that a large portion of FanDuel's customers would bet on sports if possible.

That large client base likely appeals to Paddy Power Betfair, as they look to expand operations in America. The fantasy sports group is active in many states, with players able to build lineups on desktop and mobile devices.

We'll be following the progress of negotiations and will update readers as we learn more.

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bgsharpe
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21 May 2018 - 2:56pm
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Yeah I think that would be quite a move from Paddy-Betfair if they succeed in finishing that deal, could of be a huge boost for them in what would looks to be an open sportsbetting US market.