Sports Betting Market Poised For An Even Bigger Boom In 2021
NEW YORK, Jan. 13, 2021 /PRNewswire/ -- 2020 was a huge year for online sportsbooks, and 2021 might just go down as the most important year in the industry's history. Over the course of the last year, we saw sports betting legalization in key US states, as well as several European markets. This is happening as consumer adoption of online sports betting is accelerating amid a growing demand for at-home entertainment. Heading into 2021, the online sports betting industry has a broader reach and a larger user base than ever before, all as major league sports are returning to action. Major legislative breakthroughs in key markets are expected to continue into 2021, and companies like Bragg Gaming Group (TSXV:BRAG) (OTCQX:BRGGF), DraftKings Inc (NASDAQ:DKNG), Penn National Gaming (NASDAQ:PENN), Esports Entertainment Group (NASDAQ:GMBL) and FansUnite Entertainment Inc. (CSE:FANS) (OTCQB:FUNFF) are seizing the opportunities that are already here.
Bragg Gaming Group Partnering With Sportsbooks in New Markets
Bragg Gaming Group (TSXV:BRAG) (OTCQX:BRGGF) is an industry-leading provider of technology for online casino and sportsbook operators. As sports betting expands into new markets in 2021, few companies are going to see greater opportunities than Bragg. The company's ORYX Gaming platform provides licensed operators with everything they need to get an online sportsbook or online casino up and running, including sportsbook, lottery, marketing, and operational services, all in one omni-channel retail, online, and mobile iGaming platform. As new sportsbook operators look to move into newly opened online betting markets in time to capitalize on the excitement generated by major leagues returning to play, Bragg Gaming Group is ready to get these companies started.
On January 5, Bragg Gaming Group announced the company's latest sports betting partnership. Through its ORYX Gaming Subsidiary, Bragg has partnered with Dutch casino operator JVH gaming & entertainment group and global sports betting provider Kambi Group to integrate ORYX's technology with Kambi's sportsbook and take JVH's business online for the first time. This deal marks Bragg's first move into the Netherlands' online betting market at a time when the company is rapidly expanding its reach into new markets all over the world with partnerships like this one.
"This partnership with JVH and Kambi will be a model for bringing the latest in iGaming and sportsbook technologies to leading land-based casino operators everywhere," Bragg Gaming Group CEO Adam Arviv said in the company's release. "Our cutting-edge technologies, combined with JVH's market expertise, will create an unmatched experience for players looking for the latest in an online gaming experience."
Sports Betting Companies Growing in Surging Market
Fantasy sports and sports betting company DraftKings Inc (NASDAQ:DKNG) has seen phenomenal growth throughout the past year. In its 2020 third quarter results, the company reported revenue of $133 million, a 98% increase over $67 million during the same period in 2019. Like other online sports betting companies, DraftKings has been expanding rapidly into new markets, including into Michigan and Tennessee late last year.
Penn National Gaming (NASDAQ:PENN) made the move into online sports betting in early 2020 when the company finalised its acquisition of sports media company Barstool Sports, with plans to launch a Barstool-branded sportsbook app. Barstool Sportsbook launched to overwhelming success in mid-2020 and on January 5 this year, the company announced that it would be expanding the sportsbook into Indiana and Michigan.
Sports betting is not only surging for traditional sports. Esports is the fastest growing sector in the sports entertainment industry, and so it makes sense that esports betting is surging as well. Esports Entertainment Group (NASDAQ:GMBL) is one of the early sports betting platforms dedicated exclusively to esports. In December, the company finalized an agreement to acquire B2B-centric live and online events and tournaments platform Esports Gaming League.
Esports betting technology company FansUnite Entertainment Inc. (CSE:FANS) (OTCQB:FUNFF) announced in December that the company intends to create the first esports-focused sportsbook in the state of Colorado in partnership with GameCo LLC and Sky Ute Casino.
The online betting industry is expanding and creating new and exciting opportunities for companies like Bragg Gaming Group with each new market that opens up, and nowhere in the online gaming industry is that excitement more apparent than in sports betting.
Disclaimer: Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Bragg Gaming Group
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.
Media Contact:
FN Media Group, LLC
info@financialnewsmedia.com
+1(561)325-8757
View original content:http://www.prnewswire.com/news-releases/sports-betting-market-poised-for-an-even-bigger-boom-in-2021-301207036.html
SOURCE Microsmallcap.com
