FuboTV Steals a Play From the DraftKings Playbook

When it comes to getting sports fans into the game, no one does it quite like fuboTV (NYSE: FUBO). The premium video service, which bills itself as the leading "sports-first" platform, was the first live TV streaming offering to broadcast available programming in 4K. Now it's making a bigger play to give its growing subscriber base more skin in the game.

FuboTV announced after Tuesday's market close that it's acquiring Balto Sports, a developer of online tools for fantasy sports gaming. The initial plan is to leverage Balto's contest automation software with its own proprietary technology to introduce a free-to-play gaming offering. It will then use that foot in the door to make a bigger play for the lucrative online wagering market. The strategy has worked out nicely for DraftKings (NASDAQ: DKNG). It only makes sense for fuboTV to keep calling the play that works. 

Image source: Getty Images.

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Source Fool.com