Online Sports Betting Expands With Additions of More Traditional Sports and Esports

Online Sports Betting Expands With Additions of More Traditional Sports and Esports

PR Newswire

NEW YORK, Feb. 17, 2021

- FN Media Group Presents Microsmallcap.com Market Commentary

NEW YORK, Feb. 17, 2021 /PRNewswire/ -- The rise of a whole new form of sports entertainment has made esports the fastest growing segment of the sports betting industry. At the same time, the hype surrounding this year's Super Bowl has made it clear that traditional sports are still going strong and so is traditional sports betting. Companies focused on sports betting are finding a huge opportunity to seamlessly integrate esports into their existing platforms, while new players that have so far focused on esports are finding opportunities in traditional sports as well. As companies like Skillz (NASDAQ:SKLZ) and Enthusiast Gaming (TSX:EGLX) (OTCQB:ENGMF) move esports forward, companies like Real Luck Group Ltd, "Luckbox" (TSXV:LUCK), DraftKings Inc (NASDAQ:DKNG), and Penn National Gaming (NASDAQ:PENN) are bringing esports and traditional sports betting together.

Sports Betting's Most Comprehensive Platform Gets Even Bigger

Among the most recent companies to bring esports and traditional sports betting together is Real Luck Group Ltd, "Luckbox" (TSXV:LUCK). Luckbox is a fully licensed sports betting and streaming platform with some of the most complete esports coverage in the sports betting industry. The company's platform offers legal real-money betting pre-match and mid-game, along with live streams of 90% of Esports matches featured on the platform. The company's service is live in more than 80 countries and has more esports matches than almost any other esports betting platform. Luckbox was named a Rising Star at the 2020 EGR Operator Awards.

While the company established its place in the online betting space by focusing on esports, the fastest growing segment of the sports entertainment industry, Luckbox's platform was also built to seamlessly integrate traditional sports betting once the company decides it is ready to branch out. On February 3, in the leadup to Super Bowl LV, Luckbox announced that the company is ready to take that step, partnering with Business-to-Business software development company EveryMatrix Ltd to add the functionality. Luckbox is set to add more than 105 traditional sports to the platform, with 85,000 pre-match events, 70,000 live events each month, and 450 types of bets.

"Our partnership with EveryMatrix allows us to roll out the functionality with the Australian Open tennis and rugby union's Six Nations on to the Luckbox platform following Super Bowl LV. Luckbox is a destination for esports betting, but we know most of our players also love traditional sports. This new functionality means they can bet on hugely popular sports such as soccer, basketball and hockey from the convenience of Luckbox - a single and secure platform that now integrates esports and traditional sports betting," Luckbox CEO Quentin Martin said in the company's release. "On behalf of Luckbox, I want to thank EveryMatrix for helping us integrate traditional sports betting into the Luckbox platform."

Sports Betting Companies Embrace Esports

Luckbox began with esports before branching out with traditional sports, but some established traditional sports betting companies are doing just the opposite as they realize the momentum behind esports. Fantasy sports platform DraftKings Inc (NASDAQ:DKNG) has added a number of esports-related services in recent years, including announcing in March last year that the company would run daily fantasy Counter Strike: Global Offensive esports events.

Legacy gaming giant Penn National Gaming (NASDAQ:PENN) stepped into the sports betting and fantasy sports space in a big way last year with the purchase of sports media company Barstool Sports and the subsequent establishment of a Barstool-branded sports betting platform. Penn Interactive VP of strategic marketing said in May last year that esports "will be a big part of gambling's future" after the company hosted betting on the eNASCAR iRacing Pro Invitational Series.

Esports is the Hottest Segment in Sports Entertainment

Over the past few years, emerging technology companies have found massive opportunity by focusing on esports. Enthusiast Gaming (TSX:EGLX) (OTCQB:ENGMF) has built the largest gaming network in North America by managing esports media and live esports events while working with some of the biggest esports teams in the world. Enthusiast now reaches an audience of 300 million monthly visitors with 4.2 billion page views per month.

Esports company Skillz (NASDAQ:SKLZ) has been named by Forbes as one of the next billion-dollar startups and one of the fastest growing companies in America after building a leading platform for hosting casual esports tournaments for real cash prizes. On February 4, the company announced that it had signed a multi-year gaming agreement with the National Football League to host NFL mobile esports events, starting with a global game developer challenge.

Esports has quickly become an important part of the overall sports entertainment landscape, and companies like Real Luck Group are maximising their userbases by bringing esports together with the traditional sports entertainment experience.

Click here to find out more about Real Luck Group, "Luckbox".

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