Here's an interesting article from today's WSJ on the impending shakeout in US sports betting. The Upcoming NFL Season Is Crunch Time for Sports Betting

Holders of PBH will have enjoyed great returns over the last 2 years, particularly following the transformational deal with NBC. But with the latest results, continuing cash burn and capital raising we must all be wondering, will it be one of the 3 to 5 winners, will it be taken out in industry consolidation (so we'll "win") or is the capital burn a road to nowhere?

There are also a number of other small ASX sportbetting players being touted. While we can be sure they will go through a period of burning capital to enter the market, do they really have any propsect of creating value or has the boat sailed?

The article doesn't offer any answers, but gives a nice perspective of the evolving market.

[DIsc. I hold PBH in RW but not in SM]