Top 15 Sports Betting Investors in the US
Top 15 Sports Betting Investors in the US
The sports betting industry in the US has experienced explosive growth, particularly since the repeal of PASPA in 2018, enabling states to legalize sports wagering. Companies in this space range from online sportsbooks and fantasy sports platforms to tech startups facilitating innovative betting solutions. Many businesses now leverage mobile applications and user-friendly interfaces, aiming to enhance the sports betting experience. Insights show that involvement in eSports betting is increasing, tapping into younger demographics and redefining engagement. As partnerships with traditional sports leagues strengthen, the industry is poised for further expansion and evolving business models in the coming years.
This article discusses 15 notable investors in the US sports betting sector. Notably, the list comprises both corporate players and venture capital firms, headquartered in key cities like San Francisco, Los Angeles, and New York. They range in size from small teams to large organizations, with investments totaling over 440 deals in 2024 among them. Founded from as early as 1983 to recent startups in 2022, these investors highlight a growing focus on innovative market opportunities and technology integration within sports betting, underlining their commitment to evolving this dynamic industry.
Top 15 Sports Betting Investors in the US
1. 500 Global
- Website: 500.co
- Type: Venture Capital
- Headquarters: San Francisco, California, United States (USA)
- Founded year: 2010
- Headcount: 201-500
- Number of deals in 2024: 98
- LinkedIn: 500-startups
500 Global is a venture capital firm and startup accelerator based in San Francisco, California, founded in 2010. The firm specializes in investing in early-stage technology companies, providing funding, mentorship, and resources to help founders scale their businesses. With a global focus, 500 Global has made a diverse range of investments across various sectors. Notably, they invested in Unikrn, a Seattle-based eSports betting platform, which raised $7 million in a funding round that included prominent investors like Mark Cuban. This investment highlights 500 Global's involvement in the sports betting industry, alongside their broader portfolio that includes fintech and technology startups.
2. Y Combinator
- Website: ycombinator.com
- Type: Venture Capital
- Headquarters: San Francisco, California, United States (USA)
- Founded year: 2005
- Headcount: 51-200
- Number of deals in 2024: 802
- LinkedIn: y-combinator
Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that includes resources like the Startup School and co-founder matching services. Over the years, Y Combinator has successfully launched more than 4,000 startups, establishing itself as a key player in the technology startup ecosystem. Among its diverse portfolio, Y Combinator has made notable investments in the sports betting sector, including a recent investment in BeeBettor, which raised $500,000 in a Pre-Seed round on September 25, 2024. This investment highlights Y Combinator's engagement with innovative companies in the sports betting industry, alongside its broader focus on technology startups.
3. HUB International
- Website: hubinternational.com
- Type: Corporate
- Headquarters: Chicago, Illinois, United States (USA)
- Founded year: 1998
- Headcount: 10001+
- Number of deals in 2024: 37
- LinkedIn: hub-international
HUB International Limited is a corporate insurance brokerage based in Chicago, Illinois, founded in 1998. With over 10,000 employees, the firm provides a comprehensive range of insurance and risk management services to businesses, organizations, and individuals. Their offerings include business insurance, employee benefits, retirement services, and personal insurance, aimed at helping clients manage risks and protect their assets across various industries. In recent years, HUB International has made significant acquisitions that enhance its capabilities in the sports and entertainment sectors. For instance, the acquisition of Risk Point Consulting in July 2021 bolstered their sports and entertainment specialty practice, indicating a focus on the sports industry, which is closely related to sports betting. Additionally, their acquisition of Dissinger Reed in August 2021, which specializes in providing insurance for over 200 colleges and universities, further aligns them with the sports sector, as many of these institutions are exploring partnerships with sports betting entities. These strategic moves highlight HUB International's growing involvement in areas that intersect with sports betting.
