Recent developments in sports betting sector

Several recent developments in the sports betting sector have hit the headlines. From a sports merchandise company wanting to grow into the sports betting market, an existing established sportsbook being acquired by a trade and technology company, to an online lottery operator concluding a fundraising round.

Firstly, a popular sportsbook PointsBet was acquired by financial behemoth Susquehanna International Group (SIG) with a 12.8 percent stake. The investment is projected to lead PointsBet to strengthen its sports betting activities across North American markets.

Meanwhile, ESPN’s president Jimmy Pitaro recently said that the company may expand its swings into the sports betting industry. He told The Athletic’s Sport Media Podcast that sports betting presents the network with another “growth” potential. Pitaro further explained, “It’s something we need to be doing. It’s something that our fans are expecting from us. So it’s not a nice to have, it’s pretty much at this point a must-have.”

On the lottery front, Jackpot, a digital platform that allows people to buy valid state lottery tickets online, had a big announcement: the firm closed on $35 million in Series A investment, which mainly came from the world’s largest investors and operators in sports, media, and entertainment.

Fanatics, a growing sports merchandise brand, is said to be in discussions to takeover Tipico, a German sportsbook operator. Moreover, Fanatics submitted a trademark registration for a mobile sports betting application under the “BetFanatics” name late last month, and the Maryland Lottery and Gaming (MLG) Commission approved the firm for a retail sport betting operator license just this week.

Lastly, the Ontario Lottery and Gaming Corporation (OLG) has finalized a partnership with the NBA. OLG will continue to use NBA betting data and incorporate official league markings and emblems into certain products as part of this agreement. It will also work with the NBA to provide a wide range of compelling basketball content for OLG users throughout its sports betting, lottery, and iGaming products.