Las Vegas Sands invests in sports betting solutions provider Huddle
Las Vegas Sands has completed a strategic financial investment in data-driven sports betting business Huddle.
Huddle is a London-based start-up born out of the company formerly known as SimpleBet. It was co-founded by CEO Francesco Borgosano and chief business development officer Leo Gaspar.
The company describes itself as a software provider for operators of all sizes in regulated markets. It offers an array of automated solutions for trading, odds and risk management.
iGaming NEXT understands Las Vegas Sands has invested approximately $15m in Huddle, which will now be known as Huddle Tech Inc after merging with DeckPrism.
DeckPrism is a provider of North American odds. It specialises in supplying in-play betting markets for NFL, NCAA football, NBA, NCAA basketball, MLB and NHL.
DeckPrism was founded by Ed Miller in 2018. He will now become VP of innovation at Huddle Tech Inc.
The newly combined business – which combines European and North American trading expertise – will now expand to a team of 80 staff.
Huddle’s tech team was primarily based in Croatia and Eastern Europe and will remain there. The strategic investment does not represent a shift in focus away from Europe for Huddle.
Huddle Tech Inc CEO Francesco Borgosano: “Our long-term vision remains the same – we believe that there is no technology out there that will be better constructed to meet the needs of the modern operator.”
Las Vegas Sands has been under an industry microscope in recent months after it pledged to explore the online gaming and betting space.
The operator has so far steered clear of major M&A activity to facilitate a digital expansion and has instead chosen to focus on targeted investments in the B2B technology space.
Some of this strategy is being driven by Las Vegas Sands senior managing director Davis Catlin, who also worked at Sands Capital Management for more than 14 years.
In May, Catlin spoke at iGaming NEXT NYC ’22 on a panel focused on early stage investment challenges and opportunities in the North American iGaming industry.
Commenting on the investment, Huddle Tech Inc CEO Borgosano said: “Our long-term vision remains the same – we believe that there is no technology out there that will be better constructed to meet the needs of the modern operator.
“Operators need product differentiation, innovation and operational efficiency, and that is what Huddle brings.
“By combining our expertise with the IP and know-how of DeckPrism Sports, we have both solidified our existing products as well as dramatically accelerated our product development along that path,” he added.
Borgosano is set to record a podcast with iGaming NEXT tomorrow. In conversation with host Karolina Pelc, he will discuss Huddle’s journey to date.