Sports gambling needs guardrails, Jonathan D. Cohen says
Brendan Ruberry: How has the status quo on sports betting changed since the Murphy v. NCAA Supreme Court decision? Jonathan D. Cohen: Until May 14, 2018, there was no prospect of any state legalizing sports betting, and now 38 states and Washington, DC have legal sports gambling. [Among those states,] 30 allow you to gamble […]
Brendan Ruberry: How has the status quo on sports betting changed since the Murphy v. NCAA Supreme Court decision?
Jonathan D. Cohen: Until May 14, 2018, there was no prospect of any state legalizing sports betting, and now 38 states and Washington, DC have legal sports gambling. [Among those states,] 30 allow you to gamble on any device with internet access. And that has, over the last seven years, birthed a $120 billion per year market. Before, if you wanted to bet on sports, you had to do it in Vegas, or you could do it illegally. And now you can, in most states, do it from the touch of your phone.
Ironically, we are currently building the setup that is being taken down in other countries, because other countries are now seeing all the problems that result from online gambling, and they are pulling back and adding regulations. And we’re rushing headlong into the deregulated space that they are vacating as quickly as possible.
Who is Kyle and why is his story central to the state of play in the industry right now?
Kyle is illustrative as a 26-year-old white man, which speaks to the demographics of sports betting. But he’s also illustrative in that he was someone who had gambled before it became legal first in Colorado and then in Kansas, where he lives. But he had never run into trouble, had always sort of gambled within his means when he was at a casino or when he had been placed a few bets on sports in college. And it was only because of its online availability that he gambled above his means and couldn’t pay his rent for one month, that he lost his job, that he found himself up at three in the morning betting on minor league British darts, that he had to call the Colorado Problem Gambling hotline, that he moved back in with his parents because he ran out of money. Now, every time there’s a major tennis tournament, he just disappears for 40 consecutive hours gambling on sports. Not that every single person who’s gambling on sports is having experiences like his, but he’s the kind of person who never would have run into trouble gambling, but for the fact that it appeared one day on his phone and without guardrails to stop him from running into trouble.
He might not be the typical gambler, as we see it, but he is typical of how these companies make their money.
Yes, the business model basically writes off 60%-plus of players. At least 60% of NFL bettors account for a total of 1% of sportsbook revenue, and as much as 80% of revenue for these companies comes from a core group of 3% of gamblers. There’s lots of products like this, where a small group of people account for a huge share of profits. But fundamentally, it’s not an accident that someone like Kyle loses too much money. It is sort of baked into the way these companies operate, that there are going to be a small subset of people from whom they can extract a lot of money and a large share of their revenue.
You profile Colorado in particular. What’s illustrative about how Colorado approached legalizing sports gambling?
So after the Murphy decision, it wasn’t inevitable that we’d have so many states go all in so quickly, right? It wasn’t organic. It was in Colorado, DraftKings and FanDuel in particular [were] showing up, helping to write the legislation to govern gambling once that passed, helping to basically astroturf the ballot referendum that passed sports betting. And then sitting in the room with the regulators, helping them craft the regulations that would govern the sports folks’ own behavior. So not only would sports betting not have passed as quickly were it not for the companies’ political involvement, but the all the harms and issues that we have from sports betting now are, in part, resultant of the fact that the foxes were inside the hen house, playing with all the hens while the regulations were being developed.
You say at one point that these are more like tech companies than traditional sportsbooks or casinos.
This is a huge branding operation with a seamlessly designed app. What they have to offer is all this specialized software under the hood that lets them, at every second of every baseball game, change the odds of whether the next pitch is going to be 88 miles an hour, so that you can bet on that. They can have the most efficient line possible developed in a fraction of a second. And the other way they’re like tech companies is mimicking all the addictive and troublesome aspects of social media apps, for example, just like the endless scroll and the endless short options for dopamine hits. And the seamless app interfaces they’ve learned at the feet of these other borderline addictive companies and products, and they are now to offer an actual addictive product, of gambling.
And I would assume, like other tech companies, they deal in data, and data is sort of their critical resource. What do we know about how much data these companies have and how they’re using it?
This is what’s most frustrating to me, as someone who wants to advocate for a change: These companies have more data on gamblers than any gambling operation in recorded human history, right? Vegas casinos of the 1950s would kill for the kind of information that DraftKings and FanDuel have. And there’s a really revealing video from a Fanatics executive who talks about how easy it is for them to spot problem gambling. They have all this data on player behavior. The question is how they’re using it. It seems like they’re using it to identify problem gamblers and make money from them; or identify losers and make money from them, rather than cut off people who have obvious gambling problems and stop them from gambling. This is anecdotal, they claim that it’s all trade secrets, and they won’t give up any of their data. But again, like a tech company rather than a sportsbook, it is their primary resource. Whenever you sign into the app, and you see a customized parlay, that’s like, ‘wow, that looks perfect for me’ — no sh*t, it is perfect for you. They built it for you. And because they know what teams you like, and they know what you like to bet on.
The fear [with AI is] that they can get even better at these sorts of micro transactions, at the fast betting, and then they can super-customize it to make it even more enticing than it already is. Good luck to all of us.
