FinTech news in sports betting category

Meanewhile, you have Polymarket, a global information markets platform for sports betting; BetDEX, a global decentralized sports betting exchange; Aver, a decentralized betting and prediction exchange; and Divvy, a decentralized betting protocol. Frontrunner is a zero gas fee, decentralized sports prediction market built on the blockchain, employing Injective, a protocol built on COSMOS, to support decentralized financial markets and order books, usinsing blockchains like Ethereum and Solana. And, thus is is that New York-based Frontrunner, a decentralized sports prediction market, has now raised a $4.75M funding round by Susquehanna Private Equity Investments LLP. The company launched its testnet last quarter, and plans to add the FIFA World Cup 2022 market, and extend the offering in its existing leagues NFL, NBA and Premier League, by the end of this year.

HotStreak itself makes money both from the entry fees it charges players to use its platform, which it says are listed on the app at the start of each game, and plans to monetize its software by selling it to other sports betting platforms, according to Dean. While Dean admitted that the overall market for DFS providers could shrink as more U.S. states bring legalized sports betting online, he believes the overall sports gaming market is still set to grow significantly. HotStreak’s decentralized SHARP protocol aims to tackle both sides of the issue from a payments and custody perspective by facilitating near-instant payments and handling custody of assets based on a set of rules pre-determined within the protocol itself rather than relying on counterparties to initiate payments to other players. Focusing on DFS to start gives HotStreak a regulatory advantage, he explained, although the platform will likely expand into offering more traditional sports betting products, which typically require more expensive legal disclosures.