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How the once-frothy scene for sports-betting startups is being shaken by the choppy economy

7 days ago   |   By Business Insider

Stephen Curry. Ashley Landis/AP Images
The startup scene surrounding US sports betting has exploded in recent years.
But the rocky economy is bringing the once-frothy startup landscape back down to earth.
An investor says valuations are being "interrogated" and it's getting harder for some to raise money.
The startup scene surrounding sports betting exploded in recent years as new regulation in the US helped turn online gambling into big business. During 2021, PitchBook tracked in late December 44 venture-capital deals totaling $700 million in US sports betting, up from 32 deals worth less...
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