fuboTV $FUBO stock has confirmed a turnaround pattern on a higher low as it tests key resistance levels. A break above the resistance levels would be a smoking hot buy signal.
Sports betters are expected to come out in record numbers this NFL season as legalized sports betting has expanded to more states.
Fubo Sportsbook Launches Statewide in New Jersey
On September 7, 2022, Fubo Gaming, a subsidiary of leading sports-first live TV streaming platform FuboTV Inc. (NYSE: FUBO), announced the launch of Fubo Sportsbook in New Jersey after successfully completing the soft play phase of the state’s Division of Gaming Enforcement regulatory process.
Starting today, sports enthusiasts 21 years of age and older across the Garden State can place a variety of wagers on thousands of live and future professional and out-of-state collegiate sporting events using the Fubo Sportsbook app on iOS and Android or on the website. The launch of Fubo’s revolutionary sportsbook, the first to integrate watching and wagering in one ecosystem, kicks off just in time for the 2022-23 football season, one of the busiest sports betting periods.
Fubo Gaming intends to continue iterating the app, launching additional features that will further integrate wagering into the FuboTV platform.
The launch reinforces FuboTV’s commitment to interactive wagering following its recent decision to place its online wagering business under strategic review. The company continues to believe that an integrated wagering platform, offering both live video and a sportsbook, will cause the best viewing and gaming experience for consumers. However, given today’s macroeconomic environment, FuboTV has concluded that it will no longer pursue this opportunity on its own and is exploring the best path forward.
The launch in New Jersey, via an agreement with Caesars Entertainment, Inc., further expands FuboTV’s mission to deliver personalized omniscreen experiences that turn passive viewers into active participants. The wagering platform is purpose built to meet U.S. sports fans’ growing demand for interactivity through integrating a sports wagering platform with a live TV streaming experience. Users in the Garden State will soon be able to experience Fubo Sportsbook’s proprietary feature, Watch & Wager (formerly known as “Watching Now”), which leverages FuboTV’s first-party user data to recommend relevant bets based upon what viewers are streaming — even as they change the channel.
Fubo Sportsbook’s launch in New Jersey builds upon Fubo Gaming’s presence in the Garden State through its previously announced multi-year partnership with the New York Jets — representing the NY/NJ metropolitan area, with their home stadium located in New Jersey. In 2021, Fubo opened a 7,000-square-foot lounge at MetLife Stadium, featuring a full-service bar, live-action screens and incredible views of the Jets on-field action from the lounge’s outdoor patio. The launch of Fubo Sportsbook in New Jersey enhances Fubo’s ties with the Jets with the activation of its mobile sports betting lounge during the 2022 football season. With the assistance of a service team ready to help, guests 21 and over will be able to enjoy an unparalleled in-stadium experience through the look and feel of a casino-style sportsbook with betting odds integration, as well as incentives and special bonus offers provided by Fubo Sportsbook.
“Launching Fubo Sportsbook in New Jersey is an important early step in the development of our integrated platform, which includes a recently improved user experience and enhanced product capabilities,” said Scott Butera, president, Fubo Gaming. “As one of the largest and most established sports betting markets in the U.S., New Jersey will allow Fubo to analyze and efficiently develop the most engaging product features that are focused on driving streaming customers into wagering. New Jersey is known for having deeply passionate sports fans, who, we believe, will enjoy our one-of-a-kind immersive sports wagering and viewing experience in time for football season.”
“An integrated wagering platform, offering both live video and a sportsbook, is, we believe, the best gaming experience for consumers,” said David Gandler, co-founder and CEO, FuboTV. “Today’s launch marks an important milestone for Fubo Sportsbook. Our book is now available in three states, including one of the top wagering markets in the country, just 10 months after launching our first. We remain committed to interactive wagering and continue to explore potential partnership opportunities for Fubo Sportsbook.”
“We are thrilled to fully activate our partnership with Fubo, providing Jets fans access to the Fubo sports betting experience on the app and in the Fubo Sportsbook Lounge as we kick off the 2022 Jets season,” said Jeff Fernandez, vice president, business development & ventures, New York Jets. “With the official launch of Fubo Sportsbook in New Jersey, the Fubo Lounge and Fubo’s wagering app will provide an opportunity for our fans to responsibly gamble on sporting events from one of the best experiential settings in the NFL.”
📺 Fubo Sportsbook | Watch. Wager. Win.
📺 FUBO Stock –Here’s The Scoop
📈 fuboTV $FUBO Chart Technical Analysis
fuboTV $FUBO stock is in a technical weak uptrend. The stock price is approaching overbought territory with a short-term profit taking trend reversal.