Paddy Power Betfair Buys Fantasy Sports site Fan Duel Paddy Power Betfair purchases dream sports site Fan Duel 23 May 2018 Gambling company Paddy Power Betfair has agreed to combine with the US fantasy sports betting website Fan Duel. It wishes to target the US sports wagering market that is set to open up after a court choice. In May, the US Supreme Court overturned 1992 legislation that prohibited sports wagering in the majority of states. Fan Duel, which was established in Scotland, permits sports fans to bet on fantasy sports leagues and contests in American sports. The offer Under the arrangement, Paddy Power Betfair will throw in its existing US possessions worth $612m along with $158m of cash to take a 61% stake in the combined business. Existing Fan Duel financiers will own 39%. The Dublin-based business will control business, which will end up being a subsidiary. Paddy Power Betfair manager Peter Jackson stated the mix would produce the "largest online business" in the US gaming industry. " [We will have] a large sports-focused client base and a substantial nationwide footprint," he stated. The punters Fan Duel lets its clients wager on fantasy sport games, based around NFL Football, NBA basketball, MLB baseball and NHL ice hockey. There are an estimated 30 million adult dream sports gamers in North America. Users pick fantasy sports groups utilizing a dream spending plan, and play head-to-head or multi-player contests online. Players pay an entry cost for each contest and contend for cash rewards. The landscape Paddy Power Betfair went into the US dream sports market in 2015 with the acquisition of Draft, a United States fantasy sports website, for $48m (₤ 35m).