Tag: online poker

Sports Betting Faces Shakeout, Cooling Investor Enthusiasm
Technology

Sports Betting Faces Shakeout, Cooling Investor Enthusiasm

[ad_1] Smaller sportsbooks like MaximBet and Fubo Gaming have shut down amid mounting industry challenges. Just a few years ago, the sports-betting industry was flying high. Fresh off a Supreme Court ruling that allowed sports wagering to expand beyond Nevada, one state after another legalized it, investors poured money in and roughly 50 sportsbooks popped up aiming to cash in on the frenzy. Now, a growing number of the services are shutting down, and the industry's future looks uncertain. In a crowded, hyper-competitive landscape dominated by a few deep-pocketed giants, many apps are struggling to survive. Currently, the four biggest sportsbooks — FanDuel, DraftKings, BetMGM and Caesars — control about 90% of the US market, leaving little room for smaller rivals, according to th...