Paddy Power Betfair confirms talks with FanDuel

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According to media reports, Paddy Power Betfair has entered negotiations for the acquisition of the online daily fantasy sports (DFS) operator FanDuel in an attempt to take advantage of the recently-lifted federal ban on sports betting in the US.

No further details, including any financial details, were given and the group said that it would issue a further announcement "as appropriate". It offers exchange sports betting and pari-mutuel betting products, fixed odds games betting, online games and casino, and business-to-business services, as well as peer to peer games, including online bingo and poker. Fanduel pays out cash prizes to players who pick successful fantasy sports teams.

On Monday, following the supreme court decision, FanDuel said: "The supreme court's decision, which paves the way for states to legalise sports betting, creates an enormous opportunity for FanDuel as our platform, brand and customer base provide a unique and compelling foundation to meaningfully participate".

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In 2017, FanDuel had planned to merge with rival DraftKings, but it was called off after the US Federal Trade Commission (FTC) said it would oppose the merger.

In Britain, Paddy Power and other bookmakers are bracing for the impact of imminent state intervention in the sector.

The move offers a potential lifeline to United Kingdom bookmakers, which are braced for the imminent outcome of a review into so-called fixed-odds betting terminals that is expected to slash the maximum stake punters are allowed to bet.