🎉 2022 Shortlist
Fubo Sportsbook: The Future of Sports Wagering
Entrant: Fubo Sportsbook
- Best Sportsbook
ABOUT THIS ENTRY
More than a wagering platform, Fubo Sportsbook is purpose-built to meet U.S. sports fans’ growing demand for interactivity through an industry-first integration of an owned-and-operated sports wagering platform and a live TV streaming service. By integrating with fuboTV, Fubo Sportsbook delivers a personalized omniscreen experience that turns passive viewers into active and engaged participants.
How does this represent “Excellence in Engagement”?
fuboTV set the standard as the leading sports-first live TV streaming platform, featuring a deep bench of live sports content. It then became the first - and currently only - media company willing to undertake the sports betting licensing process, recognizing the potential of this integration from the ground up. As a result, Fubo is the first to integrate a mobile sportsbook with owned-and-operated live TV streaming, allowing for continuous innovation, optimization and personalization of the fan experience.
With this unique foundation, Fubo Sportsbook is (and always intended to be) more than just a standalone sportsbook. While others, like DraftKings and FanDuel, focus on wagering alone, Fubo continues to focus on developing a holistic sports entertainment ecosystem that creates engagement and interactivity by integrating its sports wagering with a live TV streaming platform.
The interactive ecosystem keeps sports fans engaged for longer periods of time, yielding greater acquisition retention and advertising revenue, with limited amount of marketing spend.
Objective: Sports entertainment and wagering do not exist as separate entities in the minds of consumers - yet that's how they've long been developed. One place to consume the media; another to wager. Today's sports fans want seamless, personalized experiences - and moreover, to feel part of the action. As such, companies from the media and wagering industries are increasingly taking steps to create immersive sports entertainment experiences that provide more engagement. Many are partnering up, while Fubo (fuboTV and Fubo Sportsbook) is uniquely building it from the ground up.
Positioned at the intersection of two exploding markets - sports wagering + sports entertainment - Fubo seized on its distinct ability and opportunity to create a holistic sports entertainment experience where wagering and watching is available in one ecosystem. It integrated its robust live TV streaming service, fuboTV, with its sports wagering platform to create Fubo Sportsbook. It is the first mobile sportsbook to integrate with owned-and-operated live TV streaming. By doing so, it delivers a highly-personalized, interactive omniscreen experience, turning passive viewers into active participants.
Because of its foundation, Fubo Sportsbook is more than a standalone sportsbook. It goes beyond wagering, providing sports fans with an immersive experience where they can wager AND watch together.
Strategy & Execution: Modern sports fans increasingly want personalization, seamlessness, and interactivity in their experiences. Recent research reveals that more than half (55%) of U.S. sports fans say they’re interested in sports betting, and 80% of fans who place bets are more likely to watch that sport. In fact, among the 96% of fuboTV customers who watch sports, 50% say they’re also interested in wagering.
With this in mind, Fubo focused on bringing the watching and wagering experiences together, developing a holistic sports entertainment ecosystem for sports enthusiasts and casual bettors alike. Fubo became the first to integrate a mobile sportsbook with owned-and-operated live TV streaming, allowing for unique innovation and optimization of the fan experience.
Fubo Sportsbook leverages proprietary data to understand user behavior and deliver interactive and personalized experiences across multiple screens, turning passive viewers into active participants.
The app launched with its proprietary feature, ‘Watching Now,’ and intends to continue iterating the app, launching additional features that will further integrate wagering into the live TV streaming platform, to create an even more immersive, engaging and personalized sports entertainment experience.
Results: Fubo’s unified experience and built-in streaming audience, which recently surpassed 1M paid subscribers in 2021 (up 106% YoY), creates a flywheel – with the TV platform driving customers to the sportsbook while the sportsbook drives deeper engagement and ad monetization for TV.
Early results point to the flywheel working - since Fubo Sportsbook’s launch in Q4 2021, crossover users (TV to Sportsbook customers) have, on average, placed a greater number of bets and have higher retention rates on the sportsbook than sportsbook-only players.
This only scratches the surface of how betting integration can enhance the fan experience. Fubo expects to further deepen its integration between fuboTV and Fubo Sportsbook over time, aiming to continuously innovate and optimize the fan experience and develop its flywheel.