With the recent Supreme Court decision that legalized sports betting nationwide came a flurry of new companies seeking to take advantage of the new gambling economy. On Monday, Philadelphia-based VD firm SeventySix Capital announced an investment into one such company, Vegas Stats & Information Network.
SeventySix Capital’s investment will allow VSiN—co-founded by sports broadcaster Brent Musburger—to create and distribute its gambling-related content and increase its video content capabilities, the firm said.
The investment follows on the VC company’s trend of investing in sports technology and media startups. SeventySix is led by Wayne Kimmel, Jon Powell, and former Phillies slugger Ryan Howard.
“If someone is going to place a sports bet, credible information is crucial,” Howard said in the announcement. “My partners and I at SeventySix Capital are investing in the elements within the sports betting industry that consumers need, including data collection, analytics and, now, media.”
SportTechie Takeaway
With this move, SeventySix Capital is looking to capitalize early on what experts expect to become a $250 billion industry in the next couple of years. VSiN broadcasts 24/7 on SiriusXM radio and vsin.com, and plans to offer expert analysis of the growing sports betting world.