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A major advantage for traditional sportsbook operators is their ability to aggressively fund customer acquisition and retention bonuses. As EKG points out, prediction markets have “less ability to be generous with bonuses” because users trade against one another rather than against the house.

That creates a stark contrast during peak football season when traditional sportsbooks spend heavily on promotions. Offers ranging from $350 to $365 from major operators make the $25 to $50 promotional matches typically seen on prediction markets appear modest by comparison.

“That said, channel checks indicate prediction markets are spending heavily on digital marketing, including app stores and pay-per-click advertising, which could make our forecast look conservative by the end of the season,” EKG concluded.

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“The priority is to prove the model properly; make sure the games perform and demonstrate that it works commercially.”

The proposition is already being tested commercially. Live casino supplier Eeze has become the first supplier to utilise Studio in a Box as it looks to expand its proprietary content into slots. Using Yggdrasil’s framework also gives Eeze access to its wider distribution network.

The first games are expected towards the end of the year, with the partnership ultimately targeting a release cadence of two games per month. For Curwen, Eeze demonstrates the demand among established gaming businesses for greater ownership of their content strategy without the cost and complexity of creating a conventional development operation.

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As the case rumbles through court, a key piece of evidence, meant to support Evolution’s defence was a report carried out by specialist gaming advisors Spectrum Gaming Capital. It analysed Evolution’s operations and was meant to counter the damning Black Cube report.

However, until very recently the report was kept confidential by Evolution, as it contained commercially sensitive material, the supplier said.

But this week the 2022 report was released in full by the court. Playtech, for its part, has celebrated a number of findings in the document, which it says supports and corroborates findings from Black Cube.