Investors continue to find opportunities in the ever-evolving field of sports betting.
With well-established players like FanDuel and DraftKings in the market, investors are turning to startups that can disrupt sports betting rules, whether it’s through UBet’s decentralized betting platform, nVenue’s live data analytics, or EDGE Market’s tools for responsible betting.
Even in a shaky economy, this year sports betting and online gambling firms closed deals worth $125 million in venture capital, in line with the deal value this time last year and before 2020, according to PitchBook.
PitchBook tracks the top US VC deals in sports betting and online gambling so far in 2022. Here are the top 10 deals as of June 28, according to the data:
- mojo – $75 million. Mojo in March closed a $75 million Series A funding round, led by Thrive Capital. The upcoming sports stock market – which gives bettors a chance to bet on athletes like stocks – was It was co-founded by MLB legend Alex Rodriguez, Bart Stein, Marc Lore and Vinit Bharara.
- and wages – $10 million. Wagr is a social sports betting app where players can bet on their friends for a fixed fee instead of at home. Wagr in January raised $10 million in Series A funding, Which included investments from The Kraft Group and Harris Blitzer Sports Entertainment.
- American Integrity – $8.4 million. US Integrity is more than just a startup focused on sports betting security through bet monitoring and fraud prevention. closed in April financing chain a From the developer of Las Vegas Sands Casino and Resort.
- bravado – $7.3 million. Vaunt is a sports and leisure brand that collaborates with athletes and artists Unique competitions And the expertise. It was co-founded by former basketball player Roger Mason Jr. and Amri Weir. Some investors included in the A Font series InfiniteWorldformer Turner Broadcasting president David Levy, and former National Basketball Players Association CEO Michelle Roberts.
- EDGE Markets – $3.9 million. EDGE Markets aims to promote responsible betting through tools such as spending limits and transaction sharing. In mid-May, it raised nearly $4 million in seed funding.
- gaming community – 3.5 million dollars. Gaming Community is a sports content platform with a sports betting and gaming angle. It also enters into women’s sports through a dedicated section called “Women’s Betting”. It was founded by The Players’ Tribune co-founder Jimmy Messler and NBA legend Kevin Garnett. Investors in the latest initial funding round include Acies Investments and TLI Bedrock.
- nVenue – 3.5 million dollars. Startup nVenue uses machine learning and data analytics to predict the action of a live game. Its data can be used for sports or media betting; It supports odds odds on Apple TV+’s MLB broadcasts, for example. Corazon Capital And the KB . Partners They are the investors in nVenue’s latest seed funding round, which closed in March.
- UBet – $2.7 million. UBet is a decentralized sports betting platform with odds generated by a market-based algorithm. The initial funding round of $2.7 million closed in May. Investors include former DraftKings director Dan Hannigan Daly, Cheema Capital And the GSR . projects.
- betting booth – $2.2 million. Unlike the other startups on the list, Bet Booth’s doesn’t just focus on the digital landscape. Bet Booth, which in June secured more than $2 million in seed funding, is looking to make sports betting and fantasy sports more accessible through physical kiosks similar to ATMs.
- Sports betting guides – 2.0 million. Sports Gambling Guide is a social media marketing company affiliated with the sports gambling business. It closed in June a $2 million financing from Astralis Capital, a venture capital firm targeting esports and gaming.