FuboTV Inc. (NYSE: FUBO) has acquired Balto Sports. The deal marks the company’s first move into the online sports wagering market.
“We believe there are significant synergies between consumers who enjoy wagering and our subscribers who enjoy streaming live sports, creating a flywheel opportunity,” says FuboTV CEO David Gandler. “The acquisition of Balto Sports will 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. “
Balto Sports that develops tools for users to organize and play fantasy sports games. The online sports wagering market is expected to reach $155 billion by 2024, according to Zion Market Research.