FuboTV Inc. is buying online sportsbooks, a deal that makes internet television the latest sports media company to invest in sports betting to attract and retain audiences.
The company said it was in the process of acquiring Vigtory Inc., a sportsbook that eventually plans to integrate into its TV platform.Vigtory is also available to people outside the FuboTV subscriber base.The terms of the clause were not disclosed. O.K.
FuboTV launched six years ago as a way for Americans to stream international football games, only to become the perfect alternative to traditional cable TV packages. It competes with other Internet-powered kits, including Alphabet Inc.’s YouTube TV, Walt Disney Co.’s Hulu + Live TV, and AT&T Inc.̵7;s AT&T TV Now.The company focuses more on international sports, especially football, than most of its competitors.
FuboTV shares rose 34 percent to $ 36.48 on Tuesday.
Several media companies are partnering with online sportsbooks, run by digital companies such as DraftKings Inc. and FanDuel Group, and operators of brick-and-mortar casinos. Sportsbooks are gaining in popularity as sports betting widens. The United States, which is a legal practice in 25 states and the District of Columbia, the US sports betting market is expected to reach $ 13.5 billion by 2025, according to the 38 states requiring sports betting to be legal. MGM Resorts International estimates