Month: May 2021

The matches are scheduled to start with Brazil vs. Ecuador on 3 June, and run until the final match against Argentina in November.

Mobius said the Brazil World Cup qualifiers will attract an average audience of 35m people per match on Globo TV, the largest commercial TV network in Latin America.

The operator said the Globo TV network is able to reach 99.5% of the Brazilian population, consisting of over 211m people, and that the national team’s qualifier against rivals Argentina is expected to top 40m viewers.

“As we go to market in Brazil with a great opportunity, Mobius.Bet will be showcased in all the stadiums, featuring the best teams in Latin America,” said Lynn Pearce, chief executive of Mobius Interactive.

“I don’t believe we could have wished for a better launch pad to introduce ourselves to the sports enthusiasts and betting community in this region. The team at Mobius are ecstatic to be a part of these events; we are just as excited about the games as the Brazilian fans are – all the way to Qatar in 2022.”

Last month, Mobius announced a private placement of 5m shares at a price of CA$0.40 (£0.23/€0.27/$0.32) per share, in order to raise funds of CA$2m.

The operator said a significant portion of the funds would be used for marketing campaigns to grow the brand in the three key markets of India, Brazil and Mexico.

Gaming operations generated $1.08bn of the total revenue figure, up 19.8% year-on-year, while food, beverage, hotel and other revenue sources brought in $192.9m, down 9.5%.

The operator said that its Barstool Sportsbook, which first launched in Pennsylvania in September in association with sports media company Barstool Sports, has since registered over 400,000 customers and generated over $660m in handle, for more than $61m in gaming revenue.

Penn said it plans for the online sportsbook to be live in 8 states by football season and in at least 10 states before the end of the year.

Total operating expenses for the quarter came to $1.06bn, including $528m in gaming expenses, $326m in general and administrative costs and $123m in food, beverage, hotel and other expenses. Total costs were down 36.9% compared to the $1.68bn paid in Q1 2020.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) came to $336.6m, up 117.4% from $154.8m in Q1 2020.

Read the full story on iGB North America.

Senate Bill 176 was introduced by Niraj Antani and details the legalization and regulation of the sports betting market, which may open on  January 2022, within the state.

Two types of license are permitted under the new legislation. Type A licenses allow vendors to offer sports betting through an online sports pool under one brand name each, with a single controlling person not permitted to able to obtain more than five of these licenses. Type B licenses (capped at a maximum of 20 per vendor) allow sports gaming agents to offer sports gaming at one retail facility.

Both license types require a nonrefundable $1m license fee, deposited into the Sports Gaming Revenue Fund. There is also a $10,000 nonrefundable application fee.

Read the full story on iGB North America

Genius intends to fund the purchase with cash and shares of its common stock, with the deal expected to close before the end of the second quarter of 2021. 

Founded in 2013, Second Spectrum offers tracking, analytics and data visualisation services in the sports market, allowing clients to automatically index action on the court, pitch or field within seconds.

Genius said the acquisition will accelerate its convergence of sports, betting and media to power the fan experience, combining its streaming capabilities with Second Spectrum’s interactive broadcast solutions.

The combined offering, Genius said, will create richer and more valuable official sports data and drive fan engagement that combines real-time data and analytics with augmented video streaming and personalised content.

Second Spectrum already has partnerships place with a number of major sports properties, serving as the official tracking provider of the National Basketball Association (NBA) and Major League Soccer (MLS) in the US, as well as football’s English Premier League. 

The provider also currently works with broadcasters ESPN, BT Sport and Bally Sports, and has deals in place with leading sports franchises such as the NBA’s Los Angeles Clippers.

Genius said that it expects the Second Spectrum business to be profitable post-integration.

“This acquisition supports our long-term strategic vision of utilising AI tracking, enhanced data insights and transformative technology to revolutionise the sports data landscape for the fans, our customers and sports and media partners,” Genius chief executive Mark Locke said. 

“Adding additional fan engagement technology to our already diverse and cutting-edge portfolio of products and services will create compelling, unique content, that will transform user experiences and create additional revenue streams for our customers.”

Second Spectrum chief executive Rajiv Maheswaran added: “Mark and his incredible team have built the fastest growing sports data platform on the planet by better serving sports leagues, fans and their partners by leveraging technology in novel and compelling ways. 

“Second Spectrum’s mission to be at the forefront of innovation in the sports ecosystem in combination with the scale and drive of Genius Sports will rapidly accelerate how content is created and experienced and bring significant value for our partners and clients.”