4. SV Angel
- Website: svangel.com
- Type: Venture Capital
- Headquarters: San Francisco, California, United States (USA)
- Founded year: 2009
- Headcount: 1-10
- Number of deals in 2024: 44
- LinkedIn: sv-angel
SV Angel is a venture capital firm based in San Francisco, California, founded in 2009. The firm specializes in investing in early-stage and growth-stage technology companies, providing not only financial backing but also strategic advice and access to a vast network of industry experts. Among their notable transactions, SV Angel has invested in Underdog Fantasy, a platform that simplifies and enhances the fantasy sports experience, raising significant funding in both seed and Series A rounds. This involvement in a fantasy sports app highlights their engagement with the sports betting sector, showcasing their potential interest in this industry.
5. Accel
- Website: accel.com
- Type: Venture Capital
- Headquarters: Palo Alto, California, United States (USA)
- Founded year: 1983
- Headcount: 51-200
- Number of deals in 2024: 101
- LinkedIn: accel-vc
Accel is a venture capital firm founded in 1983, based in Palo Alto, California, specializing in investing in startups and early-stage companies primarily in the technology sector. The firm has a global presence with additional offices in London, India, and China. Accel has been involved in various notable transactions, including significant investments in companies like Sorare, a soccer NFT trading platform that raised $68 million in a Series B round and $48.6 million in a Series A round. This investment highlights Accel's engagement in the sports gaming and NFT space, which is closely related to the sports betting industry. Other investments by Accel include companies like Breezy, Clinkle, and Emergent VR, showcasing their diverse portfolio across different sectors.
6. FJ Labs
- Website: fjlabs.com
- Type: Venture Capital
- Headquarters: New York, New York, United States (USA)
- Founded year: 2015
- Headcount: 11-50
- Number of deals in 2024: 169
- LinkedIn: fj-labs
FJ Labs is a venture capital firm based in New York, founded in 2015, that specializes in investing in marketplace and network effect businesses. They provide capital and strategic guidance to entrepreneurs across various industries, including e-commerce and logistics. With a portfolio of over 1,000 companies, many achieving unicorn status, FJ Labs has demonstrated a strong track record in supporting innovative startups. Notably, they have invested in Betr, a sports betting platform, raising a total of $50 million in Series A funding across two rounds in 2022. This involvement highlights their interest in the sports betting sector, showcasing their capability to identify and support emerging companies in this space.
7. The Raine Group
- Website: raine.com
- Type: Venture Capital
- Headquarters: New York, New York, United States (USA)
- Founded year: 2009
- Headcount: 201-500
- Number of deals in 2024: 8
- LinkedIn: the-raine-group
The Raine Group is a New York-based investment bank founded in 2009, specializing in advisory and investment services within the technology, media, and telecommunications sectors. They provide services such as mergers and acquisitions advisory, private capital raising, and growth equity investments. Recently, The Raine Group has made significant investments in the sports betting industry, including a Series A funding round for Midnite, a sports betting platform, where they led a $16 million investment and secured a board position. They also participated in funding for Fliff, a company focused on sports betting, further demonstrating their engagement in this sector. Their diverse portfolio reflects a strategic approach to enhancing growth in emerging markets, including sports betting.
8. Elysian Park Ventures
- Website: elysianpark.ventures
- Type: Venture Capital
- Headquarters: Los Angeles, California, United States (USA)
- Founded year: 2016
- Headcount: 1-10
- Number of deals in 2024: 3
- LinkedIn: elysian-park-ventures
Elysian Park Ventures is a venture capital firm based in Los Angeles, California, founded in 2016. The firm specializes in the sports industry, providing capital and strategic advisory services to companies at various stages of growth. Their focus is on sectors that intersect with sports, technology, health, and commerce. Notably, Elysian Park Ventures has participated in several significant transactions relevant to the sports betting context, including a $35 million Series A funding round for Jackpot, an online lottery ticket app, and a $14.1 million Series A2 funding for Splash Sports, which develops peer-to-peer sports strategy games. These investments highlight their commitment to innovation and expansion within the sports sector, particularly in areas related to sports betting.
