Welcome to the June edition of the Betting Startups Newsletter!
This issue is brought to you by Xpoint, a leading provider of geolocation technology for the sports betting, iGaming and Daily Fantasy Sports industries in North America.
Here is what we read, heard, and saw in the betting industry’s early-stage ecosystem this month:
The leading sports betting and iGaming event in North America returns to New Jersey July 12-14, which includes the First Pitch competition for a $60k prize. Tickets still available!
⛈️ Headwinds in the headlines
Sports-betting startup valuations are being "interrogated" and it's getting harder for some companies to raise money amid the economic downturn.
Xpoint is officially live in North America! 🚀
(Sponsored) Xpoint Verify, Xpoint’s real-money gaming geolocation product developed specifically for sportsbook, iGaming and gambling operators, is now live, in-market for the first time in Canada with Xpoint partner SkillOnNet, the online casino operator which recently launched in Ontario.
💰 Freshly filled bags
Novig has set its sights on ramping up its efforts to take on the US sports betting industry, receiving backing from Y Combinator
Tally Technology has announced the closing of an oversubscribed $4m series seed funding round led by Acies Investments.
The company’s CEO believes that the investment will take Triggy to the next level.
Automated trading and risk management solutions provider Huddle Tech has secured a strategic investment from Las Vegas Sands
Sports Gambling Guides, the social media sports marketing company, has received a $2m investment from venture capital firm, Astralis Capital.
🏆 Niche sport apps FTW
The popular score-at-home app has gotten into the daily fantasy sports world with a game that takes everything into account.
GridRival, the sports betting startup dedicated to motorsports, has bolstered its advisory board with top-tier executive talent.
👀 Filed under "this looks useful"
Introducing Insider’s database of startups innovating in US sports betting !! businessinsider.com/top-sports-bet…
— Ashley Rodriguez 📺 (@AshleyRReports)
Jun 21, 2022
💡 Innovation Spotlight: AthleteX
Every month, we feature one startup that we think is doing something particularly novel and unique. This month, the Innovation Spotlight is on AthleteX.
Who: Kevin Kamto & Robbie Klages
What: AthleteX is a prediction market protocol that allows users to invest in the performance of their favorite athletes, one sport at a time. Think of it is fantasy sports meets the stock market using cryptocurrency technology.
Why it’s innovative: They've created a cryptocurrency called Athlete Performance Tokens (APTs) that allows users to predict the price performance of baseball athletes. Users mint an APT pair of their favorite athlete and then sell a long or short position to the market based on if they think the price of the athlete is going to go up or down. When the season is over, the APTs are settled. This unique model has been dubbed 'SportsFi' by the AX community.
When: The initial idea of AX started around fall 2020, and the team has been steadily focused on refining the model & building the product since then.
Where: Learn more at athletex.io. The product is in beta, so expect low liquidity, high slippage, and a few bugs. v1.0 will launch in August.
🚀 Join a rocket ship
Amazing opportunities at these awesome companies, brought to you by BettingCareer.com:
This role will oversee CRM and its campaigns across all Gaming Society channels, most importantly our email newsletter and website.
This role is perfect for a developer experienced with NodeJS, ReactJS and mobile app builds. Sports betting knowledge is a plus but not required!
This critical role will connect the data required to complete regulatory forms and license applications, Onecomply’s database, and our OmniFill automation technology
🏁 The finish line
That's it for this month!
If you have any tips on newsworthy headlines, or are a startup looking with something big to share, hit Reply to this email and let us know ✌️