4 startup trends to watch in US sports betting as the sector heats up, according to top investors

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GeoComply founders Anna Sainsbury and David Briggs.

  • The US sports betting industry is leading to a new wave of technology and media startups.
  • Some of the most promising companies are trying to expand sports betting audiences.
  • Insider spoke to investors who highlighted four key startup trends in the industry.
  • Check out Insider’s business page for more stories.

The US sports betting industry is leading to a new wave of technology and media startups helping large operators differentiate their platforms from others.

For example, DraftKings introduced new micro-betting formats from startup SimpleBet this year and acquired the VSIN media network to strengthen its content operations. Caesars Entertainment participated in the fantasy sports startup SuperDraft to access its database of sports fans. And Bally’s Corporation bought tech startup Bet.Works and fantasy sports site Monkey Knife Fight to launch its entry into space.

Some of the most promising startups in the industry are trying to expand sports betting audiences to include more casual bettors and untapped demographics, top startup investors told Insider.

It comes as the perception of sports gambling in the US is shifting from a so-called “sin industry” to a normal part of the sports fanatic.

“We have seen almost a cultural evolution in the way the public perceives sports betting and therefore sports engagement,” said Benjie Cherniak, who built and ran betting data provider Don Best and now through his company, Avenue H. an angel investor is capital. “It’s really interesting to see how quickly this has developed.”

Cherniak is one of five startup investors that Insider spoke to.

Investors highlighted four key startup trends to watch in sports betting:

  • Promotion of fan engagement: These include technology and media companies like Gaming Society, which uses content and gamification to help fans understand sports betting and place more informed bets, and PickUp, a startup that uses surveys to drive engagement around betting-related content. “It’s really taking advantage of this opportunity for casual athletes,” said Steve Ahern, partner at KB Partners.
  • Streaming technology and media: Some investors also highlighted startups that are improving sports betting streaming technology, such as reducing latency on live streams or creating interactive video overlays. These startups could potentially improve the gaming experience. This could result in a single screen experience where players can watch a game on their phone and place bets on the same screen. “This is where it goes,” said Cherniak.
  • Further development of the weather experience: Other startups like SimpleBet and Sporttrade are developing new ways for players to place bets. SimpleBet focuses on micro bets during live games, e.g. B. Which player will be intercepted next time in an NFL game. Sporttrade is part of a series of startups building betting exchanges that allow you to trade sports betting like you would with stocks. For example, Sporttrade allows users to play against other players instead of betting against the house, and negotiate and negotiate positions when the odds of a game change.
  • Supplying gambling providers: The B2B companies that provide betting providers with back-end technology and services should also be watched. This can include startups like Boom Entertainment that develop fantasy, free-to-play, and real money betting games; Betting data providers such as Sports Info Solutions; or geolocation and companies like GeoComply that recently achieved unicorn status. “One of the areas we look forward to is in the back office software products,” said David VanEgmond, founder and CEO of Bettor Capital and a former executive at FanDuel and Barstool Sports.

Read more about the sports betting startups to check out:

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