Grand View Research estimates that by 2030, the worldwide sports betting industry would be worth $182.12 billion, up from the 2016 total of $76.75 billion.
That’s why there are so many new businesses swarming this sector. That’s why HotStreak, a web3 platform for DFS competitions, is banking on the premise that decentralised payments are the best option for DFS sites.
In the meanwhile, there’s Polymarket, a worldwide platform for sports betting information markets; BetDEX, a global decentralised sports betting exchange; Aver, a decentralised betting and prediction exchange; and Divvy, a decentralised betting protocol. Furthermore, there is a growing market, as seen by the 279% increase in crypto app downloads attributed to Super Bowl advertisements.
Consequently, Frontrunner, a decentralised sports prediction market located in New York, has closed a $4.75M fundraising round led by Susquehanna Private Equity Investments LLP. Participants in the funding round included Soma Capital, Gilgamesh Ventures, FBG Capital, the Entrepreneurs Roundtable Accelerator, Toy Ventures, Gaingels, Ledger Prime, WAGMI Ventures, and NOA Capital.
So, what’s special about Frontrunner?
Subtly charming pop culture geek. Amateur analyst. Freelance tv buff. Coffee lover