If you have a great idea or a business plan for how to profit in the rapidly growing US sports betting industry then you should probably keep an eye on the Sports Gaming Investment Fund (SGIF).
SGIF is being launched by a Las Vegas based collection of investors who are on the lookout for people and companies to invest in the legal sports betting market that is estimated to hit $17 billion in the not too distant future.
Many huge companies are in the news today in the rapidly growing industry, such as Stars Group and Flutter Entertainment who just announced a $12 billion merger to form the largest online gambling company in the world.
It’s just one of several high-profile mergers that have happened this year and in this kind of market it only makes sense that smart investors are looking for the next wave of creative businesses to back and profit from.
Yet as Blaine Graboyes, an advisory partner in SGIF states, “Gambling is one of the toughest industries for start-ups from a compliance perspective. Having the right plan as early as possible in the process can easily be the difference between success and failure for a start-up targeting the sports betting industry”
SGIF believes that with their backing and experience they can help those start-ups get off the ground and have a fighting chance to make a success for themselves.
Chris Grove, the managing partner of SGIF clearly sees the opportunity however in partnering with the right companies, saying, “There’s no doubt that the keys to fully unlocking the potential of the U.S. sports betting market are in the hands of start-ups. We’re just now starting to see the ideas that will ultimately define sports betting in the United States.”
And whether it be live-betting, in person betting in stadiums or a host of new ideas that haven’t been considered yet, the look and feel of the US betting marketplace is going to keep changing at a rapid pace. The right companies in the right positions are likely going to profit mightily in this economy.
Grove, who is the managing partner is a partner at Eilers & Krejcik Gaming. Graboyes is the CEO and co-founder of gambling machine GameCo.
The other lead members of the management fund include, David Sargeant who is the CEO and founder of iGaming Ideas. He’s the other managing partner and has a ton of experience working with start-ups as his company is an incubator for gambling start-ups.
Seth Schorr is another advisory partner. He is already the chairman of Fifth Street Gaming and a co-founder of Konek TV.
SeventySix Capital, another advisory partner has years of experience on the back end of managing investment funds and will help put the company’s structure and back office in place.