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☆ How a culture of sports betting and fantasy gaming is emerging on college campuses
▼ + stars: | 2024-01-10 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +14 min

Noah, a 19-year-old who goes to college in Illinois, uses sports betting to keep up with his friends from high school. The expansion of legal sports betting in the US has fueled a widespread culture of gambling on college campuses, as savvy students find betting alternatives and workarounds for age limits and state restrictions. Many sports-loving college students like Marcus and Noah casually use fantasy gaming, sweepstakes, and betting to make and maintain friendships. BI spoke with seven college students and three researchers to learn more about what sports betting looks like on campuses. A culture of sports betting sustains friendshipsSince the expansion of legalization, sports betting and gaming have exploded on college campuses largely through word of mouth.

Persons: Marcus didn't, Marcus, Fliff, isn't, it's, — Marcus, they'd, Marcus isn't, Noah, Andrew, they've, Dr, Timothy Fong, Fong, Miles, Chris, hasn't, wasn't, he'd, that's, FanDuel, Jason Miyares, Fliff's, Cash, bettors, I'm, there's, It's, Jeffrey Derevensky, McGill, haven't, Derevensky Organizations: NFL, Business, Sports, ESPN Bet, Super, Sunday, Caesars, ESPN, Iowa State Locations: Virginia, Cancún, Mexico, Illinois, Venmo, Minnesota, California, New York , Florida , Maine, Michigan, Maryland, Florida, New York, Iowa

☆ 8 top sports-betting execs share their predictions for 2024, from the rise of AI to an acceleration in the growth of live betting
▼ + stars: | 2024-01-02 | by ( Margaret Fleming | Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

BetMGM CEO Adam Greenblatt is looking to Las Vegas as the new hub of sports and sports betting. The biggest surprise of 2023: "The speed at which Las Vegas has positioned itself as the center of the sports universe. Vegas now has an NFL team and a Las Vegas Aces team that became the first in 21 years to win back-to-back WNBA championships. "Las Vegas invented the sports betting industry and I believe it will give life to a new era in sports and sports tourism as the destination for marquee events." His top prediction for 2024: "In addition to sports betting going live in North Carolina, I expect 2024 to reflect an acceleration in the growth of live betting.

Persons: Adam Greenblatt, Greenblatt, BetMGM Greenblatt, He's Organizations: BetMGM, BI, Las, The Knights, Stanley, Vegas, NFL, Las Vegas Aces, Oakland, NBA, Bowl Locations: Las Vegas, Vegas, North Carolina

☆ Inside the WNBA's strategy to partner with companies like Deloitte and Google to propel the league — and how it'll leverage that growth in its next rights negotiations
▼ + stars: | 2023-12-04 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +7 min

She listened to her players and what they wanted from the league, including a higher salary cap, but knew she couldn't meet all of their needs. One partner, Deloitte, overhauled the WNBA's app, for example. The current rights deal for the WNBA, which is coming off its largest regular-season viewership in more than two decades, runs through 2025. The mid-season Commissioner's Cup is sponsored by league partner Coinbase. The streaming app WNBA League Pass also brought in viewership, as did deals with Meta and YouTube.

Persons: Cathy Engelbert's, Engelbert, It's, Coinbase, Ethan Miller, Engelbert's, Disney, Nielsen, Ion Organizations: WNBA, Business, Deloitte, Nike, Google, US Bank, Companies, NBA, YouTube, Disney, Team, Seattle Storm's, ESPN, ABC, Scripps Ion, CBS, Meta, Scripps Locations: Las Vegas

☆ Mojo, a sports-betting startup from Marc Lore and A-Rod that raised $100 million, is cutting 20% of its staff
▼ + stars: | 2023-11-30 | by ( Ashley Rodriguez | Margaret Fleming | ) www.businessinsider.com time to read: +1 min

The sports-betting company Mojo is laying off 20% of its staff. The A-Rod and Marc Lore-founded startup had previously announced $100 million in funding. Four people close to the company said Mojo is making a strategic shift toward its B2B business. Mojo, a sports-betting startup whose cofounders include MLB legend Alex Rodriguez and Jet.com cofounder Marc Lore, is laying off 20% of its staff, the company confirmed to Business Insider. A spokesperson for Mojo said the company was not selling its B2C business, but declined to comment on whether there was a strategy shift.

