in speak with merge with Fan Duel
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16 May 2018
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Gambling company Paddy Power Betfair has stated it is in talks over a merger in the US with fantasy sports website Fan Duel.

Talks centre around integrating its US operation with Fan Duel to produce a business to "to target the prospective US sports wagering market".
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It comes as the American Supreme Court overturned 1992 legislation that banned sports betting in many US states.
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Fan Duel allows sports fans to gamble on dream sports leagues and contests.
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Merger deserted
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It uses fantasy sport gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult fantasy sports players in The United States and Canada.
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Players choose which contest they wish to go into, build fantasy sports teams that do not breach a dream salary cap, and engage in head-to-head or multi-player contests.

The company, which was established in 2009, is based in New york city and has about 400 workers.

A proposition to combine with competitors Draft Kings was deserted last year, after being blocked by the Federal Trade Commission on the grounds that the combined firm would manage a 90% market share.

Since the Supreme Court ruling on 14 May Draft Kings has signalled its intent to go into the sports betting market.

Horseracing channel

The Dublin-based gambling firm currently has a United States division, that includes the TVG Network, a horseracing TV channel and online wagering network which is active in 35 states.

And in the state of New Jersey, the company has an online casino and a horse racing wagering exchange.
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A merger with Fan Duel would provide it access to countless possible sports wagering fans.
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Neil Wilson, primary analyst at markets.com, said wagering firms were currently jockeying for position after the Supreme Court ruling.

"Fan Duel competing Draft Kings has currently stated it will enter the sports wagering market and there is some sense that regional incumbents may be able to acquire significant market share before UK and European operators get an opportunity to mobilise their forces," he said.
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