Paddy Power in talks to merge with Fan Duel

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Gambling firm Paddy Power Betfair has said it is in talks over a merger in the US with fantasy sports site Fan Duel.

Talks centre around combining its US operation with Fan Duel to create a business to “to target the prospective US sports betting market”.

It comes as the American Supreme Court overturned 1992 legislation that banned sports betting in most US states.

Fan Duel allows sports fans to gamble on fantasy sports leagues and contests.

It offers fantasy sport gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult fantasy sports players in North America.

Players choose which contest they want to enter, build fantasy sports teams that do not breach a fantasy salary cap, and engage in head-to-head or multi-player contests.

Players pay an entry fee for each contest and compete for cash prizes.

The company, which was founded in 2009, is based in New York and has more than 100 employees.

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