Underdog has reportedly become the first major licensed US gaming firm to offer sports prediction markets via a partnership with federally registered exchange Crypto.com.
The New York-based firm is essentially white-labeling Crypto’s sports events markets in US$ onto its existing app. A sports subsidiary of the Singapore-based crypto giant took to X with news of Tuesday’s launch:
In adding events betting to an app offering gambling and fantasy games that the firm stated in March was “the fourth most-downloaded app in sports and sports betting,” Underdog has taken the first bite of what’s predicted to become a lucrative market.
The Brooklyn brand’s founder and CEO Jeremy Levine boldly said in a Tuesday news release that “the future of prediction markets is going to be about sports – and no one does sports better than Underdog.”
Crypto’s Managing Director, Global Head of Capital Markets, Travis McGhee, said the Underdog partnership will “enhance the sports experience for customers nationwide.”
Underdog customers can now access events betting across the NFL, MLB, NBA and other major sports leagues. According to the release, “prices update in real-time, allowing customers to react instantly.”
