When sports betting started popping up on prediction market sites, companies like DraftKings and FanDuel felt they had to respond in kind.
Sports on prediction markets are not subject to regulation from state sports betting authorities, but that could change.
Experts say the lag in betting on women’s sports is a missed opportunity.
Same-game parlays are growing in popularity among casual sports bettors. The payouts are bigger, but odds are longer, so sports books are happy to take the bet.
Forty percent of Americans now say they bet on sports.
Ticket prices rose 10.3% in the last year. The seats are plush, the resale market has grown and dynamic pricing extracts more money from fans.
Some advocates are calling for federal support to treat gambling addiction — and to enact limits on wagering apps.
The Texas legislature has kept sports betting illegal for now, but there’s a massive amount of revenue to be made in the state.
The company hopes to win a piece of the nearly $85 billion global sports betting market, now dominated by DraftKings and FanDuel.
Gaming company Penn Entertainment is paying $2 billion over 10 years to use ESPN’s name in its gambling app and website.