9. Tcg
- Website: tcg.co
- Type: Venture Capital
- Headquarters: Los Angeles, California, United States (USA)
- Founded year: 2010
- Headcount: 51-200
- Number of deals in 2024: 5
- LinkedIn: the-chernin-group
The Chernin Group (Tcg) is a venture capital firm based in Los Angeles, California, founded in 2010. Tcg focuses on building consumer businesses across various industries, including digital media and health and wellness. They provide capital and strategic support to entrepreneurs and management teams, helping them scale their operations and realize their visions. Notably, Tcg has made significant investments in the sports betting sector, including participation in funding rounds for The Action Network, which raised $17.5 million in a Series B round in 2019, and an earlier Series A round in the same year. Additionally, Tcg acquired Barstool Sports in 2016, a prominent media company that has a strong presence in the sports betting industry, and further invested $15 million in Barstool Sports in 2018. These transactions highlight Tcg's active role in the sports betting market and their commitment to supporting businesses within this industry.
10. Gaingels
- Website: gaingels.com
- Type: Venture Capital
- Headquarters: Burlington, Vermont, United States (USA)
- Founded year: 2015
- Headcount: 11-50
- Number of deals in 2024: 60
- LinkedIn: gaingels
Gaingels is a venture capital firm founded in 2015, based in Burlington, Vermont, dedicated to investing in companies with diverse leadership. The firm provides capital and support to startups, particularly those led by underrepresented groups, to foster diversity and inclusion in the innovation economy. Gaingels has been involved in several notable transactions in the sports betting industry, including a $2.4 million Series A funding round for ZenSports, a mobile sports betting app, which aims to complete its U.S. gaming license applications. Additionally, they participated in funding rounds for ThriveFantasy, a platform for fantasy sports betting, and Jackpocket, a company that facilitates lottery ticket purchases through a mobile app. These investments highlight Gaingels' active role in the sports betting sector while maintaining their commitment to diversity and inclusion.
11. Eberg Capital
- Website: ebergcapital.com
- Type: Venture Capital
- Headquarters: New York, New York, United States (USA)
- Founded year: 2022
- Headcount: 1-10
- Number of deals in 2024: 8
- LinkedIn: eberg-capital
Eberg Capital is a venture capital firm based in New York, specializing in sports entertainment. Founded in 2022, the firm focuses on providing investment and advisory services to sports startups and entrepreneurs, aiming to revolutionize sports investing by supporting innovative ventures and alternative sports initiatives. Eberg Capital has been actively involved in the sports betting sector, with notable transactions including a significant investment in Betr, which raised $35 million in Series A2 funding to enhance its sportsbook offerings. Additionally, Eberg Capital participated in the seed funding round for Pro League Network, a company that aims to produce niche, fun, bettable games, further demonstrating its commitment to the sports betting industry. The firm has made a total of 8 investments in 2024, indicating a robust engagement in the sports entertainment landscape.
12. Flutter Entertainment
- Website: flutter.com
- Type: Corporate
- Headquarters: New York, New York, United States (USA)
- Founded year: 2000
- Headcount: 10001+
- Number of deals in 2024: 2
- LinkedIn: flutter-entertainment-plc
Flutter Entertainment plc is a leading sports betting and gaming company based in New York, New York. Founded in 2000, the company operates several well-known brands, including Betfair, FanDuel, and Paddy Power, providing a wide range of online sports betting and iGaming services. Flutter is committed to responsible gambling practices and also offers data services and B2B sportsbook solutions. Notably, Flutter has made significant acquisitions to strengthen its position in the sports betting market, including the acquisition of Paddy Power PLC in 2016, The Stars Group in 2019 for over $6 billion, and more recently, the acquisitions of NSX Group and Snaitech in 2024 for $350 million and approximately $2.56 billion, respectively. These transactions highlight Flutter's strategic focus on expanding its footprint in the sports betting industry.
