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In April, Interactive Games LLC, a unit of Cantor, sued DraftKings and Flutter Entertainment’s FanDuel, alleging the two largest domestic online sportsbook operators infringed on its patents. That suit arrived a decade after Interactive Games brought similar litigation against the sports wagering giants, which was challenged by both companies.
In the suit brought earlier this year, the Cantor unit accuses the two gaming companies of infringing on five of its patents and requested an undisclosed amount of financial damages.
Interactive Games was once a part of Cantor Gaming, which no longer operates. That entity was familiar with controversy, enduring allegations of money laundering and nearly losing its Nevada license in 2018. The parent company sold the business in 2019.
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Developed by Legend – Genius Sports’ consumer media and technology unit, acquired last year for $1.2 billion – Prediction.com enables users to compare equivalent event contracts across several platforms. It also follows how market probabilities evolve in real time as sports events unfold.
Integration of Genius Sports’ official in-game data with real-time market pricing will allow users to track play-by-play actions alongside dynamic market probabilities, prices and signals.
Users can compare like-for-like contracts and multi-leg positions across different exchanges, enhancing their insights and decision-making. Another feature of Prediction.com is its proprietary cross-venue engine, enabling users to compare multi-leg contract combinations.
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Prediction markets have proven effective at attracting sharp bettors and high-rollers who are often limited or banned by traditional sportsbooks. However, consumer surveys indicate that when given the choice between a sportsbook and a yes/no exchange, most recreational bettors still prefer the traditional sportsbook interface. That dynamic helps explain why prediction markets remain in second place.
“Prediction markets represent a meaningful second channel for NFL wagering but still small on a relative scale, reflecting a new sector with less of an installed base,” observes EKG.
It’s widely believed that all-or-nothing exchanges are carving out significant niches in states, such as California and Texas, where sports betting is prohibited, but there’s also emerging consensus that the prediction market threat to sportsbooks is easing.
