Alt Sports Data, founded by the alumni of Gopro, Joe Dunnigan and Todd Ballard, announced on Monday that he had obtained funding of $ 5 million.
The company is trying to develop bets on new and emerging sports such as Formula 1. It works with sports leagues and sports operators to provide the data underlying betting. He also works on other ways to start niche sports fans.
Alt Sports Data is competing with large sports data suppliers such as Sportradar and Genius Sports, which work with major leagues such as NBA and NFL. The startup aims to distinguish itself by prioritizing niche and lifestyle sports on which its competitors do not concentrate.
“There are a lot of leagues that are not the NFL, the MLB, the NBA, which, frankly, I think that I was systematically designed for the failure of sports betting because there is simply no real innovation or reflection.
Alt Sports Data works with sports such as Formula 1, which recently made the company its official Paris supplier, X Games, and the World Surf League. Sports books like Fanduel and Draftings use ALT sports data.
Ballard said that these lifestyle sports have massive fans bases, but not much representation on sports books.
“Why can’t we bet on a bunch of these sports such as surfing and motorcycle?” Ballard said.
The company plans to use its new financing to create more tools and partnerships to help make sport more engaging.
Eberg Capital and Relay Ventures led the seed tour of Alt Sports Data, including the participation of Motley Fool Ventures, Scrum Ventures and other individual investors.
Alt Sports Data’s strategy to stimulate the commitment of sports fans
Ballard said that Alt’s sports data have four pillars of his business which help stimulate sports betting and fans’ commitment.
Related stories
Business Insider tells the innovative stories you want to know
Business Insider tells the innovative stories you want to know
Its league services include data rights agreements, marketing, integrity and other work with owners of sports rights. Ballard said that the company has around 25 sports and leagues in its ecosystem, including combat, engine, action and niche sports.
The branch of the product supports these league relationships with data science, distribution, infrastructure and game development.
“How do we lead more significant relationships with the leagues?” said Ballard. He said that, in some cases, the company will build the back-end data infrastructure for a league to support bets.
The company also has a media division with its own affiliation site, NXTBETS. The site uses content to direct people to sports betting platforms, similar to what companies like Catena Media and Better Collective Font. Ballard said that NXTBETS has become a “fairly substantial” element of the company.
The company also works to create its own games to develop from sports betting in fields such as social games, Peer-to-Peer, Daily Fantasy and Free-to-Play.
“We do not say that we want to create exclusively games just for us,” said Ballard. “We think we can show how it should be done.”
Alt Sports Data builds something for fans who are not more popular sporting enough to bet them outside a big event, like the Super Bowl or March Madness. His target approach bringing these fans to the ecosystem of sports betting in sports that are close to their hearts, such as surfing or X games, then putting them at ease to bet on sport more widely.
“Emerging niche sports have these massive audiences behind them who are quite passionate and give the leagues a new commitment point, a new opportunity to drive more fans to their sport and, ultimately, new flows of income,” said Ballard.
businessinsider
