Fubo Gaming Sportsbook Shuts Down Before Indiana Launch

Fubo’s sportsbook operation has ceased to exist. Before it had a chance to penetrate the Indiana market, the company made the decision to close its online sportsbook.

Fubo’s sportsbook was functioning in only a handful of states.

Fubo Gaming, ClutchBet, SI Sportsbook, and Prophet Exchange were all in the race to open an online sportsbook in Indiana. However, while the rest will continue with the process, Fubo Gaming has decided not to proceed.

Fubo Gaming Inc, a sports-centric live TV streaming service, has been operating a sports betting app since November 2021. Fubo Sportsbook had intended to collaborate with Harrah’s Hoosier Park Casino for its launch.

The company announced the decision to close down on its website.

Fubo Gaming ceased its sportsbook operations on Monday, Oct. 17, 2022. Consequently, it will no longer accept bets or deposits. Nevertheless, Fubo Gaming customers are still able to withdraw any funds they have deposited but not yet bet, as well as any returns from their bets. Any open bets will be settled according to the Fubo Gaming House Rules.

Decision came after considering future projections

A press release stated that the company’s 2025 profitability targets influenced the decision to shut down Fubo Gaming operations.

The company conducted a strategic review of the Fubo Gaming business, keeping certain goals in mind. However, due to an inability to decrease funding needs and generate enough returns for stakeholders, despite interest from multiple parties, the company decided to immediately halt its sportsbook operations.

Fubo could have potentially profited greatly from the Indiana market.

The announcement follows Indiana’s collection of over $1 billion in gambling taxes from July 2021 to June 2022. This demonstrates that a Fubo sportsbook in Indiana could have been a profitable venture.

The company was running sportsbooks in Arizona, New Jersey, and Iowa before it stopped operations. It was also awaiting approval in Louisiana, Mississippi, Missouri, Ohio, Pennsylvania, Texas, and Indiana.

FuboTV is not affected by the decision on sportsbook.

Fubo Gaming continues to permit fund withdrawals on its website until Nov. 17 for the three states with active sportsbooks. Any remaining funds not withdrawn by then will be mailed out by the company.

Fubo stressed that FuboTV remains fully functional and the termination of Fubo Gaming operations has no effect on FuboTV subscriptions.

Since its inception in 2015, FuboTV has grown its business through acquiring companies, extending its international reach, and broadening its services to include gaming and wagering. As a result of this expansion into gaming and wagering in 2021, FuboTV has reported its highest ever revenue and subscriber numbers.

Fubo announced in March 2021 that it had exceeded $100 million in quarterly revenue for the first time during the fourth quarter of 2020.

The ultimate goal of Fubo was to incorporate interactive gaming and sports betting into its TV experience.

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Sam Hollingsworth

Sam, a native New Yorker and sports betting enthusiast, possesses a rich history of racehorse ownership, wagering, and spectating. His love for sports extends from visiting the USTA Billie Jean King National Tennis Center for the U.S. Open to enjoying baseball games, irrespective of the level or distance. He also delights in frequenting casinos and horse racing venues. Professionally, Sam is a marketing executive. However, his roles as a father and a dog owner are equally important to him. His enthusiasm for life is evident in his love for exploration.

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