27 Jul 08:00 AM
American sports streaming provider FuboTV has introduced new features that enable a more interactive experience for sports streamers. “Perfect Pick’ems”, for example, are free contests for users who want to compete against each other by predicting the outcome of live games before they start. By earning points and being ranked on a leaderboard, users can compare their success with friends and family.
In selected US states with loosened sports gambling rules such as Arizona or Iowa, fans can make wagers with real money. By scanning a QR code appearing on the FuboTV platform, users are redirected to FuboTV’s betting app Fubo Sportsbook. Hence, FuboTV is benefitting from synergies between its streaming and betting business in addition to improving the interactivity of their streaming product.
In the bigger picture, the likelihood of further US states and authorities in other countries loosening restrictions on sports gambling is high, given the industry’s high potential of becoming a new source of tax revenue for governments. Since 2018, when a ruling of the Supreme Court cleared the way for states to legalize gambling, Americans have bet $123bn on sports, generating $1.3bn in state and local taxes (The Guardian, 2022).
Combined with the opportunity for income streams and higher interactivity, it is a matter of time until established broadcasters will follow with similar integrations. In fact, they are already exploring such solutions – as according moves made by Disney’s ESPN indicate (Financial Times, 2022).
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