The QL Gaming Group, which provides sports betting data and analytics to consumers, media companies and sportsbooks, has raised $1.1 million in funding, and acquired Finnish sports simulation company Accuscore.
The money and acquisition will be used to expand the company’s sports betting analytics platform, BETQL. It’ll also accelerate the launch of BETQL’s player prop and in-game predictions, and allow for more sports like pro soccer, tennis, golf and eSports.
The capital raise was led by Tim and Todd McSweeney, and also included Boston Seed Capital, Karlani Capital, Subersive Capital.
QL Gaming, formerly known as RotoQL, has now raised more than $8 million from investors including the late David Stern, the former commissioner of the National Basketball Association; John Kosner, Stern’s former partner at Micromanagement Ventures; and former William Hill Chief Executive Officer Ralph Topping. William Hill, DraftKings and Fanduel are among the company’s business partners.
Legal betting on sports in the U.S. began expanding in 2018, when the Supreme Court struck down the federal ban outside Nevada. Morgan Stanley says the U.S. sports betting market may generate about $7 billion in revenue by 2025, up from about $830 million last year.
Accuscore predicts the outcomes of sporting events, taking into account things like past player performance, team composition, weather and coaching staff. It covers all major U.S. sports and 13 global soccer leagues. The company licenses its predictive data, which is utilized by media companies like ESPN, Turner and Yahoo.