Weeks 48 & 49, 2023

4 new funding announcements, Pitch ICE opens up applications, and 1 new startup raising money in the Deal Corner

Hello, and Happy Hanukkah to all that are celebrating!

We’re back with the latest from the betting industry’s early-stage ecosystem over the last couple weeks.

But real quick: we just opened up our sponsorship inventory for 2024, which includes this newsletter, The Betting Startups Podcast, and The Business of Betting Podcast.

If you’re a B2B supplier in the space and want to hangout where your current (and prospective) customers are, you could do worse than working with us :)

Hit reply to this email to request details on sponsorship options. Inventory is super limited.

Now let’s get into it… ⤵️

📰 Headline news

  • Australian operator Picklebet closed a fully subscribed $15m Series A, led by Discerning Capital and DRIVE by DraftKings. (Link)

  • Fantasy sports and betting content provider FTN Network closed an oversubscribed $3m seed funding round. (Link)

  • Parimutuel betting platform Sparket secured strategic investment from former NBA champion Metta World Peace. (Link)

  • WagerWire took its marketplace live on Red Rock’s STN Play platform. (Link)

  • Early-stage operator Mojo Announced a 20% staff reduction amid strategic pivot. (Link)

  • NBA took an equity stake in nVenue to further microbetting exposure. (Link)

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

💬 Ink & airwaves

The best of what we read and listened to since the last issue:

  • 🎙️ Ep. 92 of The Betting Startups Podcast featured Ty Masterson and Dan Gentile from Bettle Fantasy Sports. They discussed the season-long fantasy category, which Bettle is enhancing by introducing DFS-style mechanics to it. Listen now (28:23): Apple Podcasts | Spotify | Web

  • 🎙️ Ep. 93 of The Betting Startups Podcast featured Shubs Kausal & Jaiden Sarai from SharpStakes. They discussed building SharpStakes as full-time students, Gen-Z’s relationship with sports betting, and bootstrapping to profitability. Listen now (26:13): Apple Podcasts | Spotify | Web

  • 🎙️ Ep. 3 of The Gamble & The Glory featured Omer Sattar from Sightline Payments. He talked about his experience raising over $400m, reaching unicorn valuation status, and dropped just a ton of valuable insights throughout this episode. Listen now (44:23): Apple Podcasts | Spotify | Web

  • 🎙️ Ep. 6 of the always excellent Vested Interest podcast from Next.io dropped, and as usual, was a worthy listen for anybody building a business at the early stage. Listen now (1:15:00): Apple Podcasts | Spotify 

  • 📚 Houlihan Lokey’s CEO Spotlight Series featured Evan Kirkham, co-founder and CEO of Outlier. (Link)

  • 📚 Tom Waterhouse of Waterhouse VC discusses the role of taxation and regulation in his monthly article. (Link)

  • 📚 SGG Media co-founder and CEO Troy Paul explains why Gen Z is the key to sports betting growth. (Link)

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

🗓️ Industry event calendar

Upcoming events relevant to early-stage companies in the space. Keep an eye out for a new discount code below!

  • ICE opened up applications for Pitch ICE, the annual startup pitch competition. 5 companies will be selected to pitch to a live audience. Applications accepted until January 5. Apply now.

  • The Fantasy Sports & Gaming Association (aka FSGA) is hosting its annual winter conference February 13-14 in Las Vegas. Early bird pricing available if you book by January 15. Register now.

  • NEXT Summit New York 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. Btw: we have the ONLY discount codes available for this conference, but they’re very limited, so buy your ticket now. Reply to this email to say hello, and we’ll respond with your $100 discount code. Get your ticket.

  • SBC Summit North America is back! The biggest instalment of the event to date, 5,000 industry professionals will come together in New Jersey May 7-9, 2024 to share insights, foster collaboration, and establish meaningful connections. Super early bird tickets are now available. More info.

🤝 Deal corner

1 new deal hit our inbox this week, and 1 previous deal has an update. Take a look 👇

(Psst, founders: want to get your deal in an upcoming issue? Submit details here)

  • 🆕 Raising: Licensed sportsbook operator in a regulated market with disruptive, globally-scalable USP is seeking bridge capital to fund imminent relaunch on improved platform. Bridge round capped at $200k at $4m valuation, with small investments welcomed. Institutional investors can also inquire about mid-2024 Series A to support geographical expansion.

  • Updated deal: Leading provider of odds/pricing data for alternative sports raising a $2.5m seed round to scale already growing operations with Tier 1 sportsbook operators, sports leagues, and global media properties. Round 75% subscribed, and on track to close this month!

Existing deals that are still open:

  • Raising: Experienced team gamifying in-play betting with 25,000 FTDs in UK, working B2BC with media and B2B with operators. Product built out, closing in on profitability, and $400k left of $1.2m round. $50k minimum participation.

  • Domains: Portfolio of 50+ quality .com domain names being sold individually, including: Bet.ai, ewager.com, and microbetting.com. Reply to receive the full list with prices.

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.)

That’s a wrap! If you’re getting any value from this newsletter, please consider forwarding it to just one friend - I appreciate the support 🙏


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