ClutchBet Shuts Down, Impact on Small Betting Firms

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00:00A clutch bet is the first sports betting operator shutting down in the United States and then

00:08we'll get to Betsafe, another company out of Colorado.

00:12So I mean, Matt, it just tells you how poorly things must be going if you can't make it

00:17to the football season.

00:20That's what really shocks you, right?

00:21It's right before the football season and you would think this is where you make your

00:25money for the year.

00:26And Craig, they're just too small.

00:30Now with Clutchbet, their parent company Bluebet is from Australia.

00:34They actually just merged with another Australian betting company.

00:37So they're just taking their dollars and they're focusing on it there.

00:41And they basically said, you know, look, the US operators that are at scale right now,

00:47it's just simply too hard for the smaller operators to compete with that.

00:52And Betsafe is the same.

00:54They are operated by a company called Betsin and Betsin has a ton of European sports betting

01:00knowledge.

01:01They've been doing it for years, but it just didn't work out in Colorado.

01:06There were some people on social media that I saw that didn't even know that Betsin had

01:11a sportsbook in Colorado called Betsafe.

01:14So you know, these smaller companies, it's interesting to see when the smaller companies

01:20are building out their technology and they have something tangible to offer, they're

01:24getting bought up.

01:25When it's smaller companies like this and they only have their player list, you know,

01:30a lot of those players are probably with DraftKings, FanDuel, whoever already, right?

01:34If you're signing up with a Clutchbet or a Betsafe.

01:36So there may not be a whole lot of value in those player databases and they just kind

01:40of fold up and we're seeing it continue and it's going to keep going, Craig.