Minty Bets, Nick Bromberg, Pamela Maldonado, Frank Schwab
The Yahoo Fantasy Football Podcast
Andy Behrens, Dalton Del Don, Matt Harmon, Liz Loza, Scott Pianowski
College Football Enquirer
Dan Wetzel, Pat Forde, Pete Thamel
You Pod to Win the Game
Old Baseball Cards
Bettor Capital, the venture firm launched last year by gambling executive Dave VanEgmond, has closed its first fund, more than $50 million that it will focus on real-money online gaming applications: everything from sports betting, horse racing and fantasy to online casino games, poker and lotteries.
The firm is looking primarily for business-to-business opportunities, the software and technology that powers the rapidly growing industry, according to VanEgmond. It intends to keep raising money in the next few months, with the goal of ultimately reaching $120 million.
More from Sportico.com
Fubo Gaming Joins With Cavs for Head Start on Ohio Betting Market
Endeavor's OpenBet Deal Takes Aim at Sportradar, Genius Sports
Sports Betting Likely to Resemble Wall Street Financial Markets
Last week the fund announced its first investment, a content automation platform called Data Skrive. VanEgmond also has a new partner, Jake Kleiner, a software and fintech investor whose previous stops include U.S. Bank and Vista Equity Partners.
“Everyone in the real-money gaming industry is having their Amazon moment, going digital,” VanEgmond said in an interview. “Legacy casino businesses are almost like retail giants, like a Wal-Mart, and now need to become Amazon. And we’re investing in the technology and software solutions that enable that digital transition for these retail/entertainment businesses as the sector moves from vast majority physical to vast majority online.”
VanEgmond started Bettor Capital last year after leaving Barstool Sports. He’s negotiated two of the bigger U.S. sports betting deals, including Barstool’s $163 million partnership with Penn National Gaming (NASDAQ: PENN). Prior to that, he was an executive vice president at FanDuel, and launched a sale process that eventually led to Paddy Power Betfair buying around 60% of the company for more than $500 million.
Alongside the closing of its first fund, Bettor Capital also announced the formation of an advisory board of experts from around sports, gaming, media and entertainment. It includes Steve Kaplan (co-owner of D.C. United and Swansea City), Carl Sottosanti (former general counsel at Penn National), Carl Vogel (former FanDuel Group chairman), Julie Haddon (former NFL senior vice president) and Melissa Blau (founder of consultancy iGaming Capital).
Some of those advisers are also investors in the fund. Though specific names weren’t mentioned, VanEgmond said the other investors in the $50 million-plus fund were family offices and ultra-high-net-worth individuals from across sports and tech.
Since its launch last year, Bettor Capital has also done consulting work in addition to raising and investing. The group has represented teams in the NFL, NBA, MLS and MLB, including MLS club D.C. United in its 10-year agreement with FanDuel and the NFL’s Houston Texans in their multi-year deal with Caesars Entertainment (NASDAQ: CZR). VanEgmond said that consulting work was largely to help network for Bettor Capital’s investing, and will slow now that the first fund has closed.
The group expects to close its next two investments before the end of the month.
Best of Sportico.com
What NFTs Mean for Sports Business
SPACs: What a Special Purpose Acquisition Company Means for Sports
As Fubo Gaming prepares to launch its sportsbook entrant later this year, the company has signed a multi-year sponsorship deal with the Cleveland Cavaliers, looking to increase its brand recognition in Ohio before the state legalizes sports betting. Fubo ads will be prominent in Rocket Mortgage FieldHouse starting this season, with additional visibility coming across […]The Giants are at +700 to win the World Series.
The U.S. Court of Appeals for the Federal Circuit has affirmed that multiplayer modes in NBA 2K and Grand Theft Auto do not infringe a technology company’s patents for broadcast channels used in online communities. On Monday, a three-judge panel of the Federal Circuit held against Acceleration Bay, a Delaware LLC with its principal place […]The sheriff’s office said the booking photo, which was uploaded to its inmate list, was circulating social media.
It’s against NC law to engage in sexual activity with inmates. She also provided him tobacco, Mecklenburg sheriff says.
Cycling is actually more likely to help deepen and improve your sleep quality, according to a new research review.
HAMILTON, Bermuda, Oct. 06, 2021 (GLOBE NEWSWIRE) — Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has closed a previously announced agreement with Royal & Sun Alliance Insurance Limited (“RSA”), a wholly owned subsidiary of Toronto-based Intact Financial Corporation, to provide adverse development cover (“ADC”) for certain UK, Irish, and other business of RSA and its subsidiaries. The ADC provides £400 million of aggregate coverage in excess of a
When in doubt, pick the same stocks that lawmakers' spouses are buying? That's what young investors have been doing when it comes to trades made by House Speaker Nancy Pelosi's husband, Paul Pelosi.
Stock in electric truck maker Lordstown Motors is dropping after Morgan Stanley cut its price target for shares to $2.
Many of the companies that profited from colonialism and slavery hundreds of years ago are still thriving, writes David Whyte. Only now they’re threatening all life on Earth
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Many terrific businesses seem unstoppable — based in part on their past robust growth as well as on their growth prospects. Datadog (NASDAQ: DDOG) offers companies a cloud-based monitoring and security platform. The stock is popping because the company is.
ARK Invest keeps adding to some of CEO Cathie Wood's bigger sinkers, buying more shares of stocks that have fallen at least 40% from their all-time highs.
Further validating Moderna’s (MRNA) already highly successful Covid-19 vaccine program, on Tuesday the company announced that the European Medicines Agency (EMA) had given the go ahead for a third dose of its COVID-19 vaccine, mRNA-1273 (Spikevax), to be administered to severely immunocompromised individuals over the age of 12 years old. The booster shot is to be given at least 28 days after the second dose. “The authorization by the EMA, following FDA-authorization, and data published last mont
"I wish all this passion and energy that went to crypto was directed towards making the United States stronger," Citadel's Griffin said Monday.
The US trade deficit rose in August with imports overwhelming exports as the US economy bounces back from last year's pandemic shock, government data said Tuesday.
Investors gave shares of the publicly traded Manchester United (NYSE: MANU) football club (although we all know they really play soccer) a red card this morning, selling off the stock by 14.3% through 11 a.m. EDT. As announced this morning, the Kevin Glazer Irrevocable Exempt Family Trust and the Edward S. Glazer Irrevocable Exempt Trust, which own a combined 40.4 million shares of the company (almost 25% of shares outstanding, according to data from S&P Global Market Intelligence), will be selling 9.5 million of those shares in a secondary offering that will close on Oct. 8. Manchester United shareholders who aren't selling can't expect any benefit from this deal, because in a secondary offering by insider shareholders, the company doesn't receive any of the cash from the sale.
The Internal Revenue Service is struggling to keep up with a large volume of tax returns yet to be processed and phone calls from taxpayers for help, according to Stephen Mankowski tax chair of the…
Traders have a renewed interest in bitcoin, the world's biggest cryptocurrency, an executive at the Kraken exchange said.
The Education Department (ED) is rolling out a series of major changes to a notoriously troubled Public Service Loan Forgiveness (PSLF) program for student loan borrowers in public service.