At some point, sports gambling is going to become legal in the United States. It might not happen within the next five or ten years, but there’s simply too much money being spent on illegal sports gambling for it to stay illegal forever. And when it does become a part of the norm here in the States, guys like Michael Jordan and Mark Cuban are going to make money off it.
Bloomberg just ran an interesting piece that features them taking a closer look at the company Sportsradar AG, which supplies sports data to bookmakers all over the globe. They also provide information to companies like DraftKings and FanDuel and stand to make a fortune if, er, when countries like the U.S. legalize sports gambling. So Jordan, Cuban, Wizards/Capitals owner Ted Leonsis, and others have invested big money in Sportsradar—they are part of a group that invested $44 million—with the hopes of cashing in when sports gambling is legalized.
It’s worth noting that the company does do more than just provide sports data for gambling purposes. At the moment, they work withGoogle, Facebook, and Twitter here in the U.S. But there’s a lot of money to be made in sports gambling and, one day, MJ and Cuban are probably going to reap the benefits of it thanks to their stakes in Sportsradar. Go here to check out Bloomberg’s story on it.
source: complex.com BY CHRIS YUSCAVAGE