Sports Betting Startup WinView Raises $12 Million

As reported by the New York Times, sports betting app WinView announced it has raised $12 million in financing from Graham Holdings, the funding group overseen by Donald Graham, the former owner of the Washington Post; Discovery Communications; Ted Leonsis, the owner of the Washington Wizards and the Washington Capitals; and Lion Tree, a boutique investment bank.

WinView is a free mobile app for smartphones that lets users make free bets on sports games as they are happening. It rewards users in real time by giving cash prizes to those who win. Sports leagues whose games are featured in the app thus far include the National Football League, the National Basketball Association, and the major baseball leagues. The service currently has 130,000 users, according to Tom Rogers, the company’s chairman.  

The company said proceeds will be used to add esports and other sports categories to the company’s lineup.