New Data-Driven Sports Wagering Platform Outlier Launches

The sports betting industry has become extremely competitive in recent years. While it’s always been a dog-eat-dog world in wagering, this has especially been the case since the overturning of PASPA in 2018 as numerous states have launched legal sports betting. For example, the upcoming rollout of Maryland sports betting will add another major U.S. sports betting market before Thanksgiving.

With sports betting as a whole trending upward, plenty of new companies are embracing the industry as seen with the bettor-friendly platform Outlier. Here’s what you need to know about the new Outlier sports betting tool and how the industry continues to change.

Colorcast Rebranding As Outlier For New Betting Tool

There’s a new player in the world of sports betting. Outlier, based out of Austin, TX, is entering sports betting to provide a new data-driven platform. Formerly known as Colorcast, a company focused on fan engagement, Outlier will help bettors place smarter wagers with comparative odds, advanced statistics, and betting trends. This means that within a few clicks you can check out the different trends for the best bet, access the sportsbook of your choice (FanDuel Sportsbook, BetMGM Sportsbook, DraftKings Sportsbook, Caesars Sportsbook etc.) and place your bet.

These extra tools will help players place more informed bets, be they straight up bets on the spreads or totals or even player props. According to Luis Lafer-Sousa, CTO and Co-Founder of Outlier, the company is hoping to solve the often ineffectual and confusing process of diving into statistics to find a best bet to place. Outlier is currently available on its desktop site, although an iOS mobile app is expected to be released sooner rather than later.

As Outlier Launches, Another Company Exits Sports Betting

Colorcast evolving into Outlier and focusing on sports wagering is an intriguing move considering the massive growth that sports wagering has seen in the past few years. However, as Outlier enters the sports betting industry, another brand has decided to move away from it altogether. MaximBet, a fairly new sports betting app from the Maxim entertainment brand, has closed its operations and will no longer accept bets or deposits.

The news came this week as MaximBet users in Indiana and Colorado (the two states where the platform was active) will need to find a new online sportsbook to place bets with. The mobile sportsbook showed promise, especially with rapper Nicki Minaj as an investor and brand ambassador. However, despite plans for MaximBet to expand into new markets such as Iowa, Ohio, Pennsylvania, New Jersey, and Ontario, MaximBet won’t take any wagers going forward.

This wasn’t the only sports betting site to withdraw from the industry this year. TwinSpires Sportsbook, a platform from horse racing-focused Churchill Downs, also closed earlier this year. Meanwhile, Fubo Sportsbook, the innovative platform from Fubo TV, had major plans to move forward in the industry after launching in Iowa, Arizona, and New Jersey and striking professional partnerships with teams like the Cleveland Cavaliers.

However, just a few months ago it was announced that Fubo Sportsbook is also backing out of the industry. With some standard sportsbooks closing down and new tools like Outlier providing unique tools for bettors, it’s clear that the industry as a whole is in a state of transition.