Name: Underdog Shifts Focus to Prediction Markets in Sports Betting
Uploaded: 2025-12-12T16:23:38-05:00
Duration: 3 min 9 s
Description: Underdog exits North Carolina sportsbook to focus on prediction markets, now active in 25 states with plans for more. Transition emphasizes industry trend.

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Underdog exits North Carolina sportsbook to focus on prediction markets, now active in 25 states with plans for more. Transition emphasizes industry trend.

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Underdog Shifts Focus to Prediction Markets in Sports Betting

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But our stories today lead off with where they have been for the most part, this uh summer and fall, which is uh the prediction markets, and another company has decided to solely focus on them in a certain state. I don't wanna steal your thunder, so you'll tell us more about that and maybe why the decision was made. Yeah, and I expect that'll be the case going into the winter as well and even into next spring and next summer where prediction markets are really dominating all of the sports betting news, the latest here being that Underdog, which only had a sports book in North Carolina, is now shutting down that sports book. Next Wednesday is when it will fully stop being a sports book and instead it will replace it with prediction markets. It was Only state where Underdog had a sports book launched there about March of 2024. So kind of the company's original plan had been to acquire a lot of users and customers as a daily fantasy sports product. It obviously had a lot of kind of controversy over how it did that originally with its pick em games, which a lot of people sort of likened to parlays without following the sports. Rules, it's really just kind of abandoning its sports betting hopes, switching fully over to prediction markets where it's now live in about 25 states under a partnership with Crypto.com, which is the one that supplies the markets and underdog kind of just puts it on its platform, but Kind of the details around the shutdown really signal that it's going to be solely focusing on prediction markets going forward now. It's going to actually pay out any outstanding debts in the maximum amount before that date. So even futures you have on things that haven't happened or won't likely won't happen, it's, according to its website, going to pay out, and customers don't. Even have to like go in and take their funds out as they usually have to do by a certain date in a lot of places because Underdog is just switching over to its fantasy product and prediction market in the state. So if you get paid out any of the bets you had outstanding, you don't need to rush in before next Wednesday. You can kind of just wait and use it on the new product that they're going to have there, which again is probably part of their plan to Kind of convert everything over to a prediction market, and I think really signals just how massive prediction markets have become in the sports betting industry when you have a company like Underdog, which spent so much time acquiring licenses in states to eventually build out its sportsbook, had its sportsbook, and now all of a sudden you have prediction markets which seem like they're here to stay and A major company is switching over to that as its main product, so it never signaled that it was going to not do this. It withdrawed its license in Missouri just before the launch about a month ago, so it never really said quite out flat that it was going to be only prediction markets, but now it looks like that's very much the case, and it'll be really interesting to watch next year as, you know, you have prediction markets in this wild west and companies now fully kind of betting on them. DraftKings, FanDuel, of course, expected to follow as well.

Underdog Shifts Focus to Prediction Markets in Sports Betting

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