Prediction markets are the latest shiny objects for regulated sportsbooks and other operators and now it appears that Gambling.com is looking to get in on the action. Earlier this week Gambling.com Group CEO and Chairman Charles Gillespie told investors that the affiliate services company is seeing some clear advantages to jumping on the predictions market bandwagon.
Gillespie addressed the predictions boom and how his company might exploit it in comments reported on by SBC Americas saying, “There’s a lot of interesting companies, big-name companies with big balance sheets, that are looking to enter this or already have. And we are talking to all of them. It’s an obvious way for us to expand the TAM and grow the business. So we look forward to seeing how that develops this year.”
One question that many gaming operators are asking is whether or not predictions markets will steal away customers from their existing player base. That’s not something Gillespie is feeling concerned about. “It could cut into the traditional local state-based regulated sports betting operations, but I think it will grow the market more than it will impact them,” he said.
“And I think the big operators in the United States understand that. Why would they not put it through that channel if they could, and if it was legal?”
While Gambling.com is interested in predictions markets, in part because they are not a grey legal area, he wasn’t so sure about the sweepstakes market saying, “It’s growing, but we tend to focus on regulated markets and doing everything by the book. So we look forward to more clarity on how those products are regarded.”