Yet-to-launch fuboTV subsidiary
Fubo Sportsbook — a yet-to-launch subsidiary of the fuboTV subscription streaming service — has partnered with NASCAR to become its authorized gaming operator.
Developed and operated by Fubo Gaming, Fubo Sportsbook took to Twitter on October 14 to announce its NASCAR tie-up:
Subject to regulatory approvals, the sportsbook is preparing to launch in the fourth quarter of 2021. While the NASCAR deal marks Fubo Sportsbook’s maiden auto racing partnership, it already has two pro sports teams on board, namely the National Football League (NFL)’s New York Jets, and the National Basketball Association (NBA)’s Cleveland Cavaliers.
As an authorized gaming operator of NASCAR, the sportsbook will gain promotional mileage via multi-channel marketing. Fubo Sportsbook’s marketing activity will be enriched by in-app use of NASCAR’s proprietary track, series, and event logos and marks. Additionally, the sportsbook can brand itself trackside across NASCAR events and also on the auto racing giant’s digital and social platforms.
Enhanced fan experiences
COO of Fubo Gaming Sam Rattner said in the news release that his firm is “eager” to partner with the American stock car racing league, with its “rich history and passionate followers.” Rattner added that the partnership would build engaging sports betting experiences for potential and current racing fans, with the aim of “reaching sports enthusiasts across the country.”
a window to grow the league’s reach “through a unique sports betting experience”
NASCAR’s managing director of sports betting Joseph Solosky concurred, saying the partnership was a window to grow the league’s reach “through a unique sports betting experience.”
Solosky added whether a dyed-in-the-wool or a casual race fan, the sportsbook’s innovative approach to sports betting ushers in a “more exciting experience for our audience as they’re able to interact with the sport in new ways.”
fuboTV’s shares jump
According to stock market news site Seeking Alpha on October 14, FuboTV stock jumped 3.2% after hours following news of its sportsbook’s NASCAR partnership.
It marks a bullish entry into the US mobile sports wagering market for the streaming giant, which only launched its Fubo Gaming arm in January 2021 after acquiring Chicago sports betting startup Vigtory.
Fubo Gaming already has licenses and market access agreements in Arizona via the Ak-Chin Indian Community and Iowa via Casino Queen. The Fubo Gaming arm has also gotten market access agreements for its sportsbook in Pennsylvania via The Cordish Companies and in Indiana and New Jersey via Caesars Entertainment Inc.
Fubo Sportsbook looks set to eventually challenge DraftKings in this space. The Massachusetts-based sports betting kingpin partnered with live streaming service Sling TV in April 2021 to bring DraftKings Basketball to a subscription and free user viewer base.