Will We See Sports Betting on Yahoo Sports Soon?
In the past few years, it seems like every big sports news company is considering joining the sports gambling bandwagon. Apollo Global Management, the private equity company that had bought Yahoo from Verizon last year is considering just that. Therefore, does it mean that we will see Sports Betting on Yahoo Sports Soon?
According to sources in the sportsbook pay per head industry, Yahoo is having preliminary discussion with several sports gambling companies. The topic of these discussions is about merging the assets of sports betting companies with Yahoo Sports. However, details about these talks are not available as they are seen as private discussions and nothing more.
While they have been in talk with several companies, one of them seems to be at the forefront of the list. According to people familiar with the discussion, PointsBet could be a potential partner. PointsBet is an Australian company that has a market value of $760 million and an excellent bookie software and platform.
For potential investors, these talks remain at an early stage and no imminent deal is in sight.
Sports Betting on Yahoo Sports is a Real Possibility
On the other hand, Yahoo Sports has always been at the forefront of the sports industry. This is because they were one of the first to offer a sports betting lines platform and fantasy sports tools. Smaller public sportsbooks like PointsBet have had t trouble competing with larger companies in recent years. This is because the competition is fierce and sports betting is a low-margin business.
It is probably that Yahoo is looking for some kind of Yahoo Sports spinoff if they enter the sports betting market. However, if any merger takes place, the new company would probably have to keep the Yahoo branding.
For any sportsbook company, it would be advantageous to partner with Yahoo. This is because as an early provider of fantasy sports tools, they have millions of players they can convert.
As for Apollo Global Management, this could be part of their strategy to enter and expand into the gambling market. Especially since last month they bought the Venetian Resort and the Venetian Expo in Las Vegas for $2.25 billion.