FuboTV said it will 'no longer go down the wagering path independently' in a shareholder letter. Instead, it's looking for strategic partnerships to run its Fubo Sportsbook moving forward.
FuboTV will no longer run its in-house sports betting platform independently, and will be seeking “strategic opportunities” to operate the wagering arm of its business.
“We continue to believe that an integrated wagering platform, offering both live video and a sportsbook, will result in the best viewing and gaming experience for customers,” the company said in the shareholder letter on Thursday. “However, as we have evaluated how best to scale these capabilities in today’s market, we have concluded that we will no longer pursue this opportunity on our own.”
Fubo could look to partner its streaming platform with another sportsbook that accepts legal wagers — and some states that allow sports betting already have sportsbooks operating in them. For now, the shareholder letter said that Fubo Sportsbook will continue to operate in states where it has already been approved while the company looks for a buyer or partner for its sportsbook.
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