CHICAGO—Fubo Gaming has announced that it has officially launched its mobile sports betting offering Fubo Sportsbook in Iowa, a move that will allow Iowans aged 21 years or older to bet on thousands of professional and collegiate events.
The mobile sports betting platform Fubo Sportsbook is integrated into the streaming platform fuboTV, an industry-first integration of an owned-and-operated sports wagering platform with a live TV streaming experience, the company says.
Fubo Sportsbook is also launching with Watching Now, which leverages fuboTV’s first-party user data to allow users to instantly view wagering content based upon what they are streaming - even as they change the channel.
Fubo Gaming, a subsidiary of fuboTV Inc., said it intends to continue to add features, subject to regulatory approval, that will further integrate wagering into the fuboTV platform, to create an even more immersive and personalized experience.
“We’re thrilled to launch Fubo Sportsbook and begin to bring U.S. sports fans a next-level interactive viewing and betting experience — one entirely tailored to the sports and entertainment they care about most,” said Scott Butera, president of Fubo Gaming. “As the industry continues to expand, it is increasingly important to meet sports fans’ growing demand for personalized and immersive experiences. By integrating with fuboTV, we aim to make that a reality.”
The launch comes at a time when many TV companies and leagues are exploring sports wagering as part of their sports coverage. A study by Gabelli Securities and the US Census Bureau has estimated that U.S. sports betting revenue is expected to grow from a projected $2.1 billion in 2021 to $10.1 billion in 2028.
“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 CEO of fuboTV. “This is a pivotal moment not just for fuboTV, but for the U.S. sports wagering and entertainment industries because it is the first time the two are truly coming together in one ecosystem. It’s important to realize 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.”
Fubo Gaming received regulatory approvals via a market agreement with Casino Queen to go live with mobile and/or retail betting operations within the state of Iowa.
The company has also obtained market access agreements in four other states, including Pennsylvania via The Cordish Companies, Indiana and New Jersey via Caesars Entertainment Inc. and Arizona via the Ak-Chin Indian Community, where it also has been granted a Management Services Provider Certification from the Arizona Department of Gaming (ADG).
The company expects to announce the launch of Fubo Sportsbook in additional markets in 2021 and during 2022, subject to requisite regulatory approvals.
The company also has partnerships with NASCAR, and the New York Jets (NFL) and, as an Authorized Gaming Operator (AGO) with the NBA, a multi-year agreement with the Cleveland Cavaliers (NBA).
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