ALT Sports Data

This week’s startup is a SportsTech company founded by Michael Jordan. Don’t believe us? Take a look at the founders section!

…then again, we didn’t say it was the Michael Jordan.

ICYMI: We’re coming to Utah this week. If you’re in Salt Lake City and want to grab drinks with us (and some awesome founders + investors), register for our event on Thursday. See you there!

Ethan and Arek 🦄

ALT Sports Data is a sports data platform with a focus on real-time data collection for alternative sports like surfing, jai alai, and bare-knuckle boxing. It provides this data to sportsbooks, enabling these sports to be bet on and inviting fans to further engage with them. It also offers [PRTL] for traders, an auto-manual trading platform which includes real-time, exportable odds on numerous leagues and notifies users when odds are updated.

Check it out: altsportsdata.com

Before Apollo, Huntr.co was a lean AI-powered resume builder targeting career services at coding bootcamps. Their initial market was small, making growth challenging.

With Apollo, they launched hyper-targeted cold outreach campaigns, achieving an unheard-of 30% reply rate. Revenue doubled quickly, hitting $1 million ARR in just 10 months, while tripling their team.

Huntr calls Apollo “one of the easiest tools to test out,” with no song-and-dance demos, just fast, measurable results.

Ready to replicate Huntr’s success?

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ALT Sports Data sells or licenses sports statistics to sportsbooks and other platforms. For example, ALT Sports Data can provide real-time odds to a sportsbook like DraftKings or FanDuel for an event such as the Street League Skateboarding Finals, so that fans can bet using accurate, real-time data.

• Raised a $5 million seed round this year led by Relay Ventures and Eberg Capital with participation from Motley Fool Ventures and Scrum Ventures

• Affiliate partners with notable sportsbooks including DraftKings and FanDuel

• Partnered with over 25 premier sports and selected by Formula 1 as its betting supplier

• 150% increase in user activity over the course of 6 months on its betting insights platform, NXTbets

• Motorsports Data Scientist - Sports Betting & Data Modeling

Since 2018, nearly $450 billion has been spent on sports betting, just in the U.S. As sports betting has been legalized in 38 states, with 30 of those states allowing online betting, this figure reflects a trend that is here to stay. We’ve already seen a huge movement around the industry over the past few years, with social media “over-under” trends highlighting sports betting’s popularity among the current generation. 

Mainstream leagues, such as the NBA and NFL, have betting markets that are inevitably bound to be large, but also highly competitive, for sports data providers. Alternatively (pun intended), the markets for alternative sports such as surfing, skateboarding, and drag racing have seen growing, unique fan bases. ALT Sports Data offers alternative sports fans the opportunity to further engage with their hobby and taps into this market by providing real-time sports data to sportsbooks.

Though not as widely broadcast as their big-name counterparts, alternative sports still have a massive, and quickly growing, audience. For example, in 2023, the World Surf League had 25 million video-on-demand views heading into the finals, an increase of 58% over the last year. And it’s not just surfing. Street League Skateboarding saw a 75% increase in viewership in its finals from 2023 to 2024. Both of these trends reflect an increase in spectatorship of alternative sports and the potential for fan engagement and monetization growing with it. 

This, in hand with how sports bettors of alternative sports tend to bet five times as much and three times as often as those of the traditional sports, truly illustrates the potential of this market. ALT Sports Data’s media and betting insights platform, NXTbets, displays just this. It provides live odds, statistics, and analyses to fans and bettors of these sports, and it has seen a 150% increase in user activity over the course of 6 months.

In addition to its primary data services, ALT Sports Data provides [PRTL], its auto-manual trading platform for traders who want real-time data of multiple leagues without the hassle of complicated software integrations. Such setups can be both time-consuming and expensive, and [PRTL] bypasses those difficulties, even exporting odds into an easy-to-use Excel file. Additionally, it sends alerts through text messages as odds are updated, keeping traders up-to-date. 

With the combined increases in popularity of sports betting and alternative sports, ALT Sports Data finds itself in a great position. It's demonstrated practicality through services like [PRTL], showing how prepared it is to provide a seamless experience to partners and fans.

• Unlocking Betting Markets for Niche Sports with ALT Sports Data [SportsTechX]

• ALT Sports Data: bringing bettors to ‘underserved’ non-traditional sports [SBC Americas]

• ALT Sports Data completes $5m funding round [NEXT.io]

• ALT Sports Data Funded $5M to Expand NXTbets Platform [Accredited Investor Network]

The best way to support us is by checking out our sponsors. Our partner for this week is Apollo!