The Rise of the Esports Betting Industry is Leading to New Opportunities

The Rise of the Esports Betting Industry is Leading to New Opportunities

PR Newswire

NEW YORK, Feb. 3, 2021

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NEW YORK, Feb. 3, 2021 /PRNewswire/ -- Last year saw online betting break into the mainstream in a big way, and nowhere was that more apparent than in the largest growth segment of the sports entertainment industry, esports. As gamblers shift spend away from traditional betting due to the impact of the pandemic on live sports, esports betting is becoming a massive industry that is showing no signs of slowing. In 2020, esports betting websites were expected to rake in an estimated $1.80 billion, a fraction of the $443 billion that the global gambling industry was estimated to be worth in 2020, leaving plenty of room for growth in the esports market. Heading into 2021, the industry is full of developments for companies like Real Luck Group Ltd, "Luckbox" (TSXV:LUCK), FansUnite Entertainment (OTCQB:FUNFF) (CSE:FANS), DraftKings (NASDAQ:DKNG), Golden Nugget Online Gaming (NASDAQ:GNOG), and Skillz (NASDAQ:SKLZ).

Luckbox is Building the Esports Industry's Most Comprehensive Betting Platform

Among the most promising and innovative of the companies stepping up for a new era in sports betting is Real Luck Group Ltd, "Luckbox" (TSXV:LUCK), a fully licensed global esports betting brand, offering legal real-money betting pre-match and mid-game, along with live streams and stats for every match on desktop and mobile. Luckbox was named a Rising Star at the 2020 EGR Operator Awards.

"I think another indication of esports' shift into the mainstream was our EGR Award in November," Luckbox CEO Quentin Martin said in a recent release. "The EGR Operator Awards are the Oscars of the betting industry and for us, an esports-dedicated platform, to be named Rising Star shows that the egaming world is taking esports seriously and accepts it is very much a vertical to watch."

Luckbox's platform offers the most comprehensive esports betting and spectating experience in the industry. The platform features 13 of the biggest titles in the competitive gaming scene today, including League of Legends, CS:GO, FIFA, Overwatch, and DOTA 2. Luckbox has separated itself from its competitors by offering more match coverage than just about any other platform live in more than 80 countries. Luckbox lets users make bets pre-match and during the action, with more than 20 payment options, including Visa, Mastercard, Trustly, Skrill, NETELLER, Bitcoin, and Ethereum.

The platform is also highly adaptable and is able to quickly add support for new esports titles as they become popular in a rapidly shifting esports landscape. Luckbox is currently focused on esports as the biggest growth area in the space, but the company also recognizes the significant size of the traditional sports betting market, with plans to offer online betting for NFL, NHL, soccer, tennis, and other major traditional sports leagues in the near future.

Companies like Luckbox are setting up for big days in the online sports betting industry. Luckbox went live on the TSX Venture Exchange in December 2020 with tremendous success, and the company foresees what could be a big year of growth in 2021.

"These are exciting times and 2021 will be a very busy year for us," Martin said. "So far, almost all of our growth has been organic and the potential for growth through marketing is huge."

Gaming Companies Move to Capitalize on Industry Momentum

Esports betting technology company FansUnite Entertainment (CSE:FANS) (OTCQB:FUNFF) announced in December that the company had entered into a partnership with GameCo LLC and Sky Ute Casino to establish the first esports-focused sportsbook in the state of Colorado. In November, the company announced that it had become a member of the Canadian Gaming Association, and FansUnite plans to take advantage of a Canadian landscape when it begins to shift towards online betting.

DraftKings (NASDAQ:DKNG) expanded its mobile sportsbook into several US states throughout the course of 2020, and the company is continuing that expansion in 2021, launching in Michigan in January. Already one of the biggest names in the traditional online fantasy sports betting space, the company has also expanded into fantasy esports in recent years.

In December, Landcadia Holdings II completed the acquisition of and combination with Golden Nugget Online Gaming (NASDAQ:GNOG). The companies had previously announced intentions in June to merge and subsequently go public on the NASDAQ, and Golden Nugget CEO Tilman J. Fertitta said that the company sees opportunity in the online gaming space.

Cathie Wood, founder, CEO, and CIO of ARK Invest, purchased 215,000 shares of Skillz (NASDAQ:SKLZ) in January, signaling momentum in the esports space. Skillz is a mobile games platform that lets epsports players connect through competitions and tournaments.

The sports betting and esports markets are building on the traction gained last year, creating even more opportunities for platforms like Luckbox as the industry moves forward.

For more information on Luckbox, click here.

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