fuboTV announced that they have acquired Balto Sports, a Y-Combinator company, that develops tools for users to organize and play fantasy sports games.
David Gandler, co-founder and CEO, fuboTV, commented, “The acquisition of Balto Sports will enable us to build a first class, free to play experience that brings consumers the best games around live sports. From there, we see a natural progression to layer on real money wagering in regulated markets complementing fuboTV’s live streaming video for a highly engaging user experience within our platform. We will be strategic in our approach to wagering as we consider and evaluate different opportunities and will adjust our plans accordingly. We’re excited to launch sports wagering, integrate it into our core offerings and deliver what we believe will be a truly groundbreaking live TV streaming platform to consumers.”
In June, Gandler said that “there’s probably a play for us beyond just working with wagering companies on the marketing side of the business, where we drive potential wagering customers to their platforms. Owning our own technology stack allows us to think creatively about which direction we’d like to go.”
In connection with the deal, Balto’s team will join fuboTV to help tackle the online sports wagering market, which is expected to reach $155 billion by 2024 according to Zion Market Research.