Schefter's Early Underdog Bet Pays Off in Reported $2.15B Sale

ESPN NFL insider Adam Schefter is positioned to profit from his early investment in Underdog, a sports betting company reportedly nearing a sale valued at up to $2.15 billion.

Schefter first invested in the company in 2021, according to public confirmations. Other high-profile names backed Underdog that same year, including Mark Cuban, Kevin Durant and Jared Goff.

Underdog launched as a daily fantasy brand before expanding into a content network. Front Office Sports confirmed Schefter's investment in October 2021, after the company had reached a reported $1.3 billion valuation.

The reported sale figure of up to $2.15 billion represents substantial growth from that earlier benchmark.

Schefter's stake has drawn scrutiny over journalistic ethics. An NFL reporter holding a financial interest in a sports betting company creates a potential conflict of interest. Transparency is a central factor in maintaining credibility with an audience.

ESPN NFL insider Adam Schefter is positioned to profit from his early investment in Underdog, a sports betting company reportedly nearing a sale valued at up to $2.15 billion.

Schefter first invested in the company in 2021, according to public confirmations. Other high-profile names backed Underdog that same year, including Mark Cuban, Kevin Durant and Jared Goff.

The reported sale figure of up to $2.15 billion represents substantial growth from that earlier benchmark.