ESPN and Fox are still working on betting apps
At the time, FuboTV still said it planned to launch live odds this year. Last December, FuboTV’s chief product officer toldthat betting is “kind of core to being a fan, making casual bets with friends and family, and it is something that we felt would make our product even more engaging than it is now.”
Now that business is gone, and according to co-founder and CEO David Gandler, the reason is simply that “Following our previously announced strategic review, we have concluded that continuing with Fubo Gaming and Fubo Sportsbook in this challenging macroeconomic environment would impact our ability to reach our longer term profitability goals.”
Apparently, the company sought partners to help shoulder the expense of launching gambling features widely but didn’t find a deal that worked. Another notable development in the last few months is a production deal between FuboTV and the Ryan Reynolds-backed production company Maximum Effort that included Maximum Effort buying an ownership stake in the streamer.
FuboTV will release more detailed results and have an earnings call in November which may shed more light on the decision, but for now, I’m wondering what this indicates for other companies, like Disney / ESPN, Fox, and DAZN that have either launched gambling features already or said they will.
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