FuboTV cements sports betting intentions with Balto Sports acquisition

Live sports streaming platform fuboTV has taken its first steps into the online sports betting market after acquiring technology platform Balto Sports.

Balto Sports provides tools for the creation for fantasy sports games, with fuboTV planning to use a combination of its own proprietary technology and Balto Sports’ software to launch an offering on an initial free-to-play basis.

The financial details of the acquisition were not disclosed.

In October, fuboTV indicated that it was open to venturing into the gambling market and this was reinforced by the group’s Q3 results presentation, with the firm noting “significant synergies” between its existing customer base and those with a propensity to gamble.

David Gandler, fuboTV CEO, said the acquisition of Balto Sports would naturally facilitate the progression towards offering real-money wagering in the future.

Gandler said: “The acquisition of Balto Sports will initially 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’re excited to launch sports wagering, integrate it into our core offerings and deliver what we believe will be a truly ground-breaking live TV streaming platform to consumers,” he added.