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Paddy Power announces US online expansion

online expansion concept

Bookmaker Paddy Power Betfair has announced an expansion in its US operations, with its US affiliate Fanduel now offering a sports betting service to online gamblers in New Jersey.

Paddy Power Betfair was one of the first European bookmakers to step into the new US sports betting market, following the Supreme Court decision in May that overturned a long-standing sports betting ban. The Irish betting giant moved quickly to set up a merger with US company Fanduel, shortly after the Supreme Court decision, and Fanduel this weekend launched its sportsbook app, hoping to capitalise on the growing market.

The app will enable residents of New Jersey to place bets on football, basketball and other events online. The technology for the sportsbook service has been provided by another European gambling operator, GAN, which is based in Dublin and London.

Long standing presence

The development represents a major step towards securing a significant slice of the New Jersey sports betting network, although Paddy Power Betfair was better positioned than many UK companies, having had a long-standing presence in the area. The company has made a number of deals and partnerships with US operators, in order to gain a foothold in a sports betting market that by some estimates could be worth £120 billion.

Paddy Power Betfair already offers sports betting in New Jersey through the Meadowlands racetrack and Fanduel have been able to use the experience of providing that service to design the new online sports betting app.

But the Irish company is likely to face growing competition from other operators, including 888 Sport and William Hill, who have both announced plans to expand into the US, and the growing sports betting market, which could extend to New York and other states in the next few months, is sure to attract continued interest from global bookmakers.

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