There’s an observation in the book about how professional gamblers are trying to circumvent some of these pattern-recognition abilities that these companies have. Could you talk about that?
I’m drawing on the work of a professional gambler I talked to named Isaac Rose-Berman, who, from his own conversations with professional gamblers, basically realized that the apps don’t want to shut off losers. They don’t want to shut off anyone who’s bad at betting, and they really don’t want to shut off anyone who’s going to lose a lot of money. So the longer that professional gamblers can make the apps think that they are just a stupid, lucky bettor on a hot streak, the better chance they have of betting for longer and making money before they finally get caught. So Isaac has described betting on Aaron Judge to hit a home run — which is like the most vanilla bet you can possibly make — so that he looks like a normie, so he doesn’t look like a professional bettor. Because, again, they don’t want professional bettors on their apps, but they do want losers, and they do want the kind of people who place a bet on Aaron Judge to hit a home run. (No offense to Yankees fans — well, some offense to Yankees fans.) On the one hand, professional gamblers are [a small percentage] of the bettors. But on the other hand, the fact that they get cut off so quickly and so aggressively, to me, reveals that this whole thing is a house of cards; that they only actually want you if you’re a loser. And that second that you can make money, the second that you’re better than them, they stop you from doing it. So on the one hand, who cares? It’s a small, small group of people. But I think it’s really revealing of the fundamental issues behind the whole enterprise.
Tell me a little bit about the responsible gambling framework as it exists, and how you find fault with that.
There’s a lot of comparisons made of the gambling industry to tobacco and alcohol. A difference in this case is that the gambling industry doesn’t deny that problem gambling exists in the way that the tobacco industry denied any connection between lung cancer and cigarettes. But what they’re doing instead is this campaign for what they call ‘responsible gaming,’ or ‘responsible gambling,’ putting the onus of play on the individual in an attempt to ward off intrusive regulation or the need for guardrails. What they say is, ‘please play responsibly.’ They tell players to play responsibly, to call the hotline, while, of course, not actually providing any structure by which it would be easier for someone to play responsibly. They don’t stop anyone from betting three mortgage payments over the course of 35 seconds, if that is how they choose to play. Because what is responsible? Responsible is in the eye of the beholder. So responsible gaming is, in many ways, a beard for the industry. And the way that they can say, ‘oh, if someone runs into trouble on our app, it’s because they were gaming irresponsibly, and it’s their fault. We provided tools, this player didn’t take advantage of them. We would have cut them off if they had set a deposit limit or a time limit.’ But someone who’s addicted to gambling or has trouble gambling, they’re not going to set a deposit limit or do any of that. At some point, people who are addicted to gambling are not choosing to gamble.
The responsible gaming model is like, ‘hey, there’s a river over there. Don’t fall in.’ Whereas the public health model would be like, ‘hey, let’s build a fence around the river to stop people from falling in in the first place.’ And so my vision for a safer sports betting setup would have basically a bunch of speed bumps on the hill to stop people from rolling down and collecting steam and sort of developing an addiction and developing unsafe practices. If I were going to summarize it in a single word, it would be ‘friction’: If you deposit money, you can’t gamble with it for 12 to 24 hours. If you lose, and you are chasing your losses, then you can’t place another deposit. You can only place a certain number of deposits in the span of a day or a few days — anything to slow down the process.
I don’t want to make it so that it’s impossible for someone to place an innocent bet and augment their sports viewing experience. But I do want to make it impossible, or almost impossible, that someone placing an innocent $5 bet for fun can be the start of a dangerous journey that leads them into addiction or other kinds of harm.
Why should FanDuel, DraftKings, BetMGM, Fanatics, or whomever care about someone falling into the river, if the river is where all the profits are?
You can shear a sheep many times, but you can only slaughter it once. And so the market, the competition, is so fierce right now among the firms that there’s this perception that there’s always more efficiency. That we can always just find more bettors, especially when Texas, California, Minnesota, Georgia, and other states legalize sports betting, which they probably will at some point — not to mention the fact that if one of those companies were to cut you off from gambling, you can just run to a competitor. There’s no collaboration in place right now between the companies to remove the incentive to slaughter every sheep that shows up at their door. But that would be the long-term incentive. Yes, you’re making money right now, but in what I would call a fundamentally extractive business model, where at some point you’re going to run out of gamblers. Or at some point, the political winds are going to turn against you because of your irresponsible behavior, and over the long term, it’s not going to be a good look, and it’s not going to work. And I know it’s not going to be as profitable, but you should want a sustainable business model where people don’t tap out of sports betting because they keep having bad experiences And they become sort of long-term casual players who won’t lose that much money, but they’ll lose enough to keep your lights on.
I don’t know why any state needs to offer a market on Malaysian women’s doubles badminton. Those markets are basically just a trap door for gamblers who are looking for something to bet on at three in the morning, and that’s the only thing that’s available on the app — so in addition to [that], changing some of the ways people can interact with the app, fundamentally look at the app interface and design and remove some of the more sort of lizard brain, addictive, dopamine-providing aspects of the apps themselves.
