Discussions with fantasy sports league company come as UK bookmakers are well placed for slice of US market

Paddy Power Betfair has made the first move in an expected wave of takeover activity prompted by the legalisation of sports betting in the US, as it launched a bid for fantasy sports league company FanDuel.

Shares in UK gambling companies soared earlier this week as investors responded to the US supreme court’s decision to overturn a law known as PASPA, a ban on sports bets that had stood for 26 years.

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Read More Paddy Power Betfair in talks to buy FanDuel after US sports betting ruling

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