- Legal States
Stoyan Todorov November 4, 2021 3 min read
FuboTV CEO David Gandler Comments on Fubo Sportsbook Launch in Iowa
FuboTV has finally launched the Fubo Sportsbook in Iowa, making a foray into the sports betting vertical. After launching its gaming division earlier this year, Fubo finally has something to show up for. The company is confident that it brings together the best of the sports world together, having achieved great engagement with fans through its digital broadcast channels and now merging the viewing and betting experiences closer together.
In the words of fuboTV CEO David Gandler, the company is simply expanding its interactive entertainment ambitions. In an interview commenting on the launch, Gandler detailed that fuboTV would not be pushing aggressively in the vertical, but rather focus on long-term growth.
Meanwhile, the Fubo Sportsbook comes with the “Watching Now” function, which allows consumers to instantly jump in on the action by viewing the sporting event they wish to back up. The company obtained a license back in September, issued by the Iowa Racing and Gaming Commission. The commission deemed Fubo a suitable applicant owing to the company’s partnership with Casino Queen.
Fubo Gaming president Scott Butera welcomed the launch and said that Fubo Sportsbook was thrilled to be part of the US sports betting market and interactive wagering experience. He added, “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.”
This isn’t the only state where Fubo Gaming has intentions to launch. It has similarly secured agreements with The Cordish Companies in Pennsylvania, as well as several partnerships, including the Ak-Chin Indian Community in Arizona and with Caesars for Indiana and New Jersey.
Gandler Discusses FuboTV’s Betting and Streaming Ambitions
Gandler explained that fuboTV was happy to continue and generate revenue through advertising and subscriptions, while it methodically developed its betting product and offer. The company is already trying to determine whether betting could outpace in terms of how profitable the segment is, but this remains to be determined.
However, fuboTV already has good products that would synergize well with the betting vertical, including the free-to-play options that it has been putting in place. Interest in sports betting is linked directly to another fuboTV product, which is the streaming service of sports events.
FuboTV is also able to offer targeted betting products based on what an individual sports fans/bettor’s viewing sports preferences are. Through these synergies, fuboTV is hoping that it can further slash the acquisition cost for new customers. Commenting further on the current market, Gandler added, “As you know, more of the population watch TV than bets. We want to make sure that we’re continuing to drive subscribers onto the platform and then isolating those that we feel would be interested in gamifying their video experience.”
Fubo is cognizant of the new challenges ahead, though, as more companies are entering the streaming game. The company can further seek to improve its offer by offering TNT or Bally Sports stations which could boost its overall footprint and reach.
Stoyan holds over 8 years of esports and gambling writing experience under his belt and is specifically knowledgeable about developments within the online scene. He is a great asset to the GamblingNews.com team with his niche expertise and continual focus on providing our readers with articles that have a unique spin which differentiates us from the rest.
Sports November 4, 2021