American streaming television company FuboTV is the latest sports media company to invest in sports betting. According to the latest sports News Coverage, they are in the process of acquiring a new start up gambling operator. Thus, when the deal is done and FuboTV Buys Vigtory Online Sportsbook, they will launch their sportsbook will this year.
The decision to buy Vigtory Inc. is because they are looking to invest in sports wagering. This is because they want a new way to add and retain more clients. However, the deal is not yet final because they are still waiting to finalize certain closing condition.
FuboTV Buys Vigtory Online Sportsbook for their Sports Betting Platform
For FuboTV, the announcement came at a crucial time leading to a 34% jump in their stock prices (NYSE: FUBO). However, the terms of the purchase were not made available as the acquisition agreement is still subject to its execution. Once thing that is known is that, Scott Butera of Vigtory will become the COO of the FuboTV gaming division. Furthermore, Sam Rattner the founder of Vigtory will also have a position as the president of their gaming division.
According to sports forums, they do expect the deal to close by the first quarter of 2021.
When that happens, FUBO TV intends to leverage the Sportsbook platform of Vigtory. Along with their digital gaming assets and gambling technology, they plan on creating a sports betting experience for their customers. Of course, their online sportsbook will be available directly thru their sports streaming platform.
Another advantage of purchasing Vigtory is that they are working on getting access to the gambling market in the U.S. Furthermore, they already have an agreement with Casino Queen in Iowa. Thus, FuboTV is getting much more than just an online sportsbook.
While FuboTV is only 6 years old, it has become the foreign streaming soccer provider of choice for American viewers. This is because it is a popular alternative to television and competes on a smaller scale against other streaming providers. However, they are not the first nor the last media company to team up with online sportsbooks.
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