Paddy Power’s American deal

PADDY Power Betfair has unveiled plans to expand in the US after the country’s Supreme Court overturned a ban on sports betting.

The FTSE 100 bookmaker is in talks to buy online operator Fan Duel, where US punters currently gamble legally on fantasy leagues and competitions based on real sports such as American football, baseball and ice hockey.

A purchase would give Paddy Power Betfair access to Fan Duel’s 6m members, which it hopes will be tempted to bet on real sports.

It is understood the company hopes to complete a deal quickly.

Paddy Power Betfair shares yesterday rose 6.3pc, or 490p, to 8250p.