NEW YORK, Feb. 9, 2021
- FN Media Group Presents Microsmallcap.com Market Commentary
NEW YORK, Feb. 9, 2021 /PRNewswire/ -- According to a recent forecast showcasing growth, trends, and COVID-19 impacts, the esports market is now expected to register a CAGR of 20% between 2021-26. It's not just the players themselves that are getting in on the action either, as esports betting is also increasing spectator engagement. Globally, the esports betting market was said to be worth $17.2 billion in 2020. Now this segment of the esports bonanza is being serviced by multiple platforms, including from Bragg Gaming Group (TSX: BRAG) (OTCQX: BRGGF), FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF), DraftKings Inc. (NASDAQ: DKNG), 888 Holdings (OTCPK: EIHDF), and Real Luck Group (TSXV: LUCK).
Via their market-leading ORYX Hub platform, Bragg Gaming Group (TSX: BRAG) (OTCQX: BRGGF) recently announced the launch of RGS services for sports betting with casino operator Betway.
Back in 2015, Betway made history by becoming the first major UK bookmaker to take on esports betting.
"We're delighted to see our partnership with Betway go live and our titles are going to offer a new dimension of content to their players," said Matevz Mazij, Managing Director of ORYX Gaming. "Our RGS content has already been proven strong in Germany and beyond, and this partnership will further strengthen the reach and reputation for both our companies."
Betway currently provides sports betting, casino, and esports betting to players across a variety of regulated online markets. Now with this partnership, Bragg Gaming Group has access to several jurisdictions through various licenses, including Belgium, Denmark, Germany, Ireland, Italy, Malta, Spain, and the United Kingdom.
Through the agreement, Betway has the right to use ORYX's player engagement tools and data services available via ORYX Hub. These player engagement tools include free spins, tournaments, and leaderboards.
"Seeing the array of premium content from ORYX become available to our customers is the result of hard work and close collaboration," said Paul Adkins, Marketing and Operations Director at Betway. "It's great news for everyone involved and we're sure that it's the start of a relationship that will be a huge success."
After a series of industry wins, and sustained positive momentum, Bragg Gaming Group recently graduated to the big board, from the TSX Venture to the Toronto Stock Exchange. Among their feats was the Q3 2020 reporting of an exceptional revenue growth of 72%.
"We're excited to further raise Bragg's profile as a leader in the B2B global online gaming market with our launch on the TSX," said Richard Carter, Board Chair at Bragg Gaming. "As international regulations continue to evolve and the online gaming market expands, investors and analysts are looking to companies with the cutting-edge technologies and market-leading content that Bragg is known for."
Through its 888 Sport platform, 888 Holdings (OTC: EIHDF) also currently offers live esports betting on a variety of leagues around the world. However, earlier this year, there has been speculation that the London-based online gaming specialists could be a takeout target.
After the death of its CEO Sheldon Adelson, casino giant Las Vegas Sands has appeared to soften its anti-online gaming stance. Adelson was long known as an industry warrior against online gaming; however, in the wake of his passing, there's more speculation that many of the laws he fought to uphold will fall.
Hence why there's been chatter that 888 Holdings could be a significant takeout target for Las Vegas Sands. According to Bloomberg, acting CEO Robert Goldstein is in the early stages of talks to use the Sands brands to develop some forms of sports-betting options.
Another company that utilized the know-how of 888 Holdings was Real Luck Group (TSXV:LUCK), best known for their mobile platform Luckbox, which reported a very successful 2020, registering a 500% increase in year-over-year growth.
The Luckbox developers recently appointed former 888 Holdings executive Ran Kaspi as their new Chief Financial Officer.
Moving forward, Kaspi's addition and CEO Quentin Martin's recent remarks have shown a clear path outlined by the company to expand upon their esports wagering platform.
"2020 was a great year for Luckbox," said Martin to SBC. "Esports and particularly esports betting is one of the few industries that benefited from the lockdown, especially early in the year when almost all traditional sport was halted."
Looking to expand its reach into new markets, FansUnite Entertainment Inc. (CSE: FANS) (OTC:FUNFF) recently entered into a partnership with compliance and licensing solution specialists OneComply. The aim of the partnership is to enter additional North American legalized gaming jurisdictions as they open up.
Even more recently, FansUnite through its subsidiary Askott Entertainment, signed an agreement with Gaming Laboratories International to assess its online betting offerings for compliance and certification potentially over 6 continents. To complete GLI's assessment, FansUnite will undergo world-class testing procedures for its leading iGaming and sports betting solutions, such as the Chameleon Gaming Platform and Askott Entertainment's suite of RNG games.
Perhaps the one of the biggest names in traditional sports betting is DraftKings Inc. (NASDAQ:DKNG)—which together with FanDuel represents approximately 63% of the US online traditional sports betting market.
At this time, neither FanDuel nor DraftKings Sportsbook offer esports betting on their platforms. Interestingly enough, however, both do offer Daily Fantasy Esports on their platforms, including Daily Fantasy for such popular esports lines as Call of Duty, CS:GO, League of Legends, eNASCAR, and Rocket League.
With the exposure already there, and given they're already established betting platforms, a transition into esports betting for DraftKings could be a smooth process.
Luckily, companies like Bragg Gaming Group make this kind of transition look easy, thanks to their innovative B2B online gaming solution technology.
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