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Fubo Sportsbook Launches Sportsbook in Iowa

Fubo is a streaming service that focuses on the distribution of live sports. Less than a year after announcing their gaming division, Fubo is now entering the sports betting market with the launch of Fubo Sportsbook in the state of Iowa. Fubo TV CEO David Gandler believes that it is a milestone for the company as it expands its interactive entertainment.

Fubo offers its consumers more than 100 live channels on their platform, which also includes regional sports networks. Fubo does not want to rush as the sports betting industry has many rules and regulations the company must abide by. This will push the process at a steady pace as they want to stay relevant in the industry.

Fubo Sportsbook will be more than a betting platform as they want to accommodate the United States growing demand for interacting through an industry-first integration of an owned-and-operated sports wagering platform with a live TV streaming experience. Fubo is launching with Watching Now, which leverages fuboTV’s first-party user data to allow passive viewers to be more engaged as they can view wagering content even when changing the channel.

Fubo, upon regulatory approval, wants to make a more immersive and personalized experience for each customer that uses their product.

We’re thrilled to launch Fubo Sportsbook and begin to bring U.S. sports fans a next-level interactive viewing and betting experience — one entirely tailored to the sports and entertainment they care about most…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.

Scott Butera, president of Fubo Gaming

Industry Will Continue Growing Exponentially

Streaming establishing a market within the United States, Fubo’s intersection of two different markets with sports gambling and digital sports entertainment, the sports industry will continue to grow at an exponential rate. Sports betting revenue is expected to grow from a projected $2.1 billion in 2021 to $10.1 billion in 2028 according to a study by Gabelli Securities and the US Census Bureau. Another study by TDG portrays that 54 million households will be broadband-only by 2025, a 42% increase from 2020.

With Fubo integrating two different markets continuing to expand their horizon, competitors that offer live sports on their platform may have a hard time adjusting. Even though Fubo is 2.5 million subscribers behind Hulu and YouTube TV in the industry, Hulu’s subscriber numbers shrank in quarter 2, while YouTube TV and Roku are fighting over distribution rights.

According to the data released by Fubo, 50 percent of their consumer base is interested in wagering. In August, the company had approximately 700,000 subscribers, and the company believes that it can reach the 5 million subscriber mark within the next five years.

Fubo gaming has received regulatory approvals with a market agreement with Queen Casino as the division can go live in Iowa with a mobile app and can establish retail betting locations in gaming facilities across the state. However, Fubo will have a lot of competition in the state as Barstool Sportsbook just launched in the state on Tuesday. With the two most recent launches in Iowa taking place, the state will be home to eighteen different online sportsbooks.

Fubo is looking to expand as they have gained early access in Arizona, Indiana, New Jersey, and Pennsylvania. Fubo also has partnerships with the Cleveland Cavaliers, New York Jets, and NASCAR.

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