The US sports betting market has largely been driven by incumbents and established brands, with many taking the view that the high regulatory costs present too large a hurdle for new challengers to jump. Bet.Works proves that isn’t the case. With an experienced team, backed by some notable investors, it has already launched in two states. CEO David Wang talks us through the company’s creation.
There’s also evidence of operators preparing to upset the established order. While the legacy daily fantasy businesses have built up an early lead in US sports betting, it looks as if some of the land-based brands are preparing to take them on in 2020. Penn National Gaming, for one, has big plans to leverage its land-based business to become an online leader.