After selling transparency, new AI grading company is shrouded in mystery
A new card grading company emerged earlier this month with promises to provide cheap and transparent grading using artificial intelligence and machine-learning technology. But two weeks after its launch, Zeagley Grading Services has already halted submissions, aired public spats on its website and avoided providing any substantial insight into its grading process or ownership structure. […]
A new card grading company emerged earlier this month with promises to provide cheap and transparent grading using artificial intelligence and machine-learning technology.
But two weeks after its launch, Zeagley Grading Services has already halted submissions, aired public spats on its website and avoided providing any substantial insight into its grading process or ownership structure.
Less than 40 minutes after ending a call with cllct Tuesday, the company’s website had disappeared. It returned Thursday with only the popular gif of former professional wrestler The Undertaker rising from a coffin, floating against a background image of Freddie Freeman’s walk-off grand slam from Game 1 of the 2024 World Series.
After briefly disappearing, Zeagley’s website returned with a gif of The Undertaker and image of Freddie Freeman.
On Friday, Zeagley’s website had been updated to show a photoshopped variation of the Freeman image with a countdown clock ending July 29. The National Sports Collectors Convention in Chicago takes place July 30 to Aug. 3.
Zeagley made a quiet debut via press release June 13, saying its team of former Amazon, Google and Meta engineers could deliver the “next-generation sports card grading platform powered entirely by artificial intelligence and machine learning.”
Zeagley said it would have a booth at Fanatics Fest 2025 in New York to demonstrate its technology firsthand by grading cards “in less than one second.”
The company has “already attracted early attention from major names, including DraftKings,” the release said.
In the days following its launch, Zeagley faced scrutiny from hobbyists, with many calling for additional transparency into its grading process and the company founders.
The first public hurdle for Zeagley came June 17 when the company said it had received a cease-and-desist letter from Collectors, the parent company of grading giant PSA.
The letter, portions of which were obtained by cllct and also posted to Zeagley’s website, demanded Zeagley halt use of its label, which Collectors claimed violated PSA’s trademark and trade dress. In the letter, Collectors also requested Zeagley destroy any remaining stock of labels.
After this story originally published Friday, PSA confirmed it did send the cease-and-desist letter.
Following the alleged cease-and-desist request, cllct attempted to discover who was behind the launch of Zeagley and learn what makes the company different from the industry’s current offerings.
On June 18, cllct was provided with a Google Voice number to schedule an interview with a member of the company. Rather than speak with a founding member, cllct would be connected with a spokesperson it was told it could refer to as “Ace.”
Cllct spoke with “Ace” on June 19 for 75 minutes.
During the call, “Ace” provided a basic overview of the company’s AI and machine-learning technology that it uses to grade cards.
Zeagley’s website currently features a countdown clock to July 19.
“We don’t want to give too much away, but at a high level, we’re getting thousands of data points on every card,” the spokesperson told cllct. “And from that, our software can do anything. It’s not just cards, we’ve scraped everything from the web.”
According to “Ace,” Zeagley initially began to form roughly two years ago from a group of card collectors with engineering backgrounds. Public records show Zeagley LLC was officially formed March 17, 2025.
“Ace” told cllct the company had analyzed more than 1,000 cards over the last year that had been graded by other companies to test for accuracy and consistency. He said Zeagley believed 80% of those cards were graded incorrectly.
“Over the last year, I would say we’ve graded cards at several different companies and the data we have, if we were to release it — we would be sued into oblivion,” “Ace” said. “So it’s shocking what we found.”
Additional details provided for the grading process were vague.
According to “Ace,” the label was made using AI, and Zeagley was adamant for it to have a QR code on the front. The company would be working with a graphic designer to create a new label. Whether it would be a standard label or have custom designs was still being researched.
The grading process itself is extremely simple, with human hands still being used to place cards before and after scanning. Little insight was given into the holdering process.
“It’s pretty much all automated,” the spokesperson said. “We don’t really have to tell it to start to scan. We don’t really have to tell any of the hardware to turn on. We don’t have to tell the software to run. We pretty much place the card and pick the card back up.”
According to “Ace,” the company doesn’t employ any former graders, but its members do have card backgrounds. When asked what safety nets or processes are in place to correct mistakes or improve the software, “Ace” said Zeagley hadn’t run into any issues.
“That’s kind of all baked into the system’ right? Not to get too technical, but you basically are looking at sort of an ‘if-else,’” they said. “If the condition is ‘true,’ do this, else do that. So that’s all sort of baked into the software. There’s logging, and we get errors if the software has issues, but ultimately our [quality assurance] has been going on for over a year. We haven’t had a problem at all.”
The June 13 press release said Zeagley would disrupt the collectibles market.
“Ace” then explained the proposed software to cllct further.
“Think of the model as a human. The model is continuously learning. The model is not done. The model is always learning,” they said. “The model knows more than any human on this planet ever will.
“The model knows more than just sports cards. The model has crawled all over the web, and we’ve trained it for probably over a year on exactly how we want the model to behave and fine-tuned to the point that we think we’re ready.”
When questioned by cllct about his role with the company a second time, “Ace” said he was acting as Zeagley’s CEO in addition to its spokesperson.
When asked about the company’s use of PSA’s trademark, “Ace” told cllct Zeagley would likely comply with the cease-and-desist. He also denied claims made by individual hobbyists on social media that the entire holder pictured — not just the label — was a visually-altered PSA slab.