Persons: Marc Lore, Mojo, Alex Rodriguez Organizations: Mojo, Business

☆ 25 promising sports startups to watch, according to VCs and other top investors
▼ + stars: | 2023-11-28 | by ( Margaret Fleming | Ashley Rodriguez | ) www.businessinsider.com time to read: +1 min

Business Insider asked top sports VCs and investors for the most promising startups in the space. They came back with companies innovating in AI, tech, ticketing, media, betting, and more. Some companies like WSC Sports work with the pros, while others like ARod's Jump are yet to reach the market. Startups are upending nearly every corner of the sports landscape, from the way athletes train, to ticketing in stadiums, to how fans bet on sports. This story is available exclusively to Business Insider subscribers.

Organizations: WSC, Business

☆ The WNBA commissioner says the massive NIL success for women's college basketball players will be a 'huge positive' for the league
▼ + stars: | 2023-11-21 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +3 min

Name, image, and likeness is creating a new crop of superstars in women's college basketball who could be game-changers for the sport as a whole. Those players are already driving more interest in women's college basketball. But for many of the women's college basketball players, "they've got Nike and Adidas. The women's college basketball season has already been exciting for viewers, especially those following the sport's biggest stars. Here are the women's college basketball teams Englebert is watching this season:

Persons: Angel Reese, Hailey Van Lith, Cathy Engelbert, It's, Engelbert, Englebert, We'll, they've, They've, Reese, Van Lith Organizations: WNBA, Reebok, Adidas, Business, Nike, Gatorade, Mercedes, State Locations: Bay

☆ This college volleyball player has scored more than 40 NIL deals this year. Here's how she's advocating for women athletes at her university to work with brands.
▼ + stars: | 2023-11-20 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +5 min

Glover had under 10,000 followers on Instagram before the volleyball season started, and now she's past 30,000. Glover had the most new NIL deals this year of any athlete on the endorsement platform SponsorUnited, the company stated in a 2023 report. While the report tracked 19 of Glover's deals, Business Insider confirmed that she'd gotten around 40 NIL deals in total this year, and she said she's pacing to pass 50 with a holiday boost. "I think it's a great time for NIL," Glover told BI, "for at least me or any woman who's in sports and wants to start with content creation." She has also stood up for female athletes getting equal NIL opportunities at SMU.

Persons: Alex Glover, Glover, she'd, She's, Kendra Scott, DoorDash, They'd, It's, I'm Organizations: Southern Methodist University volleyball, Business, SMU, Buffalo Wild Wings, CVS Locations: Instagram

Athletes in 2023 have continued building lucrative careers off the field in media and entertainment. Business Insider is making a list of the top agents and managers helping athletes land these deals. Please submit nominations for the list using this form by December 4. Business Insider is looking for nominations for the top agents and managers helping athletes develop careers as content creators. Check out our 2022 version of this list for an idea of the types of agents and managers we're looking to include.

Persons: — Organizations: Service, Netflix Locations: Hollywood

☆ ESPN's VP of sports betting shares his keys to success for ESPN Bet and an inside look into the partnership with Penn
▼ + stars: | 2023-11-17 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +8 min

In other words, ESPN Bet has arrived. The companies announced in August their collaboration, with the operator selling its stake in Barstool Sports to rebrand Barstool Sportsbook as ESPN Bet. Screenshots from the ESPN Bet app. Providing easy transitions between the ESPN and ESPN Bet apps is a key focus to drive that metric, he added. — ESPN BET (@ESPNBet) November 10, 2023The move has given ESPN Bet an advantage on social media with 5.4 million followers on X, 2.7 million on Facebook, and 2.4 million on Instagram.

