About Better Collective
Better Collective is a European company that started in 2004. They are a world leader and developer of digital platforms for bookmaker information, iGaming communities, and betting tips. Their goal is to “make sports betting and gambling entertaining, transparent and fair for the global network of online bettors”.
Better Collective provides leading online bookmakers and casinos with targeted user acquisition and increased user engagement and retention. Some sites that Better Collective is partnered with include bet365, Betfair, and Unibet.
Better Collective provides sports bettors with a number of helpful tools. Odds comparisons and insight into safe sports betting sights are some of the things Better Collective offers. Some of Better Collective’s biggest brands include BettingExpert.com, SmartBets, and BetBehind.
RotoGrinders was founded in 2009 and is headquartered in Nashville Tennessee. RotoGrinders has a strong presence for sports betting and daily fantasy sports. Some of their websites include RotoGrinders.com, PocketFives.com, SportsHandle.com, USBets.com, and PennBets.com. Originally a DFS focused company, RotoGrinders has since expanded into the sports betting world. They began their move towards sports betting after the removal of the federal ban on sports betting back in 2018.
For now, the remaining 40 percent of shares in RotoGrinders is held by the company’s three founders and other major employees. The company has a total employment of around 50. In 2018 RotoGrinders generated more than $8 million in revenue. That number is expected to increase to over $10 million in 2019 with their collaboration with Better Collective.
This acquisition is a big opportunity for both parties. Better Collective gets more involved in a US sports betting market that is expected to be a more than $6 billion industry. RotoGrinders, which started as a small DFS site, now has the resources and tools to expand even further into the sports betting market.
Up to 35 percent of future payments to RotoGrinders may come in the form of Better Collective shares. Any shares as part of the payment are subject to a one-year lock-up period from the issue date. This includes current and future payments.
Calvin Spears is the CEO and co-founder of RotoGrinders. He said that this acquisition will help “ramp up production, improvement, and innovation of the DFS tools and content that bring you to this site (RotoGrinders.com) each day. We’re excited to remain anchored in DFS while investing more aggressively in sports betting.”
Better Collective has a portfolio that includes over 2,000 websites and products. Building a presence and taking part in the new sports betting market opportunity is now boosted by the acquisition of RotoGrinders.
Overseas Companies Continuing to Enter US Sports Betting Market
William Hill was the first European company to make its way into the United States. In June 2012, William Hill expanded its operations to Nevada. Nevada was the only state with legal full-fledged sports wagering at the time. A $53 million deal gave William hill control of 55 percent of the state’s sportsbook location and rebranded them under the William Hill name. After the Supreme Court ruling in May 2018, William Hill entered the New Jersey market with agreements to provide bookmaking services for Monmouth Park Racetrack and Ocean Resort Casino.
The next major European company to enter the U.S. was Paddy Power Betfair. They acquired FanDuel in July 2018 and their U.S. operations became known as FanDuel Group. Their first FanDuel branded sportsbook opened at the Meadowlands Racetrack in New Jersey and is currently the state’s top sportsbook in terms of revenue.
The European sports market has more experience than the United States does. We can expect to see more experiences sports betting companies in Europe try and make their way into the growing U.S. market. DraftKings was rumored to be working on a deal to be acquired by the Kindred Group, another European company. Nothing has transpired yet, but something could possibly come about down the road as DraftKings looks to keep pace with FanDuel.