American telecommunications group Verizon Communications is reportedly mulling a choice to invest in a sportsbetting firm with the intention of capitalizing on a lucrative US legalized market.
The company is considering buying in to ventureCiting, which provides an online sportsbetting platform. The company already has bought into the lucrative fantasy sports market through its purchase of Yahoo, which has 1.3 billion customers. A purchase would allow the company to potentially provide services to a large chunk of those customers.
The United States is gearing up for a legalized sportsbetting market, as the state of New Jersey is challenging the constitutionality of making sportsbetting illegal. The open hearing on the matter in front of the Supreme Court led to many analysts predicting that sportsbetting will be legalized in the country of 320 million, which would create a huge industry.
We'll be following this story closely and will update readers as we learn more.