Persons: It's, Jay Snowden, Mike Morrison, Morrison, Scott Longley, DraftKings, Penn, Snowden, Jimmy Pitaro, Pitaro, I'm, cohesively we've, Keys, Fubo Sportsbook, Maxim Bet, it's Organizations: ESPN Bet, ESPN, Penn Entertainment, Sports, Business, Apple, Caesars, Penn, ESPN Penn, TheScore, Fox, Maxim, Yahoo, Walt Disney Company, ESPN BET, Facebook Locations: Penn, Las Vegas

☆ Read the 12-slide pitch deck a basketball media brand used to raise $2.7 million in its first round of funding
▼ + stars: | 2023-11-15 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +3 min

Matt Rodriguez has been bootstrapping his basketball media company, Ballislife, since 2005. This story is available exclusively to Business Insider subscribers. "I kind of ate, slept, and bled Ballislife for a number of years in my twenties," Rodriguez told Business Insider. Ballislife raised $2.69 million in an initial funding round that closed in August 2022 and was announced in January 2023. Here is the full 12-slide pitch deck Ballislife used in 2022 to raise $2.69 million to expand its basketball coverage.

Persons: Matt Rodriguez, Derrick Rose, Ballislife, Rodriguez, David Woodley, didn't, it's Organizations: NBA, West Coast, Business, Capital, —, Woodley, Twitter

☆ 6 ways ESPN's new sports betting app will leverage the network's talent and audience, from Pat McAfee to fantasy sports
▼ + stars: | 2023-11-10 | by ( Margaret Fleming | ) www.businessinsider.com time to read: 1 min

ESPN and Penn Entertainment gave on November 9 a first look at their new ESPN Bet app. Execs from both companies shared how the partnership will elevate each of their brands. Here are six ways Penn plans to leverage ESPN's brand and audience to elevate the sportsbook. ESPN and Penn Entertainment unveiled on November 9 a first look at their upcoming sports-betting app, ESPN Bet. Ahead of the app's November 14 launch, ESPN's vice president of sports betting and fantasy Mike Morrison and Penn's president and CEO Jay Snowden discussed at the ESPN Edge conference in New York how the sportsbook will leverage ESPN's iconic brand in hopes of shaking up the sports betting landscape and giving Penn an edge in the market.

Persons: Penn, Mike Morrison, Jay Snowden Organizations: ESPN, Penn Entertainment, ESPN Bet, ESPN Edge, Penn Locations: New York

☆ The founders of The Gist and Just Women's Sports describe what it's like to run a women-focused media company in a male-dominated industry
▼ + stars: | 2023-11-10 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +7 min

Ellen Hyslop cofounded in 2017 The Gist, a sports media company geared toward female fans. Three years later, Haley Rosen founded Just Women's Sports, making Instagram content about, well, just women's sports. In the male-dominated sports media industry, these female founders have built sustainable and successful businesses around women in sports. In 2022, women's sports received 15% of all sports media coverage, a study by Wasserman's The Collective found. "Every single person at Just Women's Sports adds so much value and is so influential and impactful in the company," Rosen said.

Persons: Ellen Hyslop, Gist, Haley Rosen, They're, Rosen, Billie Jean King, Hyslop, The Gist, That's, King, Kevin Durant, Allyson Felix, Abby Wambach, Sam Kerr, Kelley O'Hara, Elena Delle Donne, Haley, Michele Kang, Wasserman's, We're Organizations: Sports, Nike, Media, Comcast, Labs, King's Enterprises, Elysian Park Ventures, State, Brooklyn Nets, New York Liberty, Philadelphia 76ers, Washington

☆ A former NBA media exec explains how the league's next rights deal could end up 'pumping more money' into player contracts
▼ + stars: | 2023-11-07 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +5 min

Malkani served as the league's senior vice president of global media distribution from 2008 to 2015, focusing on digital and media rights. She explained how athletes will be impacted by the next NBA rights deal, as the value of sports rights skyrockets against the backdrop of crumbling regional sports networks and pay-TV bundles. While the new rights deal will increase salary caps, they'll go up by no more than 10% annually , the CBA says. How streaming rights could trickle down to playersThe NBA's current rights deals with Disney and Warner Bros. The league is likely to replicate that hybrid model of traditional and streaming providers to drive up the value of its next rights deal, Malkani said.

