FuboTV to launch sports betting division and app in Q4

Television streaming company FuboTV is launching a sports gambling division in Chicago in the fourth quarter of this year. 

Its Fubo Gaming subsidiary plans to hire over 100 employees in the next three months. New York-based FuboTV, which launched in 2015 and went public in October 2020, first announced the launch of Fubo Gaming in January after acquiring Chicago startup Vigtory, a sports betting company.

The Vigtory acquisition will allow FuboTV to launch its own sportsbook, putting it in direct competition with DraftKings, FanDuel, Barstool and other online sports betting operators. The entire 15-person Vigtory team has joined FuboTV, and co-CEOs Sam Rattner and Scott Butera have joined Fubo Gaming as Chief Operating Officer and President, respectively. Rattner said the company plans to hire over 100 employees in Chicago in the next 60 to 90 days, including over 60 engineers, as reported by Chicago Business Journal. 

FuboTV's standalone sports betting app will look to stand out by incorporating live streaming, Rattner said, allowing users to watch and bet from the same platform. The company is also developing a loyalty feature that allows users to earn rewards towards things like sports merchandise and tickets to live games. Fubo can also provide gamblers with other perks not found in traditional bettings apps, such as subscriptions to NFL Red Zone or NBA TV.

Fubo Gaming expects to be live in several states by the time its app launches later this year.