In a new "Voices of Wall Street," host Dion Rabouin speaks with FuboTV CEO David Gandler about the streaming company's upcoming sportsbook launch, competition from Dish and DraftKings' partnership, and keeping losses in check despite a ramp up in product investments.
Media and live streaming companies are racing to capitalize on the synergies presented by integrating sports wagering capabilities into live TV viewing. The sports betting market has been accelerating at a rapid clip as states across the country cozy up to legalized wagering. Revenue in the U.S. grew to $1.57 billion in 2020, up from $920 million in 2019, and is projected to grow to $5.8 billion by 2023.
FuboTV is now doubling down to capture sports fans fleeing cable, and the company is betting that sports gambling will not only attract more users, but will also offer new customers a unique entertainment experience.
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