Sports Betting Through TV Growing

The Cleveland Cavaliers and Fubo Gaming, a subsidiary of fuboTV Inc. (NYSE: FUBO) today announced a market access agreement, making Fubo Sportsbook an Official Mobile Sports Betting Partner of the team when the sportsbook launches in Ohio, pending requisite regulatory approvals.

The announcement, which further advances the companies’ current marketing partnership formed in October 2021, comes on the heels of the legalization of sports gambling in the Buckeye State. Pending regulatory approvals, Fubo Sportsbook will launch its market-defining wagering platform in Ohio, offering Cavs fans even more personalized and immersive game-day experiences.

Fubo Gaming launched Fubo Sportsbook in the fourth quarter 2021 and is live in two states: Iowa and Arizona. 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 with a live TV streaming experience.

The partnership will feature the opening of a 3,000 sq. ft. sports lounge inside Rocket Mortgage FieldHouse, which will serve as a game-day destination for fans with incentives and special bonus offers provided by Fubo Sportsbook. Additionally, fans will be able to watch NBA games and other sporting events from the comfort of the lounge.

“This is an exciting evolution of our continued partnership with Fubo Gaming,” said Len Komoroski, CEO, Cavaliers and Rocket Mortgage FieldHouse. “The Fubo Sportsbook mobile wagering platform provides leading technology, connectivity and entertainment that aligns perfectly with our commitment to innovation and engagement across every aspect of the fan experience. We look forward to the continued collaboration with Fubo as we work to establish a best-in-class sports betting marketplace to offer our fans in Cleveland and throughout the state of Ohio.”

“The opportunity to enter the Ohio sports betting market with the Cavaliers as our partner is a major step forward for Fubo,” said Scott Butera, president, Fubo Gaming. “Ohio has a passionate fan base who will enjoy Fubo’s uniquely integrated streaming and wagering sports betting experience. The Cavs are at the forefront of sports innovation and consistently create highly engaging fan experiences. This partnership provides Fubo instant access to a highly attractive customer base.”

Leading up to Fubo Sportsbook’s official launch in Ohio, the Cavaliers and Fubo Gaming will continue to promote their partnership through an integrated marketing campaign highlighted by co-branded high-impact broadcast-visible signage, a presence on team television and radio game programming, as well as other marketing assets.

Fubo Gaming expects to announce the launch of Fubo Sportsbook in additional markets in the coming months, subject to requisite regulatory approvals and, in certain jurisdictions, enactment of legislation. This marks Fubo Gaming’s seventh market access agreement, in addition to Arizona, Indiana, Iowa, New Jersey, Pennsylvania and Texas.