13. KB Partners
- Website: kbpartners.com
- Type: Venture Capital
- Headquarters: Highland Park, Illinois, United States (USA)
- Founded year: 1996
- Headcount: 1-10
- Number of deals in 2024: 1
- LinkedIn: kb-partners
KB Partners is a venture capital firm based in Highland Park, Illinois, founded in 1996. The firm specializes in early-stage investments at the intersection of sports and technology, partnering with innovative entrepreneurs to provide capital and strategic guidance. Their portfolio reflects a strong focus on the sports sector, including notable investments in companies like nVenue and Phenix. nVenue, which raised $3.5 million in funding led by KB Partners, is developing high-tech micro-betting solutions, showcasing KB Partners' commitment to the sports betting industry. Additionally, their investment in Phenix, a real-time video streaming solutions provider, further emphasizes their engagement in sports-related technologies, which can enhance the sports betting experience. Overall, KB Partners is dedicated to fostering successful business ventures within the sports domain.
14. Courtside Ventures
- Website: courtsidevc.com
- Type: Venture Capital
- Headquarters: New York, New York, United States (USA)
- Founded year: 2015
- Headcount: 1-10
- Number of deals in 2024: 7
- LinkedIn: courtsidevc
Courtside Ventures is a venture capital firm based in New York, specializing in early-stage investments across the sports, lifestyle, and gaming sectors. Founded in 2015, the firm partners with innovative founders to provide capital and strategic support, helping them navigate growth challenges in dynamic industries. Notable transactions include investments in Rei do Pitaco, a fantasy sports platform, and Xpoint, which provides geolocation technology for online gaming. They also invested in Jackpot, an online lottery ticket app, and Matchday, which combines video games, sports, and web3 technology. These investments highlight Courtside Ventures' active role in the gaming and sports betting landscape.
15. Founders Fund
- Website: foundersfund.com
- Type: Venture Capital
- Headquarters: San Francisco, California, United States (USA)
- Founded year: 2005
- Headcount: 11-50
- Number of deals in 2024: 44
- LinkedIn: the-founders-fund
Founders Fund is a venture capital firm based in San Francisco, California, founded in 2005. The firm specializes in investing in innovative technology companies across various sectors, including aerospace and software development. Founders Fund provides funding and strategic support to startups, helping them grow and scale their operations. Their portfolio includes notable companies like SpaceX and Palantir, indicating a focus on high-impact investments. In the context of sports betting, Founders Fund has made significant investments in companies such as Boom Fantasy, which raised $2 million in a seed round to enhance accessibility to daily fantasy sports, and Polymarket, which raised $45 million in a Series B round and operates in the prediction market space. These transactions highlight Founders Fund's engagement with the sports betting industry and its commitment to supporting innovative companies within this sector.
Sports Betting Insights: Key Investors in the US
| Investor | Headquarter | Size | Founded | Deals 2024 |
|---|---|---|---|---|
| 500 Global | San Francisco, California, United States (USA) | 201-500 | 2010 | 98 |
| Y Combinator | San Francisco, California, United States (USA) | 51-200 | 2005 | 802 |
| HUB International | Chicago, Illinois, United States (USA) | 10001+ | 1998 | 37 |
| SV Angel | San Francisco, California, United States (USA) | 1-10 | 2009 | 44 |
| Accel | Palo Alto, California, United States (USA) | 51-200 | 1983 | 101 |
| FJ Labs | New York, New York, United States (USA) | 11-50 | 2015 | 169 |
| The Raine Group | New York, New York, United States (USA) | 201-500 | 2009 | 8 |
| Elysian Park Ventures | Los Angeles, California, United States (USA) | 1-10 | 2016 | 3 |
| Tcg | Los Angeles, California, United States (USA) | 51-200 | 2010 | 5 |
| Gaingels | Burlington, Vermont, United States (USA) | 11-50 | 2015 | 60 |
| Eberg Capital | New York, New York, United States (USA) | 1-10 | 2022 | 8 |
| Flutter Entertainment | New York, New York, United States (USA) | 10001+ | 2000 | 2 |
| KB Partners | Highland Park, Illinois, United States (USA) | 1-10 | 1996 | 1 |
| Courtside Ventures | New York, New York, United States (USA) | 1-10 | 2015 | 7 |
| Founders Fund | San Francisco, California, United States (USA) | 11-50 | 2005 | 44 |
Want to find more investors focusing on the sports betting industry?
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