One of many fastest-growing fantasy sports activities corporations, Underdog Sports activities, introduced Wednesday it secured a license in Ohio.
Ohio Regulator Grants Underdog Sports activities Betting License
The corporate revealed that the entry into Ohio comes after it secured a license for on-line sports activities betting from the playing regulator within the state, the Ohio On line casino Management Fee. Having a license implies that the operator will be capable to introduce its sports activities betting companies as soon as the state launches its authorized market.
Looking for to additional develop its presence in Ohio, Underdog introduced an settlement with the Cincinnati Reds, the well-known Main League Baseball (MLB) crew. Beneath the collaboration, the crew was designated as a market-access companion of Underdog. In consequence, upon launching the market in Ohio, Underdog plans to introduce a wide range of wagers for sports activities followers and bettors within the state.
On the similar time, receiving a license in Ohio boosts Underdog’s ongoing progress. In the end, the corporate plans to develop and enter a number of US states, providing its progressive real-money sportsbook and day by day fantasy merchandise. In the end, Underdog plans to “create deeper connections with sports activities followers throughout the nation” by establishing a presence in several states and increasing the attain of its merchandise.
The Firm Plans to Proceed Increasing
Jeremy Levine, Underdog’s chairman and president, acknowledged that securing a license in Ohio represents a monumental second for the corporate. On the similar time, he identified that Underdog is trying ahead to introducing its main companies to prospects within the state. “We’re constructing a singular, immersive sports activities betting platform and our partnership with the Cincinnati Reds will create a right away channel to customers within the state as soon as our merchandise are unveiled,” stated Levine in conclusion.
“At present marks a big milestone in Underdog’s historical past and we’re thrilled to have been granted a license to function in Ohio.“
Jeremy Levine, president and chairman at Underdog
The most recent announcement comes after solely lately, Underdog Fantasy secured a cope with Xpoint Ink. Beneath the phrases of the partnership introduced earlier this month, the geolocation know-how specialist was named an official geolocation companion of Underdog.
Alternatively, this summer time, Underdog secured a $35 million funding spherical. Again in July, the corporate was valued at $485 million and secured a funding spherical that sought to assist it proceed to develop and innovate inside the sports activities betting and fantasy sports activities verticals. BlackRock and Acies Funding have been among the many well-known traders that backed Underdog on the time, together with many different celebrities and corporations.