During cllct’s call June 19, Zeagley posted an update to its website saying submissions would be paused, and the company would no longer be demonstrating its service at Fanatics Fest. “Ace” said the company had received about 1,000 orders prior to pausing service and those customers would be refunded.
It’s currently unclear if any cards were mailed to Zeagley for grading.
With Zeagley’s technology still largely unclear, cllct made repeated attempts to learn about the company infrastructure, its founders and funding.
The company was largely made up of engineers who were impacted by tech layoffs, “Ace” told cllct. Who these engineers were, exactly, he wouldn’t say. Zeagley was operating “pretty lean” at the moment, but had between 50 and 100 paid employees, he said.
“Ace” wouldn’t offer up additional details on the founders. Cllct agreed not to publish names of individuals if it could independently confirm the engineers had the background Zeagley claimed they did.
Cllct’s requests were repeatedly declined
Zeagley offered little insight into the company’s funding.
“The long and short is it’s a little bit of private and a little bit of public money,” they said, “but I think this weekend will change that.”
On June 18, Zeagley’s website featured a prominent “DraftKings” logo next to an advertisement for additional funding. “Want to invest?” the ad read. “Contact us for our next series of funding and join in with our existing partners.”
The advertisement and DraftKings logo were eventually removed from Zeagley’s website during one of the company updates written directly onto the homepage.
A DraftKings spokesperson later told cllct the company has no official relationship with Zeagley.
Additional requests to independently vet engineers and founders of the company were repeatedly declined by “Ace.”
“We’re not in a typical scenario,” he said. “We’re involved with lawyers, and there’s a lot of money at stake. I’m closing dealers tomorrow, and I don’t need the distraction.”
Instead, “Ace” offered to meet cllct in New York during Fanatics Fest from June 20-22. He clarified Zeagley never had a booth booked at the event, but there was intent to set up a “pop-up” tent outside of the venue to demonstrate the company’s ability to take initial scans in “about a millisecond.”
Cllct set a tentative window to meet midday on Friday, June 20.
Early that day, Zeagley’s website confirmed it would comply with PSA’s cease-and-desist request and had halted submissions.
“We complied with the cease and desist — not because we agree, but because we’d rather innovate than fight in court,” the note read. “Our new label is underway, and we’re committed to doing things the Zeagley way: with innovation, not intimidation. At Zeagley, we’re focused on building a grading system that collectors deserve.”
A text message from cllct to the Google Voice number used by “Ace” at 1:38 p.m. ET on June 20 wasn’t returned.
“Sorry got swamped, update on the site now,” read a text message from the Google Voice number used by “Ace” to cllct on June 22 at 9:49 p.m. ET.
The update on Zeagley’s homepage wrote of a meeting with Fanatics Live CEO Nick Bell on Saturday as well as a “total accident” meeting in an elevator with two employees from Mantel, a popular social media website dedicated to cards, collectibles and memorabilia.
“We gave them a quick, on-the-fly demo, and now we’re scheduled to talk again soon,” Zeagley’s update read.
Fanatics declined cllct’s request for confirmation Bell met with Zeagley representatives in any capacity.
A source for Mantel confirmed to cllct two employees ran into a Zeagley representative in an elevator during the event, but an official meeting was never set, and the reported demo of the company’s services were screenshots rather than video.
The source confirmed to cllct Mantel has no relationship with Zeagley. According to a Mantel source, the Zeagley representative introduced himself as “Kyle,” but didn’t provide a last name.
Two addresses are listed in Zeagley’s filings, including one that directs to Northwest Registered Agent. According to Northwest’s website, registered agent services are a way to “keep your sensitive personal data private and out of your company’s public information.”
The second address listed in Zeagley’s filings is a mailing address that directs to a post office in Seattle. “Ace” told cllct Zeagley planned to use that address to pick up cards that were mailed in for grading.
According to a Mantel source, the Google Voice number given to the team by “Kyle” is the same number cllct has used to communicate with “Ace.”
After a text message by cllct to the number provided for “Kyle” and “Ace” wasn’t returned Monday, the employee cllct had previously spoken to agreed to a second interview Tuesday.
When reached by cllct, “Ace” said he had personally shown Mantel employees a demo of Zeagley’s service at the Bleecker Trading booth during Fanatics Fest.
According to “Ace,” the company had been considering all paths forward. Following concerns about trustworthy suppliers that could provide the plastic holders need to grade cards at scale, the company was considering white-labeling its technology.
“Ace” said the meetings so far had largely involved Zeagley’s AI and machine-learning technology rather than its grading services. Zeagley would also be shifting its focus from accepting investments to partnerships.
Additional requests by cllct to confirm identities and backgrounds of founders at the company were repeatedly denied. The person speaking as “Ace” declined cllct’s request to confirm whether “Ace” and “Kyle” were the same employee working for Zeagley.
After originally taking credit for showing Mantel employees a demo in New York, the person speaking as “Ace” claimed he was never at Fanatics Fest, and “Kyle” was a different employee.
“Ace” then denied multiple cllct requests for any additional transparency.
