A Philadelphia Phillies great is buying into a broadcasting legend’s latest foray into sports gambling media.
It was announced Monday that SeventySix Capital has made a strategic investment in Vegas Stats & Information Network (VSiN). VSiN is a media network solely dedicated to sports betting information.
SeventySix Capital is led by partners Wayne Kimmel, Jon Powell, and Ryan Howard. Howard spent the entirety of his 13-year Major League Baseball career with the Phillies, winning the National League Rookie of the Year Award in 2005 and NL Most Valuable Player Award in 2006.
Additionally, Howard is a three-time All-Star, who won the World Series with the Phillies in 2008 and the NL Championship Series MVP Award in 2009.
According to a press release, the goal of the investment is to aid Las Vegas, Nevada-based VSiN in expanding its video capabilities and data offering. Plus, it will help the organization create and distribute compelling and actionable sports gambling content.
Hall of Fame Sportscaster Brent Musburger
Hall of Fame Sportscaster Brent Musburger is VSiN’s co-founder. Additionally, he has served as its lead on-air personality since leaving ESPN and ABC Sports in 2017.
Musburger has developed a reputation for fitting thinly-veiled gambling references into his broadcasts. However, with VSiN, the veil has been lifted.
A May 2018 US Supreme Court decision lifted a federal ban on sports betting, creating an emerging US sports betting market across states willing to legalize it. Plus, a growing demand for sports betting media and information networks like VSiN.
Howard said SeventySix Capital wants in the US sports betting market. Plus, the media and information side of things is a critical aspect of it:
“If someone is going to place a sports bet, credible information is crucial. My partners and I at SeventySix Capital are investing in the elements within the sports betting industry that consumers need, including data collection, analytics and, now, media.”
Kimmel’s family owns the two-time United States Football League champion Philadelphia/Baltimore Stars. He said the growing US sports betting sector made VSiN a viable investment for the sports tech venture capitalists:
“The sports betting industry is projected to be over $250 billion by 2020 and we believe that VSiN is positioned to capture a significant share of the media and analytics segment of this new market. We’re excited to partner with the VSiN team to build the media network for the sports betting industry.”
The growth of US sports gambling
VSiN Co-Founder, Chairman and Musberger’s nephew Brian Musburger said the investment comes at a perfect time:
“This investment comes at an exciting time, as the legalization of sports gambling across the country is driving an evolution within the sports media space. This will change the way people watch sports. We couldn’t be more thrilled that Wayne, Ryan and the SeventySix Capital team are taking this ride with us. The team’s knowledge and expertise within sports and technology make them an essential partner. We’re looking forward to leveraging their expertise and relationships to capitalize on the huge and rapidly growing opportunity within the sports betting space.”
SeventySix Capital and sports
SeventySix Capital also has a strategic partnership with Rubicon Talent. Rubicon is a New York sports marketing and talent agency. It represents baseball legend Cal Ripken, Jr. and NFL stars Emmanuel Sanders, Greg Olsen, Mark Ingram, and DeMarco Murray.
Terms of SeventySix Capital’s VSiN investment are not available. However, estimates have it in the seven-figure range.