Week 37, 2023

Hey, welcome to all new subscribers since last week 🤝. This week the industry descends onto Barcelona for SBC’s big event - enjoy it if you’re there!

In this issue:

• A new operator launches with a unique model

• 4 new opportunities in the Deal Corner

• 3 open jobs that we think are pretty cool opportunities

This issue is brought to you by GeoComply, a leading provider of cutting-edge anti-fraud and geolocation solutions that detect location fraud and help verify a user’s true digital identity.

Now let’s jump in… ⤵️

📰 Headline news

• Prime Sports introduced its low-margin and winner-friendly bookmaking model in Ohio, the first of several planned states. (Link)

• New props-style DFS site Units launched, connecting fantasy with sports narratives. (Link)

• AI-driven sports betting platform Rithmm launched subscription platform. (Link)

• Odds On Compliance launched Playbook Brazil, expanding its compliance management tools into a third continent. (Link)

Are you an industry startup with news to share? Send us your PR for inclusion here.

Are you an iGaming founder or senior executive launching a business in the US?

We know that building a successful startup is hard and it’s not easy to do it alone, so we’re here to help.

The Challenger Series Summit is a unique networking opportunity to learn from US iGaming founders and entrepreneurs, who will be sharing the hacks, tips, and tricks to achieve high growth.

RSVP to attend the Las Vegas Summit on Oct 8, 2023 before making your way over to G2E!

💬 Ink & airwaves

The best of what we read and listened to last week:

• 🎙️ Ep. 82 of The Betting Startups Podcast featured Sim Harmon, founder of Kutt. Sim explains Kutt’s concept of P2P social betting, his experience bootstrapping it, and making sacrifices as a founder. Listen now (36:03): Apple Podcasts | Spotify | Web

• 🎙️ Underdog CEO Jeremy Levine stopped by the Joe Pomp Show to discuss the growth of sports gambling and fantasy games, the regulatory environment, product innovation, and more. Listen now (34:41): Apple Podcasts | Spotify

• 📚 NFL week 1 in numbers: GeoComply recorded 56% more geolocation checks last week compared to week 1 2022 (242 million of them this year!). (Link)

• 📚 Nicholas Green, General Counsel over at Underdog, published a whitepaper in response to the ongoing debate around the interpretation of fantasy sports laws. (Link)

• 📚 Speaking of whitepapers: STX, the first regulated betting exchange in Ontario, published its own whitepaper to answer some common questions about its technology stack. (Link)

• 📚 Q&A with Alexander Monahan, co-founder of OddsJam, who talks about growing the company - and a hint at future M&A activity. (Link)

• 📚 The ‘G2E Survival Guide for Founders’ includes useful tips and advice for first-time founders attending the big show next month in Vegas. (Link)

Are you reading (or writing) something that you think belongs here? Hit reply and send it to us for inclusion

Cut through the noise and get the top sports stories from our friends at Savage Sports!👇

🤝 Deal corner

4 new deals hit our inbox this week, which we hereby present for your consideration 🤑

Founders: want to get your deal in an upcoming issue? Submit details here.

• 🆕 Early-stage sports betting startup just launched worldwide on the app store. Early to a trend that has yet to sweep the USA. Actively seeking capital to hit key milestones and accelerate growth. Looking to raise $1.5m-$2m seed round.

• 🆕 Socially-driven DFS platform raising $750k. Beta launching in early November. Fantastic founding team backed by multi-exited and celebrity board members.

• 🆕 London-based B2B iGaming platform provider raising up to £1.3m to scale best-in-class Player Account Management system and add an innovative rewards suite. Currently onboarding first customer and in discussions with 5 additional potential customers.

• 🆕 Differentiated + revenue-generating betting platform looking for additional investors to join its $1m+ seed round. Limited space remaining. Holds a patent and founders have domain expertise.

Existing deals that are still open:

• (9/11) Early stage startup building golf's first real-money super app. Launched real-money gaming app this summer, acquired over 7k golfers, and processed over $250k in gross payment volume. Closing pre-seed round in the next month, less than $100k unsubscribed, $10k minimum check.

• (9/11) B2C app and the ultimate beginner-friendly funnel into sports betting. Gamification generates retention and vitality with Gen Z audiences. Over $300k TTM revenue with incredible ability to scale. Seeking low-six figure investment to grow and build adjacent revenue streams.

• (9/11) iGaming startup in SF Bay area seeking seed money for white label tech that can drive handle and profitability for operators. Tech already built. User testing via Free to Play product. Seeking investors with existing network to operators. Minimum $25k.

Are you an investor that wants more details on these opportunities? Hit Reply and we’ll tee up an intro.

(also: our lawyers told us to say that none of this is investment advice, and we have not vetted the opportunities presented here. DYOR.)

🗓️ Industry event calendar

Upcoming events relevant to early-stage companies in the space:

• G2E is returning on October 9-12. Join over 25,000 industry professionals and 350+ exhibitors for this all-in-one experience in Las Vegas. Use code BSP for a FREE expo hall pass using this link ($269 value!).

• SBC Summit Latinoamérica is coming to Miami Oct 31 - Nov 2! Don’t miss this conference and trade show for senior executives in the Latin American betting and gaming industry.

  Use code BETTINGSTARTUPSVIP for 50% off your Full Event Pass ($300 discount!) Event Tickets

• Registration now open for NEXT Summit New York 2024! The much anticipated iGaming NEXT New York event returns March 6-7, 2024 in a new state-of the-art venue in Manhattans financial district. The summit is focused on connecting startups with investors and operators with suppliers, which makes it THE conference where serious business gets done. Limited tickets available at super early bird rates! Ticket info.

💼 Great gigs

3 of the top jobs we saw last week:

• Here’s a fun one: industry-focused VC firm SeventySix Capital is looking for a Digital Marketing Manager. (Link)

• Also a fun one for somebody looking to break into the space: YC-backed Novig has internships open to support its Colorado launch. (Link)

• Popular social betting app Pikkit is looking for a Product Enginner to join its New York-based team. (Link)

That’s a wrap!

But before you go:

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