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I wish to know about the peer to peer betting industry world wide. Is anyone doing it successfully? Do people bet on fantasy football teams through peer to peer? Many thanks!
Hello! Thanks for using Wonder to request information regarding the global peer to peer betting industry. In short, peer-to-peer betting is an industry that is increasing in popularity, with the largest market concentration existing in Europe, and industry 'disruptors' are emerging within the US. Additionally, there are a handful of highly successful companies operating in this field, such as Paddy Power and Matchbook. P2P betting in fantasy football is done through apps such as FanDuel and Bait. You will find a deep dive of our findings below!
PEER TO PEER BETTING INDUSTRY OVERVIEW
The peer to peer betting industry is a fairly new market and has not been established for very long. In terms of apps, this marketing is becoming increasingly popular. Some of the most successful players in this industry at the moment are YouBetMe, Favourit, SideBet Social Betwork, Paddy Power, and Gamblino. Additionally, many of the most popular betting exchanges based in the UK, are also popular in the US as well, such as Matchbook, Smarkets, and BetDaq. One emerging gambling platform is Augur, which is currently making waves in this industry as they are a leader in "the transformation of gambling platforms into blockchain-based technology." We will explain more about this particular company and why they are gaining rapid success below.
P2P BETTING IN FANTASY FOOTBALL
While there are many examples of fantasy football apps, the majority of them do not offer peer-to-peer betting. However, an app called Bait was offering peer-to-peer betting in both American football and soccer. This app is currently closed down, but is scheduled to re-launch quite soon with improved functionality. Additionally, one very popular betting platform in terms of betting on American football is FanDuel, a "leader in one-day fantasy sports," offers a Friends Mode that allows small groups of friends to bet on the NFL, along with other major leagues such at the PGA, NBA and NHL.
ACQUISITIONS IN THIS INDUSTRY
Our research has revealed the following acquisitions within this industry:
-- In 2013, Betfair acquired some assets from Blue Square, including their customer database, for £5 million ($7.6 million).
-- In 2015, Betfair and Paddy Power formed a £6bn merger.
-- Betfair emerged in the US market in 2008, after they bought an "interactive TV horse-race wagering service" from Macrovision for $50 million.
EMERGING MARKETS AND MARKET CONCENTRATION
Currently, Europe has the largest P2P betting market in the world, however this type of betting is expected to grow substantially in the US, as it slips through loopholes within strict gambling laws.
Emerging markets in P2P betting are also springing up in markets not-related to sports, and blockchain-based platforms are gaining popularity a well. As we mentioned above, Augur, based in California, is a leader in one such market known as a 'prediction market'. This platform allows people to "bet on any future event that they desire; for example, the US presidential elections." Augur has amassed more than $5 million in crowdfunding, and released a beta version of their app last March. "Operating as a decentralized, [blockchain-based] peer-to-peer marketplace, Augur will not be controlled by any one person or institution." Additionally, start-up company, Flexihedge, recently launched the very first "financial betting exchange," which allows users to bet on things such as market risk.
Continuing on the topic of blockchains, Peerplays, a blockchain based P2P betting platform "will make online gambling accessible to users in every country on the Earth." This platform is scheduled to launch on May 30th, 2017.
CONCLUSION
To wrap it up, peer-to-peer betting is an industry that is increasing in popularity, with the largest market concentration existing in Europe, and industry 'disruptors' are emerging within the US. Additionally, there are a handful of highly successful companies operating in this field, such as Paddy Power and Matchbook. P2P betting in fantasy football is done through apps such as FanDuel and Bait.
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