LSB Feature: FuboTV Plans To Enter The Sports Betting Market

FuboTV announces to its investors plans to enter the sports betting market.
Several television networks have connections with sports betting.
Fax Sports and ESPN incorporate sports betting in their programs.

NEW YORK – FuboTV has just announced its foray into the sports betting world and it is an example of the trend that is happening. Media outlets and sports betting have begun to have a natural connection.

FuboTV follows the likes of SportsGrid by adding sports betting networks to its offerings, further showing that sports betting has become a normal thing in media.

Not only that, but major sports networks like ESPN and Fox Sports have incorporated sports betting naturally into their programming. Sports betting has become a new source of entertainment in itself, and the media has taken note.

FuboTV And Sports Betting

Starting with FuboTV, the live streaming entertainment company has just released there 2020 Q3 results and in the presentation, the company expressed to its investors the drive to incorporate legal sports betting to its offering.

“Our successful public offering in October demonstrated confidence in fuboTV’s strategy, and investor excitement has continued to grow,” said Edgar Bronfman Jr., executive chairman, fuboTV. “We believe fuboTV sits firmly at the intersection of three megatrends: the secular decline of traditional TV viewership, the shift of TV ad dollars to connected TVs and online sports wagering, a market which we intend to enter. As a result, we believe our growth opportunities are numerous. Our optimism in the future of fuboTV and the live TV streaming business has never been stronger.”

Following the report of the results, fuboTV’s stock rose with investors excited to see the future of fuboTV with the upcoming sports betting plan.

FuboTV’s foray into sports betting may mirror SportsGrid’s deal with Sling TV. Like fuboTV, SportsGrid is a live streaming TV service that supplies several networks. Adding 24-hour sports betting network to fuboTV could be a major addition and draw for sports betting fans.

With the continued growth of states with legal sports betting, sports betting will continue to grow in pop culture. More networks will want to provide sports betting programs, and even sportsbooks have gotten in on the process as well.

Earlier in the year, popular sportsbook FanDuel signed a multi-year deal with Pat McAfee to host his Pat McAfee show. The sports talk show is now filmed in a FanDuel studio, further cementing the relationship between sports betting and sports media.

People watch sports and sports talk shows for entertainment, but sports betting has slowly become its own sub-genre of sports entertainment. Even major sports networks have seamlessly combined the two.

Sports Betting On Major Networks

ESPN, for example, has gone all-in on sports betting. The network has launched several sports betting programs in the last few months and has even begun hiring sports betting analysts to have on their network.

Even five years ago, sports networks wouldn’t mention the betting lines and odds, but now on game previews, it is natural for a broadcaster to mention the odds and betting lines in order to better discuss who’s favored to win a game.

On major shows like ESPN’s First Take, the hosts will talk about Las Vegas odds for given teams as a way to naturally explain, using sports betting, how a team is expected to win or lose.

This is a prime example of how the natural language of sports betting has become synonymous with sports entertainment.

Fox Sports has also gone headfirst into the sports betting world. In fact, Fox has launched its own domestic sportsbook in Fox Bet. Fox Bet odds are used on all of Fox Sports shows when discussing games in a natural setting.

Like ESPN, Fox Sports analysts will discuss a given game, and then explain how a team is expected to win or lose while using the odds from Fox Bet. This is a way for Fox to naturally promote their sportsbook, while also integrating the sports betting side of things with sports media.

These major companies aren’t stopping there, expect more sports betting and sports media connections as more states regulate sports betting in their legislation. In the two years since PASPA was repealed, the entire landscape of sports media has changed.

ESPN has opened launched a new studio in Las Vegas, the heart of sports betting in the US.

With fuboTV planning to get into sports betting, and major sports media networks embracing sports betting, the lines between sports entertainment and sports betting will be blurred completely. The future is clearly bright for the sports betting market in the US.

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Giovanni Shorter

Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.