Sports Betting Companies Are Uniquely Positioned For Expansion

Despite the cancellation of most sports leagues for a significant chunk of 2020 because of the COVID-19 pandemic, the growth of online sports betting – and to a lesser extent other forms of internet gambling – helped the industry reach new heights while people stayed at home.

The market in the U.S. For both retail and online sports betting is just setting up as more states move toward legalization. Both domestic and overseas companies are getting in the game, and now. The neighboring state's latest report on sports betting suggests New York has been missing out on millions of dollars in taxes. New Jersey recorded $50.6 million in sports betting revenue in.

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New York, NY – February 8, 2021 – Legal breakthroughs across the United States and beyond are helping to bring the sports betting industry into the mainstream like never before. As legal restrictions to online sportsbooks come down, the industry has new opportunities to integrate betting into other pillars of the sports entertainment experience for increased visibility, accessibility, and convenience. Through partnerships and acquisitions, sports betting and entertainment companies like Real Luck Group Ltd, “Luckbox”, (TSXV: LUCK), Fubotv Inc (NYSE: FUBO), Elys Game Technology Corp (NASDAQ: ELYS) (NEO: ELYS), Esports Entertainment Group Inc (NASDAQ: GMBL), and Score Media and Gaming (TSX: SCR) (OTCPK: TSCRF) are integrating betting with sports streaming platforms, sports news outlets, and more to give fans the most complete entertainment experience possible.

Luckbox is Building the Most Complete Sports Entertainment Experience

New Online Sports Betting Companies

Real Luck Group Ltd, “Luckbox”, (TSXV:LUCK) is working to build a complete esports and traditional sports betting experience by building a platform that lets users watch and bet on nearly any major event anywhere in the world. Luckbox is a fully licensed global esports betting platform that offers real-money betting pre-match and mid-game while also providing high-quality streaming of nearly every match.

8, 2021 /PRNewswire via COMTEX/ - NEW YORK, Feb. 8, 2021 /PRNewswire/ - Legal breakthroughs across the United States and beyond are helping to bring the sports betting industry. Only available to new sports betting customers. Minimum deposit £20 (no Skrill/Neteller). Cashback capped at £20. Only valid on sports betting with min odds 3/4 (1.75). Must wager £400.

Luckbox offers high-quality live streaming of 90 percent of esports matches featured on the platform, giving users a single destination to seamlessly place their bets and watch the action. Luckbox features more esports matches than almost any other esports betting platform in more than 80 countries. The Luckbox platform includes the 13 biggest esports titles going today and is easily able to quickly add new titles as they rise in the esports scene.

On February 3, Real Luck Groupannounced that the company would be adding traditional sports betting to the platform in partnership with EveryMatrix Ltd. Luckbox will be adding more than 105 traditional sports with around 85,000 pre-match events, 70,000 live events, and 450 types of bets each month.

“The timing of this announcement could not have been better as the Super Bowl, the largest sporting event in the United States and a top-five event globally, gets underway this week,” Luckbox CEO Quentin Martin said in the company’s release. “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. On behalf of Luckbox, I want to thank EveryMatrix for helping us integrate traditional sports betting into the Luckbox platform.”

Gaming Companies Expand into Sports Entertainment Ecosystem

Canadian sports media company Score Media was spun out in 2014 to create Score Media and Gaming (TSX:SCR) (OTC:TSCRF), which runs its flagship theScore sports media outlet, along with adjacent sports and esports betting platforms. In January this year, the company released its Q1 financial results, showing the company’s best ever quarter for media revenue and exponential handle growth for its betting platform.

Sports-centric streaming platform FuboTV Inc (NYSE:FUBO) took its first step into the world of sports betting in December with the acquisition of Balto Sports. Balto Sports is a platform that develops tools for users to organize and play fantasy sports games and FuboTV says that it intends to combine Balto’s technology with its own to launch a free-to-play gaming offering.

B2B and B2C Betting technology company Newgioco became Elys Game Technology Corp (NASDAQ:ELYS) (NEO:ELYS) this past summer and the company announced that it would be shifting its focus to the rapidly growing US sports betting market. On January 28, the company announced that it expects revenue growth of 26 percent for the fourth quarter of 2020.

In addition to facilitating online esports betting, Esports Entertainment Group Inc (NASDAQ:GMBL) runs a platform that lets its users participate in multi-player mobile, console, and PC esports tournaments online for cash prizes. The company has been busy at the start of 2021 acquiring assets to add to its esports offerings. On January 21, the company completed its acquisition of the Esports Gaming League. On January 25, the company finalized a binding agreement to acquire esports-related platforms Helix eSports and ggCircuit.

As jurisdictions continue to open up to online sports betting, there is growing opportunity for companies like Real Luck Group to integrate themselves into other parts of the sports entertainment experience, allowing them to become indispensable parts of the sports entertainment ecosystem.

Sports Betting Companies Stock

For more information on Real Luck Group, “Luckbox”, click here.

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