According to the American Gambling Association, the American sports betting market made $10.9 billion in revenue in 2023 for casinos, sportsbooks, and iGaming. The industry is profitable because most people who bet on sports end up losing. DubClub, a startup based in San Francisco, is trying to change this.
Ryan Gaertner, co-founder and CEO of DubClub, explained that when people bet on sports, they are at a disadvantage compared to sportsbooks. Sportsbooks have more data and make money when people lose. DubClub aims to help amateur betters win more by connecting them with experts who can provide insights on which bets to make.
The idea for DubClub came from a conversation between co-founders Andrew Daschbach and Lewis Burik. They wanted to improve their betting strategies but found it difficult to find reliable handicappers. DubClub offers a platform where users can subscribe to professional handicappers who share their picks through text, email, or Discord.
Since its launch in 2021, DubClub has gained over 1 million subscribers. Recently, the company raised $7.5 million in a Series A round to enhance its technology and hire more engineers and product experts.
Roseanne Wineck, a managing director at Renegade Partners, was introduced to DubClub through Tripp Jones from Uncork Capital. Despite the potential growth in the sports betting industry, it is a challenging sector due to its association with addiction. DubClub aims to provide a platform for users who bet on sports as a hobby, not as a career, and is considering implementing measures to limit how much money users can spend on the platform.
While DubClub is not the only company connecting handicappers with sports betters, it aims to expand its features to create a more interactive and social platform for discussing bets. Ryan Gaertner emphasized that DubClub’s goal is to help users win more collaboratively.
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