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Intangible Assets and Goodwill (Tables) | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets and Goodwill | The table below summarizes the Company’s intangible assets at June 30, 2022 and December 31, 2021 (in thousands):
| Useful Life (Years) |  | Weighted Average Remaining Life (Years) |  | June 30, 2022
|  | Intangible Assets |  | Accumulated Amortization |  | Net Balance
Customer relationships | 2 |  | 1.2 |  | $ | 32,280 |  |  | $ | (26,187) |  |  | $ | 6,093 |
Trade names | 2 - 9 |  | 6.7 |  | 38,826 |  |  | (9,733) |  |  | 29,093 |
Software and technology | 3 - 9 |  | 6.4 |  | 197,174 |  |  | (47,193) |  |  | 149,981 |
Gaming licenses and market access fees | 2 - 5 |  | 4.1 |  | 15,701 |  |  | (2,184) |  |  | 13,517 |
Total |  |  |  |  | $ | 283,981 |  |  | $ | (85,297) |  |  | $ | 198,684 |
| Useful Lives (Years) |  | Weighted Average Remaining Life (Years) |  | December 31, 2021
|  | Intangible Assets |  | Accumulated Amortization |  | Net Balance
Customer relationships | 2 |  | 2.2 |  | $ | 32,965 |  |  | $ | (21,105) |  |  | $ | 11,860 |
Trade names | 2 - 9 |  | 7.2 |  | 38,876 |  |  | (7,455) |  |  | 31,421 |
Software and technology | 3 - 9 |  | 8.7 |  | 195,852 |  |  | (35,572) |  |  | 160,280 |
Gaming licenses and market access fees | 2 - 5 |  | 4.8 |  | 14,951 |  |  | $ | (326) |  |  | $ | 14,625 |
Total |  |  |  |  | $ | 282,644 |  |  | $ | (64,458) |  |  | $ | 218,186 |
Finite-lived Intangible Assets Amortization Expense | The estimated future amortization expense associated with intangible assets, net is as follows (in thousands):
Year ended December 31, | Future Amortization
2022 | $ | 23,859 |
2023 | 33,919 |
2024 | 30,522 |
2025 | 27,731 |
2026 | 27,259 |
Thereafter | 55,394 |
Total | $ | 198,684 |
Schedule of Goodwill | The following table is a summary of the changes to goodwill for the six months ended June 30, 2022 (in thousands):
| Streaming |  | Wagering |  | Total
Balance - December 31, 2021 | $ | 619,587 |  |  | $ | 10,682 |  |  | $ | 630,269 |
Molotov purchase accounting adjustment | (497) |  |  | — |  |  | (497) |
Impairment | — |  |  | (10,682) |  |  | $ | (10,682) |
Foreign currency translation adjustment | (2,813) |  |  | — |  |  | $ | (2,813) |
Balance - June 30, 2022 | $ | 616,277 |  |  | $ | — |  |  | $ | 616,277 |
Fair Value Measurement Inputs and Valuation Techniques | The income-based approach also takes into account the future growth and profitability expectations. Significant inputs into the valuation models included the control premium, discount rate, and revenue market multiples as follows:
| Streaming |  | Wagering
Control premium | 30.0% |  | 30.0%
Discount rate | 27.0% |  | 19.5%
Revenue multiples | 0.4x to 0.7x |  | 0.4x to 0.7x

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