Arctos, Kraft, Rubin Among Heavy Hitters in $35M Jackpot Raise
Summary
Others in the round include Fanatics CEO Michael Rubin, Arctos Sports Partners, the Kraft Group, DraftKings CEO Jason Robins, Sapphire Sport, NBA stars James Harden and Joel Embiid, and groups connected to the owners of the Cleveland Browns and Los Angeles Dodgers.Jackpot is hoping to capitalize on a U.S. lottery market estimated to be $100 billionfar bigger than the market for sports betting or live event ticketingbut currently conducted almost entirely via physical stores. It is looking to grow its business in America, where a handful of states have legalized the sale of online lottery tickets delivered digitally. They include Texas, New York, Ohio and New Jersey, which together represent about 21% of the U.S. population.Last month Jackpot hired Akshay Khanna, a former StubHub executive, to be CEO of its North American business. That likely means sports leagues and teams will play a central role in the marketingas weve seen in the past few years for gambling and cryptocurrency platforms. The company is planning to launch in the U.S. later this year.Courtside Ventures*, VC firm backed by Cleveland Cavaliers owner Dan GilbertAccomplice*, VC firm Fanatics CEO Michael Rubin DraftKings CEO Jason RobinsElysian Park Ventures, backed by the owners of the Los Angeles DodgersArctos Sports Partners, PE firm with equity stakes across the NBA, NHL, MLS and MLBHaslam Sports Group, owners of the Cleveland Browns and the Columbus CrewThe Kraft Group, owners of the New England PatriotsSapphire Sport, fund whose backers include City Football Group, the Boston Bruins and the New York Jets Fenway Sports Group president Mike Gordon Boston Red Sox president and CEO Sam Kennedy NBA player James Harden NBA player Joel Embiid Former NHL player Martin Brodeur Rapper Lil Baby