Post-PASPA Convergence

The **Post-PASPA Convergence** (2018–Present) marks the era following the Supreme Court's repeal of the federal sports betting ban, characterized by the rapid merger of sports leagues, media conglomerates, and betting operators into a unified commercial ecosystem. Key drivers of this era include: * **Regulatory Fragmentation:** A state-by-state rollout creating a complex patchwork of tax rates (ranging from <7% to 51%) and access requirements, favoring large-scale operators. * **Market Consolidation:** The emergence of a **FanDuel/DraftKings duopoly**, driven by high customer acquisition costs that priced out smaller competitors. * **Media & League Integration:** A complete reversal of stance by the NFL, NBA, and MLB, who transitioned from opposing legalization to monetizing **Official League Data** and selling sponsorship rights. Simultaneously, major media brands (ESPN, Fox) integrated betting products directly into broadcasts. * **Product Innovation:** A shift toward high-margin **Same Game Parlays (SGPs)** and algorithmic **micro-betting**, designed to maximize revenue from casual fans rather than professional sharps.