Investors break down hottest opportunities in sports betting, startups - Business Insider

pierced the US about a year and a half ago, when the US Supreme Court overturned a federal ban against sports betting, and opened the door for more states to legalize the gaming category.

, have emerged as the early leaders in legal sports betting in the US, said Mohit Kansal, partner at Toronto-based private-equity firm Clairvest Group, which has holdings in a number of gaming companies, including casinos and racetracks.Daily fantasy sports companies like FanDuel and DraftKings In New Jersey — the biggest new market for sports gambling since PASPA, the law banning sports gambling, was overturned — FanDuel and DraftKings control about 80% of the market,Neither company's sports betting operations are thought to be very profitable today. Sports betting is a low-margin business, and FanDuel and DraftKings are still expanding in the US and reinvesting their profits into improving their betting platforms.

Geolocation software companies like GeoComply or LocationSmart that ensure online bettors are within the borders set by state regulators. In New Jersey, mobile gamblers must place bets within state lines. Other states may require bettors to be in licensed casinos, bars, or restaurants. The toll takers stand to profit the most. "No matter who wins in the land war that we're going to see play out between the incumbents and the newcomers, they get a piece of the action because they're a necessary part of the delivery of the value chain," Rosenberg said.

"There's some incredible incumbent companies," Kimmel said, "some of which are going to innovate and they're going to be great, and then others are going to get knocked out, totally knocked out by entrepreneurs and their ideas."

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