“The people we want to know who we are, know who we are,” they said. ”We don’t care what the public thinks. The public is not writing checks and not doing deals.”
One of cllct’s final questions to “Ace” was whether Zeagley felt customers should know the backgrounds of the founders before sending cards or money to the company.
“We’re not even a grading company anymore,” he said. “Who knows what we are anymore? Maybe we dissolve tomorrow. Like I said, maybe we’re acquired tomorrow, and Zeagley never even existed. I really don’t even know what’s going to happen.”
The second call between cllct and “Ace” on Tuesday lasted 55 minutes and ended at 4:18 p.m. ET.
An attempt to reach Zeagley’s website by cllct at 4:58 p.m. ET that day was met with an error.
By early Thursday, the website, which has a listed owner of Domains By Proxy, LLC, had returned with the Freeman photograph and spinning GIF of The Undertaker.
An online search for “Zeagley” on Thursday listed the company as an online auction marketplace rather than a grading company.
“This online marketplace facilitates secure local auctions for buyers and sellers,” a preview for the company read. “Sellers list items and set a starting bid, while buyers compete to offer the best price. The platform prioritizes speed and convenience, allowing for quick sales and competitive bidding.”
A text message to the Google Voice number previously used by “Ace” and “Kyle” asking for clarity on a possible company pivot wasn’t immediately returned Thursday afternoon.
Ben Burrows is a reporter and editor for cllct, the premier company for collectible culture. He was previously the Collectibles Editor at Sports Illustrated. You can follow him on X and Instagram @benmburrows.
California AG poised to crush billion-dollar fantasy sports industry
Steinberg Sports and Entertainment CEO Leigh Steinberg discusses the escalation of money flowing into college football on ‘Making Money.’ California’s top legal authority is moving forward in a push to rid the state of sweepstakes casino games. Attorney General Rob Bonta will introduce an opinion that would make all online fantasy sports platforms illegal in […]
Steinberg Sports and Entertainment CEO Leigh Steinberg discusses the escalation of money flowing into college football on ‘Making Money.’
California’s top legal authority is moving forward in a push to rid the state of sweepstakes casino games.
Attorney General Rob Bonta will introduce an opinion that would make all online fantasy sports platforms illegal in California, KCRA-TV reported.
The Golden State is not the first U.S. state to propose legislation that would eliminate the support or promotion of online casinos that operate in a sweepstakes-like fashion.
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California Attorney General Rob Bonta speaks to the media after graduation ceremonies for the School of Social Ecology at UC Irvine in Irvine, Calif., June 16, 2025. (Paul Bersebach/MediaNews Group/Orange County Register via Getty Images / Getty Images)
Louisiana and New York have presented proposals on the topic, while Connecticut and Montana have enacted laws that ban online fantasy sports operations.
LEGALIZING SPORTS BETTING IN TEXAS WOULD PAY HUGE DIVIDENDS, STUDY SAYS
The California Nations of Indian Gaming Association and Tribal Alliance of Sovereign Indian Nationals reportedly warned California lawmakers earlier this week about some fantasy sports operators potentially pushing to have their legal status changed in the state.
It remains unclear whether other types of online gaming will be affected as a result of these proposals and laws. In a legal sense, traditional fantasy sports vary from traditional online gaming. Online fantasy sports effectively require participants to play a game of skill, so courts have ruled it is legal.
The DraftKings logo (Pavlo Gonchar/SOPA Images/LightRocket via Getty Images / Getty Images)
Fantasy sports players typically select a team of real-life athletes from the NFL, MLB, NBA, NHL and other professional leagues and receive points based on the statistics of the athletes they picked.
According to KCRA-TV, the California Department of Justice’s opinion will likely be made public before the Fourth of July holiday.
Daily fantasy sports and skill-based sports gaming platform companies Betr, PrizePicks, Underdog Fantasy, Dabble and Splash Sports, make up the Coalition for Fantasy Sports. The group released a statement in response to the news of the anticipated legal opinion.
FanDuel’s logo on a phone (Pavlo Gonchar/SOPA Images/LightRocket via Getty Images / Getty Images)
“We hope the attorney general’s office will consider the views of sports fans across the state before making a decision,” the coalition said in a statement to the station. “Californians have been playing daily fantasy sports games for more than a decade, and it is shocking to think that the state would suddenly take them away.”
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Fantasy sports in California date back to at least the early 2000s. It remains to be seen how the multibillion-dollar industry’s bottom line could be affected if legislation banning online fantasy sports is enacted.
I hope Samsung Galaxy Watch 8’s new Ultra-style squircle design rumor is actually true
Samsung has now set a date for its next Unpacked showcase, which is Wednesday, July 9. As well as some new foldable phones, we’re also expecting the launch of the Samsung Galaxy Watch 8 – and in the run up to the big day, there have been some intriguing leaks around the design of the […]
Samsung has now set a date for its next Unpacked showcase, which is Wednesday, July 9. As well as some new foldable phones, we’re also expecting the launch of the Samsung Galaxy Watch 8 – and in the run up to the big day, there have been some intriguing leaks around the design of the smartwatch.