Persons: Shirin Malkani, she'd, Malkani, Perkins, they'll, WBD, It's, Max, Malkini Organizations: NBA, Media, CBA, Disney, Warner Bros, Discovery, ESPN, ABC, TNT, Apple, Paramount, YouTube, Diamond Sports Group, Phoenix Suns, Utah Jazz

☆ Overtime and NFL execs explain why they're teaming up to reach Gen Z sports fans on social media
▼ + stars: | 2023-11-02 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +5 min

The sports media company Overtime boasts that 83% of its audience is under 35 years old. The media company will also get the rights to use official NFL logos and intellectual property in its content. Chief content officer Marc Kohn credits the brand's growth with Gen Z audiences to Overtime's creator network. The company expanded into live and long-form storytelling recently with its coverage of its basketball league, Overtime Elite, which streams on Prime Video. Kohn said his team has taken what Gen Z fans like on TikTok and Instagram and applied that to the broadcasts.

Persons: Marc Kohn, Kohn, who's, Blake Stuchin, Stuchin, it's Organizations: ESPN, NFL, Pro Bowl, men's, OT7, YouTube, Nickelodeon, NBA

☆ The 15-page pitch deck a former Patreon employee used to raise $2.75 million for his sports creator app, and how he's getting athletes on the platform
▼ + stars: | 2023-10-31 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +5 min

Below are three key slides from the 10-page pitch to athletes and the full 15-page deck used to win over investors. Among them, seven are women, and six compete professionally while the remaining four are college athletes, Rajan said. In the pitch deck Grandstand used to get athletes on board, the company referenced YouTube sensation MrBeast to show how lucrative a creator career can be. Sandeep RajanGrandstand's pitch to investorsBut, before athletes could start earning on the platform, Grandstand had to raise capital to launch it. Here is the full 15-slide pitch deck Grandstand used to raise $2.75 million in its initial funding round:

Persons: it's, Sandeep Rajan, Rajan, James Nicholas, MrBeast, Forbes Organizations: Will Ventures Locations: Instagram

☆ These are 28 of the most influential women executives in sports media, driving deals with the NFL and NBA, expanding coverage of women's sports, and more
▼ + stars: | 2023-10-30 | by ( Margaret Fleming | Lucia Moses | Ashley Rodriguez | ) www.businessinsider.com time to read: +1 min

Robyn PearsonHyslop and two friends from college cofounded The Gist in 2017, and she continues to serve as head of content. While it's geared toward female fans, The Gist's content equally covers both men's and women's sports, inspired by the initial mission of its founders to include everyone in conversations about sports. "And I think that we're proving that you can do something different and still do it really, really well." Guides to specific sports break down the rules and document how women have shaped the game. The Gist's TikTok and Instagram platforms both have about 170,000 followers, with an additional almost 45,000 for Canadian sports news .

Persons: Ellen Hyslop, Robyn Pearson Hyslop, Gist, Hyslop Locations: Toronto, Canada

☆ The NBA is shooting for a new media rights deal worth up to $60 billion, nearly triple its previous pact, that will pay teams and players millions more
▼ + stars: | 2023-10-27 | by ( James Faris | Margaret Fleming | ) www.businessinsider.com time to read: +11 min

Media analysts widely expect the league to select at least three distributors for its next media rights deal after the current setup expires in 2025. Comcast's NBCUniversal could be a frontrunner for a spot in the NBA's new media deal alongside Amazon, Nispel said. NBA players could be poised to earn sky-high paydaysThe NBA's last media deal — the $24 billion contract it struck in 2014 — was nearly triple the value of its previous pact. The pressure is now on the NBA to deliver a media deal that satisfies teams, athletes, and fans. Still, Macquarie media analyst Tim Nollen is optimistic about the size of the NBA's next media rights deal.

