SectorWire
SearchGet the daily briefing
Menu

Betr completes Ascent Capital acquisition ahead of prediction market launch

Deals & M&A

Betr said it completed its acquisition of Ascent Capital Management, securing registrations with the National Futures Association and Commodity Futures Trading Commission. Betr said it plans to add prediction markets to its app later this year, where more than one million paying users can access event contracts through its existing interface.

The acquisition gives Betr a registered introducing-broker position as it prepares to offer event contracts through its app.

Connections

Request a correction

Keep reading

Deals & M&A

Intelitics CEO says prediction markets increase sportsbook acquisition costs

Intelitics chief executive Allan Stone said prediction markets compete with sportsbooks for customers and advertising placements, citing a 13 September interview with European Gaming. Stone said Kalshi recorded almost six million app downloads during the World Cup.

Intelitics chief executive Allan Stone said prediction markets are competing directly with sportsbooks for the same customers, media channels and affiliate placements, raising customer acquisition costs and affecting operator budgets. Stone made the comments in an interview, according to a report.

Continue reading