NBA Star Kevin Garnett Partakes in Pro League Network's $2.2M Funding Round
The Pro League Network (PLN), according to its officials, raised around $2.2 million in their latest fundraising round.
This organization specializes in organizing and regulating niche sporting events to ensure fair play for results to be considered in sports betting. It provides sportsbooks with unique, live professional sports optimized for wagering operators. One of the co-founders, Mike Salvaris, is confident that this investment is a good bet. He believes that if even one of their sports becomes a hit, investors will benefit from the equity in the respective leagues.
PLN has developed several unusual sports, such as CarJitsu where jiu-jitsu fighters face off inside vehicles. Other unique sports claimed by PLN are SlapFight, a slap-fighting competition, Major League Paintball, and a basketball game called Str33t with former NBA star Kevin Garnett. In total, PLN owns or manages close to 20 sports brands.
While PLN itself isn't active in the betting industry, it provides the integrity needed for niche sports that are suitable for licensed sportsbooks. Most states require gaming regulators to approve sports and events offered by licensed sportsbooks. As a result, contests usually come with several safety measures to prevent fairness issues like match-fixing. PLN's sports have received attention from several sportsbook operators in the U.S., such as DraftKings and Bet365, in states where the sports have been approved for gambling. They have been bet on in over a dozen states, including Arizona, Illinois, Maryland, New Jersey, Pennsylvania, and Tennessee.
PLN officials call themselves an entertainment company that creates content for wagering purposes. Salvaris, one of the co-founders, mentioned, "We're an entertainment company making made-for-wagering content." His co-founder Bill Yucatonis stated, "We're solving a problem. We're targeting times and days that we know are a blemish for operators." The duo intends to use the fresh funds to further develop their most promising properties — CarJitsu, the World Putting League, SlapFight, and Str33t. The latter is a game with 15-minute matches, enhancing betting opportunities and allowing players and teams to participate in multiple matches per day.
PLN is based in Branson, Missouri. They aim to produce up to 40 hours of sports programming per week by the end of the year. They commenced production services in December.
However, some sports bettors question the appeal of wagering on offbeat sports like those organized by PLN. A discussion on Reddit titled "CarJitsu is ridiculous" exhibits mixed opinions. One of the participants commented, "Possibly the stupidest thing to have ever happened to jiu-jitsu. Or cars." While another user wrote, "I mean it's kind of entertaining to watch."
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