This will of course be the follow-up to last year’s Samsung Galaxy Watch 7, and it also looks as though we may get a Samsung Galaxy Watch Ultra 2 as well, after the original launched alongside the Galaxy Watch 7 in July 2024 (or perhaps just a new color – the rumors aren’t too clear, as yet).
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The wearable technology market has transformed how consumers interact with devices, blending innovation with everyday life. These advanced gadgets-ranging from smartwatches to fitness trackers-offer real-time data, seamless connectivity, and personalized health insights. Wearable devices are now a core part of the consumer electronics ecosystem, empowering users to monitor their fitness, track vital signs, and stay connected on the move. With constant advancements in sensor technology and miniaturized computing, the adoption of wearables is expected to rise further, bringing convenience and health awareness to millions worldwide.
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Wearable Technology Market Trends
The wearable technology market is evolving rapidly, with trends pushing the industry into new dimensions. One key trend is the growing shift toward health-focused features-wearables now provide not just step counting but advanced metrics like ECG, blood oxygen monitoring, and stress tracking. Another major trend is the rise of smart textiles and body-worn sensors embedded directly into clothing, enabling discreet, continuous monitoring of vital signs without bulky devices. Companies are also increasingly integrating AI to deliver personalized recommendations based on real-time health data, transforming wearables into intelligent health companions. Sustainability is another significant trend, with brands investing in recyclable materials, longer-lasting batteries, and energy-efficient components to appeal to eco-conscious consumers. Additionally, the line between fashion and technology is blurring, as collaborations with lifestyle and luxury brands make wearables more stylish and mainstream. The expansion of IoT ecosystems and 5G connectivity is also shaping the future of wearables, enabling real-time data sharing and enhanced functionality. Together, these trends highlight how wearables are evolving from single-function devices into sophisticated, interconnected tools that redefine wellness, productivity, and lifestyle in the digital age.
Market Opportunities and Challenges
The wearable technology market holds vast opportunities, particularly in healthcare and remote patient monitoring. With the rise of telehealth, wearables can bridge the gap between patients and healthcare providers by offering continuous health data. In fitness and sports, smart apparel and advanced trackers provide real-time performance metrics for enthusiasts and professionals alike. However, the market also faces challenges such as data privacy concerns, high development costs, and battery life limitations. Companies must address these hurdles to maintain consumer trust and ensure long-term adoption across regions and demographics.
Segmentation of the Wearable Technology Market
Breakup by Component
Software
Service
Breakup by Product
Wrist-Wear
Eye-Wear and Head-Wear
Foot-Wear
Neck-Wear
Body-Wear
Others
Breakup by Technology
Computing Technology
Display Technology
Networking Technology
Positioning Technology
Sensor Technology
Others
Breakup by Application
Consumer Electronics
Healthcare
Enterprise and Industrial Application
Others
Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Wearable Technology Market Growth
The growth of the wearable technology market is underpinned by technological advancements and a shift in consumer behavior toward connected health and fitness. Over the last decade, smartwatches and fitness trackers have become integral to daily routines, with users relying on them to track workouts, monitor sleep patterns, and receive health alerts. The pandemic further accelerated this growth by raising awareness of personal health monitoring and remote patient care, driving demand for medical-grade wearable devices. The increasing popularity of home workouts and digital fitness services also boosts the appeal of wearables that sync with apps for a more personalized fitness experience. Enterprise adoption is expanding too-companies are integrating wearable tech for employee safety, workforce tracking, and augmented reality solutions. Innovations like flexible displays, smart fabrics, and embedded sensors are unlocking new product categories, from smart shoes to biometric clothing. As more affordable options hit the market, adoption among middle-income consumers is rising rapidly. Government support for digital health and the growing role of wearables in preventive care contribute to sustained growth. The market’s strong double-digit CAGR reflects how wearables are moving from nice-to-have gadgets to must-have tools in a connected lifestyle.
Wearable Technology Market Forecast
Looking ahead, the future of the wearable technology market is promising, with projections indicating robust expansion. From a volume of 289.89 Million Units in 2024, the market is expected to grow at a CAGR of 17.00% between 2025 and 2034, reaching nearly 1393.45 Million Units by 2034. This forecast is anchored in rising consumer health consciousness and growing trust in digital health tools. As global populations age and chronic diseases become more prevalent, the demand for remote patient monitoring and proactive health tracking will intensify, positioning wearables as essential healthcare extensions. Rapid advancements in AI, miniaturization, and 5G connectivity will enhance device capabilities, allowing for real-time analytics, remote diagnostics, and seamless data sharing with healthcare providers. Emerging markets will also play a key role, as increasing internet access and affordable devices unlock new opportunities. Enterprise applications are forecast to expand too, from industrial safety to logistics and field operations. Moreover, smart textiles and new form factors are expected to diversify product offerings. All these factors suggest that wearable technology will become even more deeply embedded in everyday life, driving strong market growth throughout the next decade.
Competitor Analysis
The wearable technology market is fiercely competitive, with key players driving innovation, expanding product portfolios, and investing heavily in research and development to stay ahead.
Apple Inc.: Industry leader known for its premium smartwatches and health-focused wearable innovations.
Samsung Electronics Co., Ltd.: Offers diverse wearables with advanced health tracking and seamless device integration.
