To challenge Google and Facebook in the digital ad market, Verizon acquired Yahoo and AOL. However, they led to significant losses for the company. Thus, Verizon gambles on sports betting to improve its media business.
Verizon restructured its media business that includes Yahoo Fantasy League and Yahoo Sports. Also, it is streaming NFL games as it tries to enter the US sports betting market. The company partnered with BetMGM, which has a presence in nine states over the last 18 months.
According to sportsbook pay per head reports, the push towards sports betting is an attempt to get more value from its 900 million digital services users. It has millions of loyal fantasy sports and sports users that it can attract to stay and wager using the apps.
Verizon Gambles on Sports Betting
Users who go to Yahoo to check sports content and scores. Also, they join various Yahoo Fantasy Sports Leagues. Verizon wants those users to use the same platform to wager on sports according to the best pay per head bookie.
Verizon doesn’t need to learn how to become a bookie. It partnered with BetMGM to do it for them. Also, the move makes the biggest telecoms company a player in the growing US sports betting market. It is competing against The Action Network and DraftKings, among others.
Another competitor is Fox, one of the most aggressive players in the sports betting industry. Also, it promotes its Fox Bet sportsbook and has a stake in FanDuel’s parent company, Flutter. Sky is another media company that entered the sports wagering sector through Sky Bet.
According to analysts, the online sports betting market is expected to grow from $494 million in 2019 to $8.4 billion in 2025. Thus, many companies want to establish their share of the market before it becomes saturated.
No comments:
Post a Comment