Why FuboTV Shares Are Trading Higher Today

FuboTV Inc FUBO is trading higher Thursday after the company's subsidiary, Fubo Gaming, announced a partnership with Paysafe PSFE. 

Fubo Sportsbook will plug into Paysafe for credit and debit card payments. It is expected to launch in the fourth quarter.

Leveraging FuboTV's first-party user behavior data to understand consumers' viewing preferences and recommend relevant bets, the company said it intends to turn passive viewers into active, engaged participants.

"We are building our Fubo Sportsbook to deliver a truly integrated and interactive betting experience, where sports fans can be active and engaged participants of the games they are watching and wagering on," said Scott Butera, president of Fubo Gaming.

Butera continued, "To bring that vision to life, we needed a payment partner who was going to provide secure, fast, and easy-to-use solutions for our sportsbook users. Paysafe checks all of those boxes, and we look forward to our continued partnership."

FuboTV is a sports-first, live TV streaming company, offering subscribers access to tens of thousands of live sporting events annually as well as news and entertainment content.

FUBO Price Action: FuboTV has traded as high as $62.29 and as low as $78.72 over a 52-week period.

The stock was up 6.38% at $24.35 at time of publication.

Photo: courtesy of FuboTV.