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Pro League Network raised $2.2 million to bring gambling to obscure sports like CarJitsu and slapfighting. Read its 20-page pitch deck.

Ashley Rodriguez and

Tiara White

2024-05-27T12:00:01Z

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An image from Pro League Network's CarJitsu shows two men fighting in a car. — Pro League Network developed CarJitsu among other niche sports.

Pro League Network

Pro League Network has raised $2.2 million to operate “made-for-wagering” sports.
Its properties include CarJitsu, slapfighting, and a 3×3 pro streetball league with Kevin Garnett.
The startup shared the interactive pitch deck that won over investors like KG and Roger Ehrenberg.

Pro League Network has raised $2.2 million to commercialize niche sports like slapfighting, CarJitsu, and streetball, and allow people to bet on them.

The startup, founded in 2022 by Mike Salvaris and Bill Yucatonis, runs and produces the sports out of its Missouri studio, streams them on social media and other platforms, and regulates them for gambling. Major sportsbooks including DraftKings and Bet365 have carried PLN’s properties in states and markets where they’re approved for wagering.

The company said it looks for sports that can “pop” with fans on social media, as well as properties that are easy to pick up on so that a casual viewer can feel comfortable placing a bet after watching for a few minutes.

The startup aims to fill gaps in the sports-wagering calendar when there are no or few other live professional sports for people to bet on.

“We’re solving a problem,” Yucatonis told Business Insider. “We’re targeting times a day and days a week that we know are a blemish for operators.”

PLN’s investors include Roger Ehrenberg, who led the company’s first seed round that closed last year, as well as Chris Grove, Kevin Garnett, and several angel investors.

The company said it has about 700,000 followers across social media and garners 10 million organic impressions a week.

“We’re an entertainment company making made-for-wagering content,” Salvaris said.

For the next 12 months, PLN is focused on building out four of its properties, including CarJitsu, the World Putting League for professional mini golf, SlapFight Championship, and Str33t, a professional 3×3 basketball league that’s a joint venture with Garnett’s Big Ticket Sports.

As part of that, the company plans to expand production by opening another studio on the East Coast. It currently produces about two to four hours of live content a week.

Selling a ‘network’ approach to alternative sports

PLN owns the properties it operates, which its cofounders said helped attract investors.

“The portfolio appeals to them because they’re placing a bet on different properties,” Salvaris said. “If one does hit, there’s equity in those leagues … It’s a one-to-many bet when you’re investing with PLN.”

But the cofounders also said it was challenging to explain to investors that the company wasn’t pitching another alternative league or the next pickleball.

“We had to get our messaging right,” Yucatonis said. “We had to shine a light on the network approach.”

They also had to convince investors they had the credibility and experience to actually get these sports regulated for gambling. “Early on, investors were like, who the hell is going to approve this?” Yucatonis said.

The SlapFight Championship was the first sport in PLN’s portfolio approved for betting, and it’s been regulated in several markets. That was the “holy shit” moment where the company realized it could do this, Salvaris said.

PLN shared the interactive, 20-slide pitch deck it used to raise funding. It removed some details from the version published below, including a breakdown of its funding, how it would use the funds, and its unit economics. Business Insider has viewed the full version.

Introducing Pro League Network

The company started the pitch deck with a video showcasing images of its sports, including mini golf and more.

The cofounders said they used video throughout the presentation to help investors connect with and feel the energy of the sports.

What is Pro League Network?

The next slide includes a video that describes and features clips of the different sports available on the network, such as CarJitsu, SlapFight Championship, World Putting League, World FootGolf Tour, and more.

The slide also says PLN produces live betting entertainment for fans and casual gamblers.

PLN is at the vortex of 3 trends

The company says it is at the center of three major trends: digital distribution, creators driving sports discovery and engagement, and sports wagering.

PLN breaks down its total addressable market

The slide says Pro League Network’s total addressable market is growing and worth $30 billion, citing stats from Goldman Sachs, Eilers & Krejcik Gaming, Statista, and more. That includes the markets for alternative sports rights, affiliate marketing, sports-betting revenue known as “gross gaming revenue,” sponsorships, and creator sports content.

