{"id":160986,"date":"2021-01-12T09:22:45","date_gmt":"2021-01-12T17:22:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=160986"},"modified":"2021-01-12T12:51:50","modified_gmt":"2021-01-12T20:51:50","slug":"fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/","title":{"rendered":"fuboTV, Eyeing Sportsbook Launch, Acquires Vigtory"},"content":{"rendered":"

Shares of online streaming service fuboTV (NYSE:FUBO) are soaring Tuesday after the company said it’s purchasing sports wagering firm Vigtory. The move is expected to aid the buyer’s effort to launch a web-based sportsbook at some point this year.<\/p>\n

\"fuboTV\"
A shot of fuboTV’s streaming platform. The company is buying Vigtory to forge into sports betting. (Image: The Verge<\/em>)<\/figcaption><\/figure>\n

Terms of the deal weren’t disclosed. New York-based fuboTV, which positions itself as a sports-first streaming television platform, said the transaction is slated to close in the current quarter.<\/p>\n

\n

Founded in 2019, Chicago-based Vigtory rolled out its mobile sportsbook offering last fall, targeting big money bettors with lower juice or \u201cvig.\u201d For example, if a Vigtory competitor, say BetMGM or DraftKings<\/a>, is offering -110 odds (bet $110 to win $100), the upstart bookmaker posts the same game at -105 or better.<\/p>\n<\/div>\n

Vigtory founder Sam Rattner and co-CEO Scott Butera, who joined the company last year following a stint at BetMGM, are joining fuboTV\u2019s gaming division as chief operating officer and president.<\/p>\n

Bigger Online, Streaming Push<\/h2>\n

Through a deal with Casino Queen, Vigtory has access to the fast-growing Iowa sports wagering market<\/a>\u00a0and hopes to be live in as many as five states over the course of this year and into 2022.<\/p>\n

\n

The fuboTV\/Vigtory deal is the latest partnership<\/a> between a media entity and a sports wagering company. For the buyer, the acquisition is part of a broader push into online betting. Citing Zion Market Research, fuboTV says online wagering will be a $155 billion industry in 2024, and the company is looking to leverage its December purchase<\/a> of Balto Sports to create a free gaming offering later this year.<\/p>\n<\/div>\n

The company plans to launch a free to play gaming app to all consumers. fuboTV plans to launch the standalone app and then integrated it into the fuboTV experience.\u00a0fuboTV plans to use both acquisitions to launch a sportsbook app, and eventually integrate the app into the company’s streaming service.<\/p>\n

The streaming provider recently revealed a preliminary view on its fourth-quarter results, noting it expects to have 545,000 subscribers for 2020, good for 72 percent year-over-year growth<\/strong>.<\/p>\n

Wild Ride for fuboTV Stock<\/h2>\n

News of the Vigtory transaction is helping fuboTV stock to a gain of 18 percent on volume that’s already nearly triple the daily average of this writing.<\/p>\n

That comes after a wild December ride for the name. Last month, the shares more than doubled, only to give back all of those gains and then some by the time 2020 drew to a close. Analysts are mixed on the stock.<\/p>\n

\n

In a note out today, Wedbush analyst Michael Pachter calls fuboTV’s Vigtory buy \u201can interesting opportunity,\u201d but points out it is “not a foregone conclusion that it will succeed in this endeavor.\u201d He has an \u201coutperform\u201d rating and a $40 price target on the shares.<\/p>\n<\/div>\n

That’s a kinder assessment than what Kerrisdale Capital laid out last month. On Dec. 30, that research firm said fuboTV stock was trading at a valuation \u201ccompletely unmoored from reality,\u201d and that investors shouldn’t expect the name to morph into the next DraftKings or Netflix.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of online streaming service fuboTV (NYSE:FUBO) are soaring Tuesday after the company said it’s purchasing sports wagering firm Vigtory. The move is expected to aid the buyer’s effort to launch a web-based sportsbook at some point this year. Terms of the deal weren’t disclosed. New York-based fuboTV, which positions itself as a sports-first streaming […]<\/p>\n","protected":false},"author":46,"featured_media":160987,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32093,1074],"tags":[],"acf":[],"yoast_head":"\nfuboTV Buying Vigtory to Broaden Streaming Sports Betting Offering<\/title>\n<meta name=\"description\" content=\"fuboTV extends sports wagering push with Vigtory aiming to bring sportsbook app to streaming television platform.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"fuboTV Buying Vigtory to Broaden Streaming Sports Betting Offering\" \/>\n<meta property=\"og:description\" content=\"fuboTV extends sports wagering push with Vigtory aiming to bring sportsbook app to streaming television platform.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-12T17:22:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-12T20:51:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/01\/fubo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"1050\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/\",\"url\":\"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/\",\"name\":\"fuboTV Buying Vigtory to Broaden Streaming Sports Betting Offering\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/01\/fubo.jpg\",\"datePublished\":\"2021-01-12T17:22:45+00:00\",\"dateModified\":\"2021-01-12T20:51:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"fuboTV extends sports wagering push with Vigtory aiming to bring sportsbook app to streaming television platform.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/fubotv-buying-vigtory-to-broaden-streaming-sports-betting-offering\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/01\/fubo.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/01\/fubo.jpg\",\"width\":1400,\"height\":1050,\"caption\":\"A shot of fuboTV's streaming platform. 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