Paddy Power Betfair Buys Fantasy Sports site Fan Duel Paddy Power Betfair buys dream sports website Fan Duel 23 May 2018 Gambling company Paddy Power Betfair has actually consented to merge with the US fantasy sports wagering website Fan Duel. It wishes to target the US sports betting market that is set to open after a court decision. In May, the US Supreme Court reversed 1992 legislation that banned sports wagering in most states. Fan Duel, which was founded in Scotland, permits sports fans to bet on dream sports leagues and contests in American sports. The deal Under the agreement, Paddy Power Betfair will include its existing US assets worth $612m in addition to $158m of money to take a 61% stake in the combined service. Existing Fan Duel investors will own 39%. The Dublin-based business will control business, which will become a subsidiary. Paddy Power Betfair boss Peter Jackson stated the combination would develop the "biggest online company" in the US betting industry. " [We will have] a large sports-focused customer base and a substantial across the country footprint," he said. The punters Fan Duel lets its customers bank on dream sport games, based around NFL Football, NBA basketball, MLB baseball and NHL ice hockey. There are a projected 30 million adult dream sports players in North America. Users choose dream sports teams using a dream spending plan, and play head-to-head or multi-player contests online. Players pay an entry charge for each contest and contend for prize money. The landscape Paddy Power Betfair went into the US fantasy sports market in 2015 with the acquisition of Draft, a United States dream sports site, for $48m (₤ 35m). The Dublin-based firm currently has an US division, which includes the TVG Network, a horseracing TV channel and an online wagering network which is active in 35 states.