PLN’s business model is based on owning and developing sports IP

PLN says it’s developed 14 leagues and counting, such as “Beast Ball” and CarJitsu.

Its business model includes owning and developing those sports properties, operating them from production to licensing to building out the framework to get them approved for betting, and then monetizing them through sports betting, sponsorships, affiliate deals, and content and advertising.

PLN says it’s proven the concept works

The network describes its achievements in the last 20 months, including creating or acquiring 14 sports leagues, producing over 90 hours of live sports, receiving 24 State Commission approvals, and being covered by six sportsbooks.

PLN has a partnership with Brinx.TV

The network says its partnership with Brinx.TV includes live events and content for its program, ‘The NIL House.”

Who is watching PLN?

In this slide, the network presented the average time viewers spent watching its network and the click-through rate, though it redacted those details from the version published here.

PLN says its audience is ‘socially engaged’

It touts an estimated 10 million social impressions a week and more than 700,000 followers.

Where PLN is distributed

PLN said it has been distributed on media platforms such as Playermaker, SportsGrid, Brinx.TV, and Caffeine TV. The network has also worked with sports-betting companies such as DraftKings, Betway, Bet365, BetFred, and more.

PLN has a studio in Missouri and plans to open a second soon

The network said it opened its first studio in Branson, Missouri. The studio houses its content lab and live combat-sports studio.

PLN told BI it plans to open another studio soon to produce more content including mini golf.

Kevin Garnett and 3 on 3 basketball league.

PLN has announced a joint venture with Garnett’s Big Ticket Sports for a three-on-three basketball league called Str33t.

In this slide, a video shows Garnett describing the new league and athletes playing streetball.

PLN highlights its competitors

The network describes for investors its competitor set and why it’s content is more engaging to watch. It redacted these details from the version published by BI.

PLN’s return on investment

The company’s investor pitch also broke down its return-on-investment targets per content hour, including sponsorship, wagering, affiliate, and media rights.

The cofounders told BI that it keeps production costs low, aiming for roughly $3,000 to $5,000 per hour, including the cost of paying the athletes.

PLN describes its 12-month plan

PLN’s pitch also explained its 12-month plan on how the network plans to use its funds and what it plans to target.

The network is focused on building its four popular sports in the upcoming months: CarJitsu, World Putting League, SlapFight Championship, and Str33t.

The pitch deck showcases its founders

PLN’s founders are Bill Yucatonis and Mike Salvaris. The slide includes a quote from each founder as well as a podcast and a news clip featuring both Yucatonis and Salvaris.

PLN highlights top news outlets it’s been featured in

The network has appeared in news outlets such as CBS, GoldDigest, New York Post, and Sportico.

PLN’s investors and advisors

PLN highlights its team of investors and advisors including venture-capital firm Eberg Capital, NBA All-Star Garnett, host John Brenkus, and US sports-betting expert and investor Chris Grove.

PLN pitches its funding round to potential investors

The slide says the network is seeking to raise funds.

The end

The pitch deck closes with PLN’s contact information, including how to get in touch with its founders.

Daily News

Pro League Network raised $2.2 million to bring gambling to obscure sports like CarJitsu and slapfighting. Read its 20-page pitch deck.

Pro League Network raised $2.2 million to bring gambling to obscure sports like CarJitsu and slapfighting. Read its 20-page pitch deck.

Selling a ‘network’ approach to alternative sports

Introducing Pro League Network

What is Pro League Network?

PLN is at the vortex of 3 trends

PLN breaks down its total addressable market

PLN’s business model is based on owning and developing sports IP

PLN says it’s proven the concept works

PLN has a partnership with Brinx.TV

Who is watching PLN?

PLN says its audience is ‘socially engaged’

Where PLN is distributed

PLN has a studio in Missouri and plans to open a second soon

Kevin Garnett and 3 on 3 basketball league.

PLN highlights its competitors

PLN’s return on investment

PLN describes its 12-month plan

The pitch deck showcases its founders

PLN highlights top news outlets it’s been featured in

PLN’s investors and advisors

PLN pitches its funding round to potential investors

The end

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