Persons: Jessica Reif Ehrlich, disruptors, Brandon Nispel, Nispel, —, Shirin Malkani, who's, Perkins, Leron Rogers, that's, Mark Patricof, Tim Nollen, Nollen, Reif Ehrlich, Ehrlich Organizations: NBA, Media, ESPN, Warner Bros, TNT, Disney, Apple, NBC, Comcast, Wall Street, Bank of America, NFL, MLB, NHL, KeyBanc Capital, Amazon, Flagship, ABC, Prime, Industry, Patricof, Macquarie, Diamond Sports

☆ The WNBA Finals brought a surge of engagement for advertisers, new data shows
▼ + stars: | 2023-10-25 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +4 min

This year's WNBA Finals brought in more spectators than ever before and the most viewers watching from home in 20 years. Compared to last year's WNBA Finals, fans were 30% more likely to engage online with a brand they saw advertised than they were in 2022, EDO data show. Michelob Ultra ran the most effective ad series during the Finals, tracking 211% above the average Finals engagement rate over its six ads, per EDO. Both the WNBA Finals and playoffs metrics sit well above the average primetime broadcast and cable effectiveness for advertisers, EDO shows. Bosley Hair Restoration and Old Spice were 341% and 134% more effective than 2023 WNBA average, respectively, EDO data show.

Persons: EDO's, Laura Grover, Ultra, Jimmy Butler, Nneka Ogwumike, Oofos, Michelle Cardinal's, Dawn Staley, Darren Brown, Cardinal, Ally, Stephanie Marciano, thad, Bosley Organizations: Las Vegas Aces, EDO, NBA, WNBA, Growth Agency, Brands, Gatorade Locations: York

☆ The 16 most valuable global AI companies in sports, plus other takeaways from new data on VC investment in the sector
▼ + stars: | 2023-10-19 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +6 min

While generative AI startups are attracting more investment overall, 2023 could be a notably slow year for venture capital investment in sports AI following several years of activity, according to new data from PitchBook. The year could mark the lowest level of investment in the sector since 2018 when PitchBook tracked just under $200 million in VC activity. Both those years had 114 VC investments, compared to just 54 in 2023 through mid-October, PitchBook data shows. These are the top 16 highest-valued sports AI companies globally in 2023, according to PitchBook:1) SigmaStar — $4.55 billion. The Beijing-based computer vision technology company offers solutions in sports and health, evaluating movement in real-time, according to its website.

Persons: PitchBook, Hudl, STATSports, Creatz, Ligatech, Simplebet, Zepp Organizations: Yi Technology, WSC Sports, Cleveland Cavaliers, Kakao, Arsenal FC, US, National Soccer Team, Duke University, Kansas City Chiefs, Ligatech, Tempus, Francisco's Tempus, Chelsea FC, NFL, Sports, NBA, MLS, Premier League, AI Research Locations: deepfakes, Beijing, Israel, New York, Korean, Europe, Mexico, Lincoln , Nebraska, Northern Ireland, Shanghai, PitchBook, Los Angeles, China, Vancouver

☆ DraftKings edged out FanDuel for the first time as the market-share leader in US online gambling, a new report shows
▼ + stars: | 2023-10-19 | by ( Margaret Fleming | Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

There's a new top dog in US online gambling. DraftKings edged out rival FanDuel for the largest portion of online gambling market share in the US, according to a Wednesday report from the market research firm Eilers & Krejcik Gaming. DraftKings had amassed about 31% of online gambling gross gaming revenue in the third quarter through August 23, while FanDuel's market-share lead had dipped to 30%. But DraftKings' share has steadily grown steadily since, per the report. FanDuel, meanwhile, has fallen from a Q1 2023 peak of 37% online gambling share.

