Sports betting

DraftKings is in talks to go public via a reverse merger

Daft Kings advertising logo
Photo: Bruce Bennett/Getty Images

DraftKings is in talks to go public via a reverse merger with a blank-check acquisition company called Diamond Eagle, as first reported by Bloomberg and confirmed by Axios.

The state of play: If this sounds familiar, it's because Diamond Eagle's management had a prior blank-check company called Platinum Eagle that kicked tires on FanDuel (which was later acquired by Paddy Power Betfair).

Retired MLB pitcher Michael Schwimer is betting on analytics

Former Phillies pitcher Michael Schwimer
Retired Phillies pitcher Michael Schwimer. Photo: Sarah Glenn/Getty Images

Retired MLB pitcher Michael Schwimer has put together a team of data analysts and machine learning experts to take on the corrupt tout industry (sellers of sports betting picks).

Driving the news: Schwimer's company, Jambos Picks, has raised $23 million and recently launched its paid subscription service that will provide customers with pick recommendations.