Fubo Sportsbook Promo Code Offer January 2023 News

Fubo Sportsbook Has Closed
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Fubo Gaming entered the sports betting world in November 2021 but closed its doors on October 18, 2022. We recommend the following sports betting apps instead of Fubo Sportsbook:

Click here to read about our best sports betting platforms and bonus codes.

Fubo Gaming was a division of fuboTV Inc., a New York-based media streaming company that specializes in sports broadcasting. The company operated the Fubo Sportsbook app, which offered promotions for users in Iowa and Arizona. 

Fubo Sportsbook attempted to bring a unique betting experience to the table, as it was the first sportsbook to integrate a sports wagering platform with a live TV streaming experience. The idea behind the effort was intriguing for users but was often problematic in the execution of the concept. 

Why Fubo Sportsbook Closed

FuboTV announced the immediate closing of Fubo Sportsbook just a few months after the company had communicated its goal of achieving “free positive cash flow” by 2025. Despite their goals of finding investment partners to maximize their revenue streams, their efforts fell short, and closing the doors to the sportsbook was the better option.

None of the potential partners would have brought sufficient enough revenue streams to continue business despite their optimism. Recent Q2 statements had shown that rising content costs, competition, and inflation had led to near-term concerns that were likely not in the projections when the sportsbook was launched. Cutting their losses may have been shocking but can keep the business viable for years to come.

The stock market had seen Ebitda lose almost $180 million in the first two quarters of 2022. FuboTV now has a brighter outlook, with a projected $210 million in revenue in North America for the next quarter. We’ll get the Q3 results and statements later in 2022.

Deposit And Withdrawals

Like many other notable sportsbooks, Fubo Sportsbook offers users many different ways to fund their accounts. Depositing money into your Fubo Sportsbook account is a quick and easy process that allows you to quickly have funds available to place bets with. The following options can be used to fund your account:

  • Credit/debit cards: Perhaps the most popular way to access funds is through a debit or credit card. Fubo Sportsbook accepts both.
  • ACH transfer: By using an ACH transfer, users can move funds directly from their bank accounts to their Fubo Sportsbook accounts.
  • Paysafecard: To use this method, simply select Paysafecard in the deposit section of the app. Then, find your nearest retailer to purchase a prepaid card in person with cash. Once complete, you can redeem the money online through Fubo Sportsbook.
  • Skrill: This platform can be used not only to make deposits but to receive fast withdrawals from Fubo Sportsbook when you are ready to move money from your account to your bank.
  • Wire transfer: These work best for making large deposits.

Fubo Sportsbook Customer Support

Fubo Sportsbook does not have much to offer when it comes to customer support. If you are ever in need of assistance, the Fubo Sportsbook website has a “Help Desk” tab at the bottom of the page. There, you will find separate links for each issue (deposit/withdrawals, account maintenance, promotions, etc). In addition, there is an FAQ section for quick answers.

However, if you are unable to find the answer to your problem(s) using those methods, the only remaining option is to send an email to their customer support team. Unfortunately, Fubo Sportsbook does not allow customers to contact a customer support representative directly.

Fubo Sportsbook Licensing

Fubo Sportsbook was available in Iowa and Arizona. It had aimed to launch in other states before closing. In addition to being in Iowa and Arizona, Fubo Sportsbook also had market access in Indiana and New Jersey. The platform also had market access agreements in Ohio and Pennsylvania. Mobile sports betting is legal in Pennsylvania, while the access agreement was pending the legalization of mobile sports betting in Ohio.

Fubu Sportsbook FAQs

Is Fubo Sportsbook legal? 

Yes. Fubo Sportsbook is currently legal for use in Iowa and Arizona. More states may be added in 2022.

Where can I download the Fubo Sportsbook app?

The Fubo Sportsbook app can be downloaded in any state in which mobile sports betting is legal. However, bets will not be able to be placed unless you are in Iowa or Arizona – the two states in which Fubo Sportsbook is live. The app can be downloaded through the Fubo Sportsbook website, or on an iOS or Android device.

How does geolocation technology work when downloading the Fubo Sportsbook app?

Geolocation is used to allow mobile betting in legal areas, and stop mobile betting in areas in which it is not yet legal. Bettors will have to be in Iowa or Arizona in order to place a bet with Fubo Sportsbook. 

Is it safe to use the Fubo Sportsbook app?

Absolutely. Like other legal sportsbooks, Fubo Sportsbook is a licensed and regulated betting platform that is required to establish a liability fund separate from its expenses. This is done in order to ensure the protection of funds for each user. Furthermore, each sportsbook is regulated by an independent entity in each state that establishes strict rules for financial protection.

How old do you have to be to place a bet using Fubo Sportsbook?

Bettors will need to be 21 years of age or older when placing a bet with Fubo Sportsbook.

Is there a Fubo Casino app?

No. Fubo does not currently have a casino app.

About the Author
Connor Grootenhuis

Connor Grootenhuis

Writer and Contributor
Connor Grootenhuis is a writer and contributor for Gaming Today covering all things gambling and sports betting. Based in the Bayou State of Louisiana, he is a lifelong sports fan and a believer that every loss is a bad beat and every win is easy money.

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