In a strategic move to bolster its position in the burgeoning sports betting market, Boston-based startup Rithmm has announced the addition of Paris Smith, the former CEO of Pinnacle Sportsbook, to its advisory board. Smith, who stepped down from her role at Pinnacle in 2023, is known for her extensive expertise in the sports betting industry and is now focusing on advising and investing in emerging sports betting technologies.
About Rithmm: Revolutionizing Sports Betting
Rithmm is not your typical sports betting application. Founded with the vision of leveraging data to empower bettors, Rithmm uses predictive analytics to offer a unique value proposition.
Backed by a syndicate of seasoned investors, including three of the original DraftKings seed investors, Boston Seed Capital, Accomplice, Counterview Capital, and Permit Ventures, Rithmm is well-positioned to innovate and grow in the competitive sports betting landscape.
Paris Smith’s Journey to Rithmm: A Career Marked by Leadership and Innovation
Paris Smith’s appointment as an advisor to Rithmm marks a significant milestone for the company. With over two decades of experience in the sports betting industry, Smith is widely recognized for her visionary leadership at Pinnacle, where she served as CEO until 2023. Under her leadership, Pinnacle became a pioneer in adopting low-margin, high-volume business models, setting new standards in the industry.
Smith’s decision to join Rithmm was driven by the company’s innovative approach to sports betting. “What Rithmm is doing is unlike anything else in the market,” Smith stated. “I was drawn to their unique value proposition as a tool for both novice and sharp bettors alike. I’m excited to lend my expertise, experience, and network to their team as they prepare for a big football season.”
Impact on the Sports Betting Industry: A New Era of Data-Driven Betting
Smith’s addition to Rithmm’s advisory board is not just a win for the company but also a potential game-changer for the sports betting industry as a whole. Her strategic insights and deep understanding of the market are expected to help Rithmm refine its product offerings and expand its user base.
The Power of Predictive Analytics in Sports Betting
Predictive analytics is at the core of Rithmm’s business model, and it represents a significant shift in how sports betting operates.
Rithmm’s CEO and co-founder, Megan Lanham, emphasized the importance of Smith’s role in advancing this mission. “We are thrilled to welcome Paris Smith as an advisor to Rithmm,” Lanham said. “Paris’s unparalleled expertise and visionary leadership in the sports betting industry, honed over her years at Pinnacle Sportsbook, will be invaluable as we continue to innovate and grow.
Investment and Support: A Vote of Confidence in Rithmm’s Vision
The support from high-profile investors, including Boston Seed Capital, Accomplice, Counterview Capital, and Permit Ventures, is a testament to the confidence in Rithmm’s vision and potential. These investors bring not only capital but also a wealth of experience and strategic guidance, which will be instrumental as Rithmm continues to innovate and expand its market presence.
Having three of the original DraftKings seed investors on board further underscores the company’s potential. DraftKings, now a leader in the sports betting and fantasy sports markets, started as a small startup and grew rapidly due to its innovative approach and strong backing. Rithmm appears poised to follow a similar trajectory, with a focus on innovation and a strong team to drive growth.
Rithmm’s Future Plans and Smith’s Role
As Rithmm prepares for a pivotal football season, Smith’s expertise will be crucial in shaping the company’s strategy and ensuring its products resonate with users. Her experience in leading a major sportsbook like Pinnacle will be invaluable in navigating the challenges and opportunities in the sports betting industry.
Rithmm plans to continue refining its predictive analytics technology and expanding its user base. The company aims to provide a comprehensive suite of tools that cater to all types of bettors, from novices looking for guidance to seasoned professionals seeking an edge. With Smith’s guidance, Rithmm is well-positioned to achieve these goals and redefine the sports betting landscape.
Paris Smith’s appointment as an advisor to Rithmm is a significant development for the company and the sports betting industry. Her extensive experience and strategic insights are expected to drive innovation and growth at Rithmm, helping the company solidify its position as a leader in predictive analytics sports betting. With strong backing from prominent investors and a clear vision for the future, Rithmm is poised to make a significant impact in the world of sports betting. As the company continues to evolve and expand its offerings, Smith’s role will be pivotal in ensuring that Rithmm remains at the forefront of innovation, providing value to its users and shaping the future of sports betting.