Billionaire Stephen Ross invested in sports betting startup called Action Network. It is another move by the Stephen Ross venture fund to capitalize on the legal sports gambling bandwagon. RSE Ventures invested in the startup as part of a $17.5 million fundraising round that ended earlier this year.
Action Network CEO Patrick Keane told bookie pay per head solutions providers that they didn’t report RSE’s investment at that time. Also, Action Network was not part of the list of investments made by RSE.
RSE CEO Matt Higgins said that they believe a new media company can emerge to serve the sports betting sector. Also, the Action Network combines content and data to deliver engaging programs to consumers.
Action Network has the right mix of data miners and content creators. It can help in increasing the company’s growth within several months. Other significant investors of the startup include owners of the Philadelphia 76ers, New Jersey Devils, and the Chicago Cubs.
Keane told pay per head bookie news outlets that his company’s strategy is to get at least one team owner from the four major sports as investors. He believes that team owners can provide wise suggestions that can help the company.
In the past, NFL owners don’t support legal sports betting. They fear that it will harm the integrity of the league. However, the NFL’s policy on sports gambling softened after the Supreme Court got rid of the federal ban on the activity.
In the time when many entrepreneurs want to know how much money do I need to be a bookie, investing in sports betting is the right thing to do. Action Network wants to be a one-stop-shop for players by offering news and podcasts from a staff of around 30 editors and reporters.