• Underdog Fantasy has officially announced its acquisition of sports betting tech company GOAT Gaming.
• This purchase helps Underdog work to enter the sports betting market as a sportsbook platform.
• GOAT’s technology will cover player account management, trading and risk, and players’ wallets.
NEW YORK – The sports betting market may be seeing a new sportsbook coming soon following Underdog Fantasy’s acquisition of GOAT Gaming.
Underdog Fantasy is a Brooklyn-based daily fantasy sports (DFS) that also provides Pick’Em events for players. GOAT Gaming is a sports betting technology company that will allow Underdog to make its way into the regulated sports betting industry.
The company will join the likes of FanDuel and DraftKings, who built a strong base through DFS and evolved into USA online sportsbook providers as well.
An announcement from our team… pic.twitter.com/LXTGiYO7F8
— Underdog Fantasy (@UnderdogFantasy) September 8, 2021
Underdog Meets GOAT
The announcement came on Wednesday, September 8 just one day before the start of the 2021-2022 NFL season. Underdog also announced New Orleans Saints RB Alvin Kamara as an official partner.
— Alvin Kamara (@A_kamara6) September 7, 2021
Underdog is clearly aiming to capitalize on NFL betting this season by expanding its horizons into the world of regulated sportsbooks.
GOAT Gaming will use its technology to provide player account management (PAM), trading and risk, and players’ wallets.
The technology provided by GOAT will allow Underdog to host in-house odds and supply them for betting fans seamlessly. This is a major step for the small company that has been slowly expanding in 2021.
Big Moves By Underdog
Earlier in the year, Underdog Fantasy raised $10 million in funding from big-name investors; including the likes of Mark Cuban, Kevin Carter, and Kevin Durant.
“Kevin Carter was the natural choice to lead our round, as he was the first investor in my last company while he was at SV Angel and believed in us before anyone else did,” said Jeremy Levine, Chairman, and co-founder of Underdog Fantasy.
These funds would go on to allow Underdog to purchase GOAT, leading to the new era for the DFS company. The USA online gambling industry continues to expand nationwide and this is just more proof of that.