Fitbit, Inc.: Specializes in fitness bands and smartwatches with comprehensive activity and wellness tracking.
Xiaomi Corp: Delivers affordable smart bands and watches with strong market presence in Asia.
Alphabet Inc.: Parent company of Google, innovates wearables with AI and connected tech through Fitbit and Pixel devices.
LG Electronics, Inc.: Develops wearable products with focus on smart glasses and healthcare applications.
Huawei Technologies Co., Ltd.: Provides smartwatches and bands with long battery life and health monitoring.
adidas AG: Focuses on wearable tech for sports and performance tracking through smart apparel.
Google LLC: Expanding wearable ecosystem with AI-driven features and integration with Android devices.
Imagine Marketing Ltd.: Operates the boAt brand, offering affordable smartwatches and audio wearables.
Nike, Inc.: Invests in smart fitness wear and digital sports tracking solutions.
Sony Corporation: Innovates in smart eyewear and wearable audio products for consumers.
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With the new “F1: The Movie” now in theaters, Formula One owner Liberty Media is hoping Brad Pitt’s latest ride will drive greater interest in F1: The Sport, especially for American audiences. And no expense is being spared in pursuit of that goal. The Apple original film follows Pitt as Sonny Hayes, a retired F1 […]
With the new “F1: The Movie” now in theaters, Formula One owner Liberty Media is hoping Brad Pitt’s latest ride will drive greater interest in F1: The Sport, especially for American audiences.
And no expense is being spared in pursuit of that goal.
The Apple original film follows Pitt as Sonny Hayes, a retired F1 driver who jumps back behind the wheel to help out the struggling APX team. With British seven-time world champion Lewis Hamilton as a producer, every aspect of the movie was shot to be as authentic as possible, with Apple reportedly agreeing to spend an eye-watering $200 million on the production. Filmed on real race weekends, with the fictional team set up on the circuits with their own pit garage, hospitality team, and uniforms, the cast and crew had an unprecedented level of access into the upper echelons of one of the most glamorous sports on earth.
But there’s a reason why Liberty Media has its foot fully on the floor: F1’s popularity in the world’s biggest sports market has started to lose some traction, just as it was building speed.
Slipstreaming
Shortly after Netflix’s “Drive to Survive” debuted, F1 viewership in the US exploded, doubling in the two years after 2020, with a quarter of F1 viewers saying they became fans from watching the show, per Nielsen Sports. The close championship fight in 2021, where Max Verstappen claimed his maiden victory in an epic last-race, last-lap overtake, only added more thrill-seekers to the fanbase during the pandemic.
Sherwood News
But with Red Bull’s Verstappen dominating the sport since then, F1’s TV viewership in the US has started to stall, plateauing over the last two years.
That slowdown comes at a critical time for the sport, as Liberty Media’s rights agreement with ESPN expires at the end of this season. Luckily, on-track competition has heated up this year, with new contenders like McLaren’s Oscar Piastri and Lando Norris challenging the dominance of Red Bull. That drama might persuade big players like Netflix, which has been deepening its forays into live sports, and Comcast-owned NBCUniversal to think about bidding for the rights.
Liberty Media clearly thinks it has a premium product on its hands, as The Wall Street Journal reports:
“[Liberty Media] has been shopping a rights package at around $150 million to $180 million a year beginning with the 2026 season, according to people familiar with the matter, though there isn’t an official asking price. That would be up to double what ESPN has been paying recently…”
At that price, it’s not clear how many bidders would be seriously interested — a potential problem for Liberty, which has invested heavily into its US races, and is reliant on media rights deals for roughly one-third of its revenue.
Sherwood News
Box, box, box
For years, F1 was almost a niche sport by some standards, with a passionate and wealthy fanbase mainly centered in Europe under an owner who wasn’t bothered about attracting younger fans who didn’t “buy the articles that our sponsors sell.”
Since Liberty Media took the wheel in 2017, however, ambitions to expand the sport’s appeal have gone full-throttle.
The “Drive to Survive” era brought Charles LeClerc fan edits on TikTok and a deluge of memes, but the series’ popularity also paved the way for a bigger US footprint, with new races in Miami and Las Vegas in 2022 and 2023 — ensuring that the US now hosts more races than any other country. With star-filled grids, American races have injected fresh glamor, celebrity, and, frankly, money into the sport.
Despite its success in the US so far, the opportunity for further growth remains huge.
The NFL brought in nearly 7x more revenue than Formula One last year, despite the motorsport having a staggering 825 million fans around the world. Even NASCAR, F1’s American cousin in the racing world, rakes in some $1.1 billion each year from its media rights deal.
Those sorts of figures are likely why Liberty decided to do things differently on the Las Vegas grand prix. The company splashed out some $500 million to prepare Sin City for the sport and promoted the event itself rather than outsourcing the work — a bet that seems to be broadly working so far. Last year’s race in November brought in a whopping $934 million in revenue for Liberty and, despite attendance slipping slightly from 315,000 in the inaugural year to 306,000, became Las Vegas’ largest annual event, one study found.
While “F1: The Movie” remains a high-stakes bet for the motorsport’s prospects of signing a major media deal, the long-lasting cultural impact could arguably be even more important.
