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Sports Wagering Falls Short in GA

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ATLANTA – Georgia remained one of 12 states not to have some form of sports wagering when the state’s Rules Committee declined to consider two bills this week.

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The state’s House Higher Education Committee moved forward two amended sports betting bills on Thursday, one a state constitutional amendment and the other that would have enabled legislation, according to iGamingBusiness. But those bills never made it to the House.

This week’s action becomes the fourth time Georgia lawmakers considered legalizing sports wagering since 2021 without ultimately getting two-third approval in both the state House and Senate.

Georgia’s proposed constitutional amendment, named SR 579, was recently been amended to include up to $22.5 million to promote responsible gambling through tax revenue.

While Georgia appeared the closest to becoming the next state to legalize sports wagering, efforts continue in Minnesota, where multiple bills have been introduced. Missouri is moving toward placing a sports wagering on the November ballot.

Legal sports wagering in North Carolina began on March 11, in advance of NCAA conference basketball tournaments and the current NCAA Tournament, with a reported $200 wagered over the first week it was legal.

Boston-Based Rithmm Raises $2 Million

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BOSTON – (Staff Report from Official News Release) –  Rithmm, Inc., a Boston-based start-up specializing in AI-driven sports betting technology, closed on a $2 million seed funding round.

The funding round was led by prominent investors, including Boston Seed Capital, Counterview Capital, Oyster Ventures, Correlation Ventures, Service Provider Capital, and Permit Ventures. This significant capital infusion will propel the company’s expansion and enable the launch of its NFL product, while further enhancing the platform’s capabilities and empowering sports bettors worldwide.

Rithmm developed an innovative sports betting platform that leverages the power of advanced analytics with an intuitive user interface, enabling sports bettors to build custom analytical models easily and use them to make smarter and more informed betting decisions.

The platform eliminates the complexity and barriers associated with traditional sports betting analytics, making it accessible to users of all skill levels.

“This timely infusion of capital will play a pivotal role in propelling our technology forward, enabling us to broaden our reach with an eagerly awaited NFL product and providing our users with an unparalleled sports betting experience,” said Megan Lanham, CEO of Rithmm.

“We believe that Rithmm is poised to disrupt the industry by providing users with advanced analytics and insights previously reserved for professional sports bettors,” said Peter Blacklow, Managing Director at Boston Seed Capital. “Their AI-driven platform has the potential to level the playing field and transform the way sports bettors approach strategy. We are thrilled to support Rithmm in their mission to redefine the sports betting experience.”