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A Bet365 spokesperson said the company was working to limit the number of job losses and support employees affected by the changes.
“We are committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies,” the spokesperson said. “As a first step, we are planning a programme of voluntary redundancies.
“Our colleagues are our priority. We understand the concerns many will have. Impacted staff have been informed and are being fully supported throughout this process.”
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Robinson calls prediction markets “the main event”. His argument is not simply that US customers are moving from sportsbooks to prediction markets. The more important point is that sportsbooks no longer have the relatively protected market that was once assumed.
Kalshi, Robinhood, Crypto.com and DraftKings’ own prediction-market operation are all competing for activity around sporting events. Beynon says prediction markets are having a larger effect on valuations than on fundamentals so far.
The existence of a new competitor does not automatically mean sportsbook revenue will collapse. But valuations do not require proof of collapse to fall. A loss of confidence in future growth can be enough.
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Polymarket also has marketing deals with Major League Baseball (MLB), Major League Soccer (MLS), the NHL and UFC.
While the Polymarket/Yahoo Finance situation is one of the earliest examples of a severed relationship between a prediction market operator and a media entity, that doesn’t mean those “divorces” will permeate the two industries.
There’s widespread belief that old guard media companies are incentivized to feature event contract data on their sites or reference it in select publications as a way of better connecting with younger readers and viewers.