Head over wheels
Since Liberty shifted F1’s rigid social media guidelines after the acquisition, fans have had greater access to the sport’s behind-the-scenes world and buzzy events, evidenced by the recent livestreamed 75th anniversary celebrations. It’s been paying off, too: F1’s official YouTube channel now has 12.6 million subscribers — the bulk of which have been added since the Liberty takeover, per Social Blade data.
Sherwood News
Under Liberty, F1 has started to cement itself as a pop culture phenomenon rather than just a motorsport, with kids picking up Lego and Mattel toy cars and driver figurines; youngsters going to F1 exhibitions and playing branded games; and more high-rolling VIP guests splurging $5,000 and more on a “Paddock Club” experience with tours of the track and pit lanes.
Sponsors are recognizing the shift: one new deal with LVMH alone will bring the company more than $1 billion over the next decade, while tech giants are also jumping in the mix to try and associate themselves with F1’s sleek, high-octane image and new fan base. Indeed, the F1 group generated $634 million in sponsorship revenue for fiscal year 2024, roughly double what it made back when the motorsport was acquired by Liberty in 2017.
Changing gears
With the latest approval of Liberty’s $4.6 billion (€4.3 billion) acquisition of MotoGP owner Dorna, the entertainment juggernaut is now turning its eyes on the motorcycling championship to test out its F1 playbook in the US again. MotoGP has only one American race, in Austin, Texas, just like F1 when Liberty acquired the sport eight years ago. It seems like, as far as the US goes, the company hopes its engine might just be getting started.
CR Fitness Holdings Opens 86th Crunch Fitness Location with State-of-the-Art Facility in Palm Harbor, FL
PALM HARBOR, Fla., June 27, 2025 /PRNewswire/ — CR Fitness Holdings, the nation’s fastest-growing franchisee of Crunch Fitness, is excited to announce its grand opening for their upcoming location, Palm Harbor, FL – its 59th location in the state of Florida. This $5 million state-of-the-art, brand new 55,000-square-foot fitness center is located at 35104 US […]
PALM HARBOR, Fla., June 27, 2025 /PRNewswire/ — CR Fitness Holdings, the nation’s fastest-growing franchisee of Crunch Fitness, is excited to announce its grand opening for their upcoming location, Palm Harbor, FL – its 59th location in the state of Florida.
This $5 million state-of-the-art, brand new 55,000-square-foot fitness center is located at 35104 US Hwy 19 N in Palm Harbor.
Performance Turf area of Crunch Fitness new 3.0 Gym Design
Crunch Palm Harbor is a brand-new 3.0 location with a modern design that will provide a complete, upscale fitness experience with a focus on quality service. The center features top-of-the-line cardio and strength equipment including Olympic squat racks, a group fitness studio, hot studio for yoga and Pilates, pool, Cycle studio, boxing classes, performance turf, dry saunas, HydroMassage®, tanning, and the innovative HIITZone™. Whether you’re a beginner or a seasoned athlete, Crunch Palm Harbor accommodates a variety of fitness goals in a motivating, engaging and welcoming environment for the entire community.
The doors will officially open for workouts this Saturday June 28th at 7am with a grand opening party from 10am-1pm. This celebration will feature a BBQ cook-out, lively party atmosphere, exciting promotions, vendors on site with prizes and giveaways – and most importantly, a look at everything Crunch Fitness has to offer!
Through June 30th, prospective members can go to CrunchPalmHarbor.com and take advantage of the Grand Opening Offer: Join for just $1 with $0 enrollment fees plus get their First Month Free, and save up to $60 annually! With memberships starting at $9.99 per month, there are plenty of options to meet everyone’s fitness goals.
“We’re so excited to bring Crunch Fitness to Palm Harbor and continue expanding in our hometown Tampa area,” said Tony Scrimale, CEO of CR Fitness Holdings. “This new location is an exciting step forward in our mission to offer high-quality, affordable fitness options to communities across the country.”
CR Fitness Holdings, LLC, led by industry veterans Vince Julien, Geoff Dyer, Tony Scrimale, and Jeff Dotson, now operates 86 Crunch Fitness locations across Florida, Texas, Georgia, North Carolina, and Tennessee – with plans to expand into Arizona.
About CR Fitness Holdings, LLC CR Fitness Holdings, LLC is the leading franchisee of Crunch Fitness, and led by a management team with over 150 years of combined experience in the fitness industry. CR Fitness is on track to operate 100 locations nationwide by 2026. The company’s expansion across the U.S. reflects its commitment to providing accessible fitness experiences that combine high-quality equipment, a fun atmosphere, and exceptional value.
About Crunch Fitness Crunch is a gym that believes in making serious exercise fun by fusing fitness and entertainment and pioneering a philosophy of ‘No Judgments.’ Crunch serves a fitness community for all kinds of people with all types of goals, exercising all different ways, working it out at the same place together. Today, we are renowned for creating one-of-a-kind group fitness classes and unique programming for our wildly diverse members. Headquartered in New York City, Crunch serves three million members with over 500 gyms worldwide in 41 states, the District of Columbia, Australia, Canada, Costa Rica, Portugal, Puerto Rico, Spain, and India. Crunch is rapidly expanding across the U.S. and around the globe.
