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Epoxy.ai, a Philadelphia tech start-up, aims to sync TV watching with sports betting

Bob Fernandez, The Philadelphia Inquirer on

Published in Science & Technology News

Chris Reynolds and Jason Angelides developed the gizmo on the TV remote that brought deep-dive sports stats — tracking game momentum and player statistics — to millions of Xfinity subscribers.

Now, less than two years after leaving executive jobs at Comcast Corp., they want a piece of the online sports betting action.

Reynolds and Angelides have launched a start-up, Epoxy.ai, in Berwyn, Pennsylvania, that aims to personalize the betting experience for 75 million sports fans who experts say could place more than $20 billion a year in wagers as more states legalize online sports betting.

Epoxy's first idea: to use the microphone on a mobile phone to determine what game a sports fan is watching and to synchronize the game on the television with a recommended bet. Reynolds said that a sports bettor would agree to the synchronization through the terms of service of the company that licenses Epoxy's technology. Epoxy's first customer is betParx, which is a sister company to Parx Casino.

"Amazon, Instagram, Spotify, those businesses are built on knowing who you are, and putting the right things in front of you," Angelides said. "It's an expectation and the sports media and gaming industry, while they recognize the need for that type of experience, they struggle to support that for a variety of reasons. One, because they're extremely thinly spread technologically because they're rolling out across states. Number two, they're not technology companies."

Too early for innovation?

 

In May 2018, the U.S. Supreme Court repealed the Professional and Amateur Sports Protection Act, paving the way for the gold rush of online sports betting. Pennsylvania, New Jersey and 21 other states have legalized online sports betting. Pennsylvania sports fans placed more than $6 billion in online wagers in the last year.

Experts believe that the national volume of online sports betting, or the "handle," will grow to $25 billion to $30 billion a year as more states legalize online sports wagering.

Chris Grove, a co-founding partner at Acies Investments, a venture fund for sports, gambling and technology start-ups in Las Vegas, called Epoxy's founders "very talented."

Comcast buys OneTwoSee sports info service

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