• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Underdog Fantasy Seeks To Upend The Sportsbook Industry

Despite a late start, Jeremy Levine and Co. are gearing up to take on the titans in the space

Jeff Edelstein by Jeff Edelstein
September 22, 2021
in Features
david goliath

(Shutterstock)

Share on FacebookShare on Twitter

Jeremy Levine founded StarStreet, a daily fantasy site that was quickly gobbled up by DraftKings and then put out to pasture. Levine then founded a second daily fantasy site — DRAFT — and that was eventually purchased by Paddy Power Betfair, which then bought FanDuel, which then merged DRAFT into Fanduel before eventually taking it out behind the woodshed.

But Levine wasn’t done yet, launching Underdog Fantasy in February 2020 with much of the same team that first launched DRAFT. And Underdog took off this year, with Best Ball tournaments leading the charge.

And while Underdog fantasy contests have received much praise from the DFS community, Levine’s latest foray into fantasy was just the beginning, as he and the company announced this month they were getting into the sportsbook industry, with an expected launch date sometime before the start of the 2022 NFL season.

An announcement from our team… pic.twitter.com/LXTGiYO7F8

— Underdog Fantasy (@UnderdogFantasy) September 8, 2021

While Levine’s first two companies basically landed in the laps of DraftKings and FanDuel, Levine now has a new objective: He aims to take over the sports betting and daily fantasy space and put both DraftKings and FanDuel in the rear view mirror.

“We want to be the biggest company in the space,” Levine told Sports Handle. “No one in this industry can build product, innovate, or provide great customer experience like we can. I’m a believer in product and innovation and treating customers well. And I think that’s a massive advantage we have.”

Levine said he expects Underdog to be the dominant force in the industry within seven years.

Tick-tock.

Plans from the beginning

Getting into the sportsbook space is not a snap decision by Levine, who is the president and chairman of the company. It was the plan from the beginning, although he notes the timeline is speeding up.

“Things have gone faster in the beginning than we expected,” Levine said. 

And while Levine recognizes his company will be late to the sportsbook party, he’s convinced that the vast numbers of users Underdog already has will serve as rocket fuel to catch up to the big players.

“It was apparent to me when PASPA was repealed that DraftKings and FanDuel were going to be the two largest players in the space because of the inherent structural advantage they have of being able to draw players from their daily fantasy offerings,” Levine said. “And we have those same advantages, basically having a huge database of players that are sports bettors and have money in their account. That’s a big difference than a database of loyalty rewards players who signed up three and half years ago.

“Sure, the legacy casinos might have millions of loyalty rewards customers, but how many are grandmothers with rewards cards? We have a database of people playing daily fantasy for money, with money in their accounts.”

Levine said that in the last 30 days, Underdog has had more than 60,000 active players in its system.

“I don’t know how exactly that stacks us against others in the sportsbook industry, but my guess is that puts us in a tier right under FanDuel and DraftKings,” Levine said.

Not your grandfather’s sportsbook

Levine also plans on offering a dramatically different sports betting experience than what is currently available to would-be bettors.

“We’re really excited about one of our big initiatives: We’re going to build a not-so-traditional sportsbook,” Levine said, promising “a whole new live betting experience that doesn’t feel like the static sportsbook experience in the industry. Ours will look quite different. It will feel more like an immersive experience. And moving forward we’re looking at different platforms, like voice, augmented reality, virtual reality.”

In addition to the sportsbook, Levine and Underdog — which boasts an all-star cast of investors, including Marc Cuban, Kevin Durant and Adam Schefter — plan on offering a full suite of sports betting adjacent products, such as March Madness brackets, Survivor pools, Super Bowl squares, you name it.

“It’s always been a view of ours that winning companies in this space should have multiple pieces, multiple platforms, more than just being somewhere to place a bet,” Levine said. “The same customers like fantasy sports, March Madness brackets, survivor pools, collecting sports cards. They’re playing poker, they’re doing a whole bunch of things. It’s very clear to me the biggest companies in the space need to have the full suite of platforms. And we believe we can build this better than anyone else.”

Even, perhaps, a more “traditional” daily fantasy product?

“That’s definitely something we have in mind,” Levine said. “I don’t want to comment on specific products, but we’re going to listen to our customers and build for our customers and be the biggest company in the space.”

And as for the sportsbook?

“Basically everyone is targeting the same customers, with the same offers, with the same product, built on the same third party platforms,” Levine said. “There’s an opportunity to build something way more interesting and unique, and it’s not just about the sportsbook and it’s not just about traditional bets.”

Of course, Levine has a track record in this space, so betting against him seems like a fool’s errand. 

But part of that track record involves having sold his companies as they were growing. Which raised the following question: Has anyone knocked on your door trying to buy Underdog?

“Absolutely,” Levine replied.

Follow-up question: Are you looking to sell?

“Absolutely not,” Levine said.

ShareTweetShare
Jeff Edelstein

Jeff Edelstein

Jeff is a veteran journalist, working as a columnist for The Trentonian newspaper in Trenton, NJ for a number of years. He's also an avid sports bettor and DFS player. He can be reached at jedelstein@bettercollective.com.

Related Posts

whats on tap
Industry

What’s On Tap: Super Bowl LVII, ICE London, And LeBron’s Pursuit Of NBA Scoring Record

February 6, 2023
Photo by Bob Levey/Getty Images
Promotions

FanDuel Promo Code: $3,000 No Sweat First Bet for No. 3 Houston at Temple

February 5, 2023
Load More

Top Stories

fanduel-retail-sportsbook-front

Requiem For The So-Called ‘Risk-Free Bet’

February 2, 2023
garnett mgm springfield

Sports Betting Launches In Massachusetts, Giving Three Retail Books A Head Start

January 31, 2023
springfield thunderbirds betmgm opening

What’s Next For BetMGM As Entain Nears End Of Commitment To U.S. Joint Venture?

February 3, 2023
anthony-grant-coaching

Regulators, Colleges Grapple With Impact Of Angry Online Gamblers

February 6, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
February 2, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
February 6, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
October 20, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
19+. Please play responsibly. Terms and conditions apply. 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...

Please share your location to continue.

Check our help guide for more info.

share your location