Unikrn CEO Rahul Sood Wants to Create a Safe Space for Esports Gambling
*By Brandon Brathwaite*
After the "TMartin Counter-Strike: Global Offensive" skin scandal ー in which CSGO Lotto deceived users into thinking their odds were more favorable than they actually were ー the subject of gambling and esports became a point of serious tension for gamers.
For companies like Unikrn, which built its platform on the practice of esports betting, battling that stigma is a central, implicit part of the operation.
But according to CEO and co-founder Rahul Sood, the company is determined to make betting on esports a “safe, legal, and relegated” space.
Sood told Cheddar Sports: “I like to bet on sports and I like to bet on esports.”
“Up until now,” he added, “there hasn’t been a comprehensive legit space to bet.”
Fortunately, Sood has some pretty influential partners.
Unikrn has investments from celebrity names like Mark Cuban and Ashton Kutcher ー the company has raised $10 million in venture funding and an additional $25 million for an initial coin offering for its cryptocurrency, UnikoinGold. Through UnikoinGold or U.S. dollars, users can bet on esports events ー and even bet on themselves in games.
“For example, you can load up a game in ‘Fortnite’ and you can bet on yourself that you’ll be 1 of 100. We’ll put odds on your chances of being that one of 100,” Sood said.
As for the prospects of esports as a whole, Sood is optimistic about its future ー and he pointed to moments like Drake and Ninja’s Twitch stream as a positive indicator of its growth. He predicted that "the future of sports is really esports."
“When you start to look at these older sports they’re losing the younger demographic or their fans are getting older,” Sood said.
“More esports fans are being born. That’s just the reality of the situation.”
Stephen Smith, Founder and CEO of Kitman Labs, joins Cheddar News' Closing Bell, where he explains how his company's intelligence platform is engineering change in how athletes and sports teams prepare for games.
Sportswear giant Adidas is giving student-athletes the opportunity to become partners as affiliate brand ambassadors to help grow their networks as professional athletes. Attorney Darren Heitner, the founder of Heitner Legal, joined Cheddar News to talk about the legalities of the process. "It is absolutely a game-changer because we see a major brand make a big splash, nine months into name image and likeness rights for college athletes," he said. "While it is a paid brand affiliate type of partnership, it will open the door for 50,000-plus athletes across the country to start making some money, even if it's just through other people clicking their links and making purchases."
State and county taxpayers will be asked to commit a record $850 million in public funds toward construction of the Buffalo Bills’ new stadium as part of a 30-year lease agreement.
Saint Peter's University - a small school in New Jersey school - has skyrocketed to the center of the sports world in a 'Cinderella' story for the record books. The ultimate underdog of the men's March Madness tournament is just the third 15-seed to reach the Sweet 16, after beating Murray State and college basketball powerhouse Kentucky. Throughout the university's historic run, Saint Pete's has reportedly been earning what amounts to millions of dollars in publicity. Amanda Christovich, reporter for Front Office Sports, joins Cheddar News' Closing Bell to discuss.
ESPN College Gameday LaPhonso Ellis joins Cheddar Bets to break down the NCAA Tournament so far, and who will make noise all the way down to New Orleans.
Sponsored by BetMGM
BetMGM Host Olivia Harlan Dekker joins Cheddar Bets to talk about lessons learned from this year's NCAA Tournament and to share which teams have the best value going forward.
Sponsored by BetMGM
Emmanuel Acho joined Cheddar News to talk about his new book "Illogical: Saying Yes to a Life Without Limits." The former NFL player, current broadcaster, and host is on a mission to help people see beyond the goals that they have set for themselves. “People say 'what is being illogical?'" he said. "To me, it's believing it is so even when it's not so — so that it can be so."
Adidas is now the first major sports brand to create a program for paying college athletes. The new "name, image and likeness" network will allow more than 50,000 students across NCAA Division 1 schools to become paid spokespeople for the brand. Thilo Kunkel, Associate Professor and Director of Sport Industry Research Center at Temple University, tells us why this new program is only the beginning of an exciting time for student athletes.
