Fubo definitely is uniquely positioned to capitalize on betting trend by having hundreds of thousands (for now) subscribers interested in sports and betting on sports is something very natural for many sports fans.
This is simply not the case. They aren’t uniquely positioned [Sinclair, Fox, Barstool are much bigger/get way more views] and have no hope of breaking into the top 3-5 spots in sports betting currently owned by FanDuel, DraftKings, Penn/Barstool, Foxbet, BetMGM, as well as lower placed but well-funded Caesar’s, RushStreet, Unibet, TwinSpires/BetAmerica, Wynn and others depending on your state, plus the upcoming Sinclair/BallySports.
If ESPN ever gets into the game the top 5 will be locked in pretty much forever, and only the top 3-4 will ever have a chance to make economic profits.
Gambling is always a volume business whether tables, slots or sports, the top two SB firms in PA, for example, are already ~60% of the market and also have the best name recognition. The 5th biggest book by contrast [of 13] has 5% of the revenues and profits.
I’m not an expert on most industries of interest to this board, but I am an expert on the sports betting/gaming industry.
PA is the 2nd largest online sports betting state and FoxBet, to use one massive company with $billions of resources & tons of ads had a 5% hold in March, not bad.
That was less than $1m in yield/GGR. In the 2nd biggest state for online sports!
This is before even getting into the fact that Fubo doesn’t really have much in the way of live sports at all as others have noted. Certainly dwarfed by Fox, Sinclair, Hulu, ESPN, et al.
It’s the furthest thing from a ‘free option,’ this sports betting game is very, very expensive to enter and run: massive money-losing promotional campaigns, free $deposit bonuses, and ad spending to even get off the ground and that’s assuming you win [and pay for] the state licenses in the first place.