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If Bernstein’s $10 trillion prediction market turnover forecast is realized or exceeded, it’d likely prove significant in revenue terms because the research firm previously estimated that $1 trillion in yearly activity could generate as much as $10.8 billion in revenue for operators.
As has been widely documented, sports event contracts are currently the lifeblood of the prediction market industry, but Bernstein notes that won’t be the case on a permanent basis. In fact, the research firm estimates that sports derivatives’ share of industry volume will decline to 35% in 2035, indicating that the aforementioned volume increase will be led by other categories.
The research firm estimates that by 2035, financial derivatives, including event contracts linked to commodities, cryptocurrencies and stocks, will account for 49% of turnover on yes/no exchanges, topping sports to become the largest volume driver. The research firm sees event contracts tied to key performance indicators (KPIs) leading the charge.
How to play Ring The Bells Deluxe
Canada-based Score Media & Gaming may have just scored a game-winning touchdown. In an announcement made after markets closed yesterday, the company behind theScore and Score Bet sports gambling brands has launched an initial public offering (IPO) as it goes live on the Nasdaq Global Select Market (NGSM). The move follows on the heels of Canada’s preliminary approval of single-event sports wagers, which is expected to greatly benefit Score Media, and could quickly lead to the company’s stock price skyrocketing.
Score Media announced that it is selling five million shares, fewer than previously expected. The company had changed gears with its public launch, announcing last week a reverse split that would cut out some of the available shares while increasing the per-share price. It has already found support, with underwriters Canaccord Genuity, Credit Suisse, Macquarie Capital and Morgan Stanley able to purchase another 15% on top of the initial five million shares. Should they exercise that option, there would be a total of 5.75 million shares available. The underwriters have 30 days to make up their minds, which will give it time to see how the market reacts.
Several gaming entities have jumped into public trading recently, most notably, DraftKings. It saw a huge response when it launched its IPO last year, and Score Media hopes it can see a similar response. With operations in Canada, Colorado, Indiana and New Jersey, heavy interest is not out of the question, and the company is ready to capture a larger piece of the market. It added in its announcement, “[Score Media] currently expects that the net proceeds of the offering will be used to fund working capital and other general corporate purposes, including the continued growth and expansion of theScore Bet’s operations in the United States and Canada by supporting the multi-jurisdiction deployment and operation of theScore Bet and user acquisition and retention in jurisdictions where theScore is, or will be, operating.”
How to play Ring The Bells Deluxe
Tech Race in Warsaw this September and Hall 7 at ICE in Barcelona this January are set to become sequential chapters of the same conversation. CTOs, CSOs and data leaders can expect to pick up where they left off four months later.
Both events are betting on the same idea proving useful for the industry. Getting a room full of exactly the right people together beats chasing them individually across the globe.
Is AI a pure buzzword? Tune in now to hear Dunn’s and Kastukevich’s honest views on AI in the iGaming industry.
