New US sports data firm formed by Chernin

w US sports data firm has been created by the Chernin Group, named The Action Network.

Media tycoon Peter Chernin established the new company by purchasing FantasyLabs, SportsAction and Sports Insights. The formation of The Action Network was to "give sports bettors access to data and analytical tools, along with articles, podcasts and videos that analyse sports from the perspective of a fan that has money on the line. We’re living in a world where people are getting scores almost immediately, getting highlights almost immediately.”

FantasyLabs are a daily fantasy sports data firm which offers its users vast amounts of information on their selections. SportsAction is an app which offers sports fans the ability to track their bets, check live scores and analysis as well as offering pro tips. Finally Sports Insights offers bettors ‘innovative sports betting software to make smarter bets.

Mark Cuban, celebrity entrepreneur and Owner of the Dallas Mavericks, who has invested in FantasyLabs, said: “My investment in FantasyLabs was a bet on the future of how people consume sports – with something at Stake.The Company’s acquisition by the Chernin Group and the creation of the Action Network reaffirm that this market is underserved.”

The investment comes at a time when the United States has begun a period of reviewing, concerning the gambling industry. Currently DFS is one of the only widely available online gaming platforms. The creation of The Action Network is an investment in future growth of online gaming in the country as it merges online platforms with sports data companies. As legislation eases in various states, investors are beginning to position themselves to take advantage of the American online gaming industry.