Will be interesting to see how RAS Technology Holdings Limited (ASX(RTH) goes today noting they are listing today. Noting Entain have bought into the IPO and have a 10% stake. I think BET is a fair way ahead of them.
It is worth reading their prospectus as it gives a good insight into the size of the fixed odds market- a few bits from it:
Who are Racing and Sports’ key competitors?
Major industry participants in sports data and technology services include companies that focus on racing such as BetMakers Technology Group, Sports Information Services, Equibase and Vermantia, and companies focused on other sports, such as Genius Sports Group, Kambi, Sportradar, Stats Perform and IMG ARENA.
What is the size of the global racing industry?
In 2018, based on data collected for 52 jurisdictions by the International Federation of Horseracing Authorities, the global thoroughbred racing industry comprised almost 150,000 races, total prize money of $5.4 billion and wagering turnover of $174.2 billion.
What are the main racing markets globally?
The largest global markets for thoroughbred racing measured in terms of prize money and wagering turnover are Australia, France, Hong Kong, Japan, the UK and the US. Cumulatively, these six markets represent approximately $4.3 billion in prize money and $144 billion in wagering turnover.
What is the size of the global wagering industry?
Global wagering revenue (fixed-odds only) was estimated at $87.6 billion in 2020, and is forecast to increase to $142.4 billion by 2025 at a Compound Annual Growth Rate (CAGR) of 10.2%. Section 2.5.2
