Fubo Ramps Up Sports Betting Efforts

    • Fubo Gaming announced its first NFL team partnership with the New York Jets.
    • Its sportsbook is slated to launch in Q4.

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Fubo Gaming, a subsidiary of FuboTV, is making inroads on sports betting.

Ahead of its sportsbook launch in Q4, the gaming division announced its first NFL team partnership with the New York Jets on Wednesday, becoming the official sports betting partner of the club.

As part of the deal, Fubo will create a 7,000-foot-square Sportsbook Lounge in MetLife Stadium, set to debut during the 2021-22 season. The sportsbook will become the first legal sports betting partner to leverage the Jets’ new deal with data platform Sportradar.

Fubo Sportsbook has yet to launch, but the company is already setting the stage for its 682,000 streaming subscribers.

  • Last week, Fubo Gaming received its second state license, a Management Services Provider Certification from the Arizona Department of Gaming.
  • The company secured sports betting regulatory approval from the Iowa Racing and Gaming Commission for its sportsbook in August.
  • In March, the company acquired sports betting startup Vigtory.
  • Last December, FuboTV acquired Balto Sports, a tech startup that develops tools for fantasy sports.

FuboTV’s revenue tripled to a record $130.9 million in its latest earnings report, with advertising revenue jumping 281% to $16.5 million.

CEO David Gandler told CNBC he believes FuboTV can reach up to 5 million subscribers in the next five years.