Same Game Parlays (SGPs) allow bettors to combine multiple outcomes within a single match, offering lottery-style payout potential. For operators, they solve a critical problem: rising costs squeeze margins on traditional betting, but SGPs routinely deliver margins above 20%. The appeal to bettors and structural margin advantage have made them the most important product innovation in modern sports betting.
October 2025 Fund Update
September 2025 Fund Update
This month we examine Japan's wagering paradox: how the world's third-largest economy became one of the world's largest sources of unregulated betting revenue, why generational change makes the status quo unsustainable, and where the opportunity lies for those positioned to help Japan modernise its wagering market.
August 2025 Fund Update
July 2025 Fund Update
June 2025 Fund Update
May 2025 Fund Update
April 2025 Fund Update
March 2025 Fund Update
January 1, 2025, marked a watershed moment for Brazil’s betting industry. After years of operating in a grey market dominated by offshore operators and loosely regulated local outfits, the country now has a clear regulatory framework which has a zero-tolerance approach to unlicensed betting. Far from a routine policy update, Brazil is poised to become one of the largest regulated betting economies, with revenues forecast to reach $6.3 billion by 2038.
February 2025 Fund Update
Kalshi's groundbreaking regulatory approval has positioned it as the first legal event contract exchange in the U.S., allowing nationwide betting while bypassing state restrictions. With backing from Charles Schwab and Susquehanna, it's poised to reshape the wagering landscape across elections, sports, and beyond.






