Timing and agility dictate the success of most mergers and acquisitions, as Underdog Sports showed clearly in selling Thursday to IG Group for $1.3bn.
Underdog Sports, after starting with a daily fantasy app focused on pick’em and best ball games in 2020, swiftly pivoted to prediction markets towards the end of last year. This strategic move allowed them to capitalize on the growing trend and ultimately led to the successful acquisition by IG Group.