Mobile Gambling Could The Be Next Big Thing

Kevin Fong, managing director of the Mayfield Fund, said that one of his most promising investments is in a company called Sports GG, which has developed a service that allows Chinese consumers to legally bet on sports using their cell phones.

Fong said that Sports GG is up and running for the current FIFA World Cup and has been a big success so far.

Still, one VC said that while the Chinese market obviously is very lucrative, India might actually be a better market to bet on right now.

"I am more interested in India than China," said Aneel Bhusri of Greylock Partners. "People are so focused on China and I am surprised that they are not paying as much attention to India."

Bhusri said the fact that India already has a strong, vibrant technology sector is one reason his firm is investing more heavily there. He added that it's more likely that Indian consumers will act more like consumers in the U.S. and Western Europe, which means that it should be easier for U.S. VC firms to identify businesses that will be successful there.

June 30, 2006
Posted By Bob Hartman
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