Legal sports gambling is inspiring entrepreneurship and innovation
Wayne Kimmel is a sports tech venture capitalist, entrepreneur and author of Six Degrees of Wayne Kimmel.
He is the Managing Partner of SeventySix Capital, the venture capital company he founded in 1999, and invests in startup consumer facing tech companies in the sports tech, sports betting, esports and retail industries. Among the Fortune 500 companies that have acquired his portfolio companies are Aramark, Intel, IBM, Walgreens and Yahoo! His partners at SeventySix Capital are Jon Powell, a leading real estate executive, and Ryan Howard, MLB legend and World Series Champion.
Wayne and his team recently launched the SeventySix Capital Athlete Venture Group, which allows professional athletes to invest, learn, and work directly with top sports tech startups and entrepreneurs. The firm aims to bridge the gap between athletes, entrepreneurs, and investors by creating opportunities for athletes to become tech investors and for entrepreneurs to access the financial and social capital that professional athletes have to offer. Athlete Venture Group members include Ryan Howard, DeMarco Murray, Ralph Sampson and Brian Westbrook. SeventySix Capital also has a partnership with Rubicon Talent, a sports marketing and talent agency based in New York City.
In this episode the following topics are discussed:
- Startup sports tech companies
- The criteria for startup selection
- Selecting people who are “nice” and why
- Sports betting startups
- Athlete venture group
- The overturn of PASPA
- How will people talk about sports and sports betting: VSiN and Brent Musburger
- A media studio inside a Sports Book
- From a 5B to 500B industry for sports betting
- To be innovative you must do things that people do not understand
- Next generation sports book at the Sacramento Kings arena
- Predictive analytics and the casino Operator
- Getting into the sports industry as a young college graduate
- The startup profile to be considered at SeventySix Capital
- If you are passionate about sports and technology the timing is right
- Athletes thinking of themselves as entrepreneurs
- Regulated sports betting is an exciting time to be doing business