FuboTV Buys Sports Betting Company Vigtory

betting


The publicly-traded sports streaming service FuboTV has reached an agreement to buy the sports betting company Vigtory to make it the foundation to launch a FuboTV sportsbook this year, a press statement notes. The financial terms of the acquisition weren’t disclosed.

FuboTV is strategically looking to use Vigtory’s sportsbook platform to develop a betting experience for its sports streaming customers. Vigtory is notably getting acquired after just roughly two years of existence, founded in 2019 by entrepreneur Sam Rattner and co-led by Scott Butera, a former MGM executive.

After going public in October 2020, FuboTV has set its eyes on strategic expansion and seen sports betting as a way to do that. The company has an existing customer base of over 450,000 subscribers that it hopes to attract into sports betting. 

FuboTV says it’ll launch a sportsbook app for customers to place wagers on varieties of sports and cash in their winnings this year. It’ll integrate the app into its live-streaming platform to enable an easy experience for customers.

FuboTV debuted on the public markets in October 2020 with a market cap shy of $700 million. Now just a few months later, the company sports a market cap of $2.4 billion, signaling positive sentiment from investors towards the company.





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