Persons: FanDuel, DraftKings, sportsbooks, Penn, BetMGM Organizations: Krejcik, Gross, Golden, ESPN Bet, Caesars Entertainment, FanDuel, Wall Locations: BetMGM, Bet365

☆ Check out the pitch deck the WNBA's Seattle Storm used to sell stakes that raised the team's valuation to a record-setting $151 million
▼ + stars: | 2023-10-17 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +5 min

Since 2008, the WNBA's Seattle Storm has been owned by three local businesswomen: Lisa Brummel, Ginny Gilder, and Dawn Trudeau. Their first decade owning the Storm was about learning how to run the business, Brummel told Insider. The ownership group closed in February 2023 a $21 million raise, Brummel said, which will go toward the new $64 million facility and working capital. The Seattle Storm currently practice in the basement gym of Seattle Pacific University, where Brummel said they get four hours of access per day. "What we've actually done is curated a list of people who really care about the team," Brummel said.

Persons: Lisa Brummel, Ginny Gilder, Dawn Trudeau, Brummel, we're, It's, aren't, Gilder, Trudeau, Michelle Cardinal, Cardinal Organizations: Seattle Storm, NBA, SuperSonics, Oklahoma City, Storm, WNBA, Chicago Sky, Las Vegas Aces, Seattle Pacific University Locations: Seattle, Oklahoma

☆ A sneakerhead built a YouTube empire with 1.1 million subscribers. Here's how much he makes a year from ads and sponsorships.
▼ + stars: | 2023-10-16 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +6 min

This story is available exclusively to Insider subscribers. Fowler had around 150,000 YouTube subscribers at that point. The YouTube channel, now with 1.1 million subscribers, brought in about $485,000 in gross revenue from advertising and sponsorship deals last year. But Fowler doesn't just stick to YouTube — his budding business empire also includes sales on the live-shopping platform Whatnot and his own apparel company. The larger portion of Fowler's YouTube revenue comes from ads, which brought in an estimated $292,500 in 2022, Insider verified with documentation of the earnings.

Persons: Seth Fowler, Fowler, Apthcry, he's, YouTubers, it's, time's, I've, Christmastime, sneaker giveaways, Apple, He's, Ye, influencers, Qias Omar, Amber Vittoria Organizations: YouTube, NY, Adidas, Facebook

☆ How a sneakerhead built a YouTube empire with over a million subscribers and $485,000 in annual revenue from ads and sponsorships
▼ + stars: | 2023-10-13 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +6 min

In the sports world, betting and gambling startups have started the last two years raising fewer and fewer funding dollars. While funding is harder to come by, startups are also facing changes in the world of sports business and technology. Insider recently released a list of the top VCs investing in sports and asked their founders, CEOs, partners, and directors what they would tell startups trying to break through. Chris GroveKey investments: Acies Investments and EKG Ventures are focused on sports, gambling, and technology. When we invest in a tech company, we have four criteria.

Persons: Tom Loverro, Cole Van Nice, Chris Grove, Chris, you've, There's, Courtside, Tom Brady, Michael Strahan's, Meredith McPherron, Alex Rodriguez, Topgolf Callaway, Brad Farkas, Steve Ahern, Lance Dietz, Craig Thompson, Michael Proman, Proman, Wayne Kimmel, SeventySix, It's, Lloyd Danzig, Sharp Organizations: Elysian Park, Acies Investments, EKG Ventures, Courtside Ventures, of Sports, Elysian Park Ventures, Club, Kinetics, PGA of America, HBSE Ventures, KB Partners, Mindspring, Scrum Ventures, Ventures, Japanese, Boom Entertainment, SeventySix, Vegas Sports Information, Inc, Entrepreneurs, Sharp Alpha Advisors Locations: Chris Grove, Chicago

☆ Check out the animated slides that helped a golf-betting app raise $2 million from VCs and $50,000 from users
▼ + stars: | 2023-10-03 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +6 min

LoopGolf is an on-course betting app that lets golfers wager with their friends on their own games. The startup raised $2 million from VCs and $50,000 from supporters through a newsletter callout. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementWhen Matt Rum worked at Square on developing Cash App, he and his coworkers played a lot of golf on the weekends. Rum said the multiplayer experience has also helped drive customers toward the app because users are incentivized to get their friends to sign up.

Persons: —, Matt Rum, Thomas Reinholm, Reinholm, Rum, LoopGolf, it's, Mike Bartels, We've, we're Organizations: Service Locations: Rum, VCs, LoopGolf

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