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I'll Bet You

LeBron James becoming an official part of the DraftKings Inc. family today took me on a quick dive into the world sports betting and some conversation starters for a Sports Business Class.

The global sports betting market was estimated to be around $86B in 2022 and to be growing at over 10% CAGR. While once lurking in the dark underbelly of sports, this world of sports gambling is bright, attractive and sitting front and center. All the major leagues have official sports betting partners. While gambling is officially banned for the athletes participating in the sport, they play on the backdrop of gambling sponsors on their uniforms, on the signboards, and even using their likeness to promote the "product".

As brands like DraftKings Inc., FanDuel, PrizePicks, and ESPN Bet become regular fixtures every time we tune into game or head to the stadium, there is still part of this world that needs to be monitored. As the amount of money be wagered increases, the integrity of the sport becomes more and more paramount. In the world of Global Football, Sadro Tonali and Ivan Toney have recently been banned for 10 months and 8 months respectively for breaching league gambling regulations. Irony that both of their clubs have gambling sponsors on the front of their kits. 

In terms of the gambling experience and products offered, the competition has proven to drive amazing results for the customers. The providers are driving solutions that are easy to play, with intuitive odds, offer clean apps, and many fun options to place bets on to, as the old saying goes, "make things interesting". They are more and more approachable to new fans and with the Super Bowl on its way, they will be full of amazing prop bets - - like delivering odds on a Travis Kelce / Taylor Swift proposal at the Super Bowl. 

Sports Business Classes - - Sports Betting. How is positioning of their products and services fueling growth of sports? What are some of the products offered to engage new fans? How does sports betting impact viewership? What are the similarities in product strategy for a gambling company versus a classic sports supplier? (Tiering, multiple options, etc) Finally, keep an eye on the numbers around the upcoming Super Bowl - more money gambled? Will the betting companies be the big winners or will the gamblers take home the spoils?

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