In the latest episode of Industry Eye, Ed Pownall examined international developments, as three major operators in the betting space took aim at markets in Australia, the US and the Indian subcontinent.
The first operator looking at overseas growth was DraftKings, which expressed an interest in tapping into India, where the popularity of fantasy sports has begun to climb to new heights.
Pownall commented: “It does give them a USP against other operators and it is undeniably a massive market, but I think I’d plant a few more roots in the US before fighting on multiple fronts. It’s the right idea, just a case of not quite yet for me.”
Paddy Power – albeit not the operator itself, but rather Founder David Power’s son Paddy Power – is working on breaking into the US betting market with sports trading platform American SportZ Exchange (ASX).
Based in Ireland, the startup will be financed via a €500,000 crowdfunding campaign using the Dublin-based Spark Crowdfunding platform, based on a €4.5 million valuation.
Describing the pitch for the platform, Pownall said: “Players buy or sell virtual shares based on players’ performances. Luckily this mob has some funding and is run by my old colleague and Racing Post veteran – of nearly 2,000 years – Mike Griffin, so they’re in good hands and have good backing.”
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The third and final company to further its international expansion was Sportradar, which this week acquired cricket-focused data company InteractSport.
This takeover has not only boosted its presence not only in the sport of cricket but also in Australia – where its new asset is based – as well as in the Indian subcontinent.
“I think we often forget that in India and Pakistan, and their vast populations both at home and abroad, cricket is a hugely popular sport,” Pownall remarked. “I think this seems like a clever move from the Radar mob to me.”
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Lastly, Pownall briefly delved into the numerous Q1 2021 trading reports released this week, with firm’s such as Better Collective, Raketech, IGT and Scientific Games recording positive results.