The deal marks Genius’s second acquisition this week, having also brokered an agreement to purchase free-to-play games and fan engagement solutions business FanHub Media Holdings.

Last month, Genius also completed its business combination with special acquisition company dMY Technology Group Inc. II.

The deal saw Genius begin trading on the New York Stock Exchange under the ticker symbol GENI and its warrants as GENI WS. The business went public with a valuation of $1.50bn.

The agreement covers the purchase of certain assets including staff, production studio and all intellectual property.

Holodeck Ventures chief executive Paul Dawalibi will also join EEG and take on the role of executive vice president of EEG Media, a new division that will focus on creating esports betting and entertainment content and affiliate marketing.

“This is a major step forward for EEG, placing us in a position where we own and control our content platform as part of executing on our play, watch, bet market strategy,” EEG chief executive Grant Johnson said. 

“As leaders in building engaging and exciting esports content, the Holodeck Media team is a welcome addition to EEG and will enable us to take the player experience to new heights, ultimately creating best-in-class destinations for esports fans and bettors. 

“By leveraging content to drive betting and magnify the value of every customer in the EEG universe, we gain a significant competitive advantage and build a moat around our business.”

Dawalibi added: “I was extremely impressed when I first interviewed Grant on the Business of Esports podcast. I immediately realised the incredible potential of the EEG business.

“We are delighted to join EEG to build together the best and most engaging esports content and betting platform.”

The deal marks EEG’s latest M&A activity, having in March, through its Malta-licensed subsidiary Esports Entertainment (Malta), completed the acquisition of online casino operator Lucky Dino Gaming Limited.

In January, EEG also finalised a binding agreement for its previously announced acquisitions of Helix eSports and ggCircuit.

An application for the determination of the appropriate distribution of the money held in the Football Index Player Protection Trust Account has been made, in addition to an identification of customers who would be entitled to those funds.

The account holds £4.5m currently; BetIndex’s liability to the customer stands at £3.2m, leaving them with a £1.3m surplus. It will be distributed among customers with funds in their accounts, and those whose bets are still active.

While the operator had assured that player funds would be protected above other creditors, its terms and conditions said that funds invested in players through bets on the platform have no such protection, as these were considered sums at risk. As a result, these funds were considered to be lost.

However, the administrators determined that as the wagers placed are still active, players may still be owed some dividends for the sums invested into players.

However, the dividend structure that made the Football Index platform popular is currently unsustainable – the operator would be liable to pay out £550,000 per month, which would put its account in default by 22 April.

As a result, the date at which dividends are to be calculated from is crucial, as an earlier date could benefit some customers with most money held in their accounts, while others would be left short changed. A later date would only make some customers – those with large portfolios – entitled to even more money, once again leaving others out of pocket.

The date chosen could be any date from the suspension of the platform to the date when the bets ultimately expire, but the administrators recommended 26 March, when the administration proceedings began. This would leave a surplus of £1.0m in the account, suggesting dividends worth around £250,000 would be paid out.

A hearing has been set for 10 May 2021 at 11:30am at the Royal Court of Jersey, whereby it will be determined exactly how BetIndex will be allowed to distribute the funds.

BetIndex entered into administration in March after its license was suspended by the GB Gambling Commission, leaving all Football Index customers out of pocket.

Football Index sponsorship deals with football teams Queens Park Rangers and Nottingham Forest were subsequently ended, and the government has since announced plans to open an inquiry into the platform’s collapse.

AvaBet offers players odds on sports including football, cricket and snooker. Bettors can wager using cash-out functionality, in-play betting and exclusive promotions.

AvaBet is a white label brand operated by BetConstruct’s Vivaro subsidiary, which is licensed in Malta and Great Britain.

“Our team have been using that time to map igaming trends and perfect our software, creating a diverse platform that caters to gambling novices and pros alike,” said Steven Gunner, director of AvaBet.

“While we are thrilled to see AvaBet go live, we will be continuously expanding its functionality and enhancing the interface of our product, ensuring it has the competitive edge and can continue serving modern bettors’ needs.”

Along with AvaBet, Kontempry currently operates Interbet and Betting.bet, and affiliate site Casinosites.ltd.uk, in Great Britain.

“AvaBet is a next generation sports betting platform that has been developed with enhanced UI and UX capabilities.” said Leon Hughes, CEO of AvaBet.

“We look forward to further developing the site and welcoming more players and affiliate partners on board.”

The partnership has been agreed alongside a broader deal with MLB, which sees Caesars become an authorized gaming operator of the league, and grants the operator rights to offer in-person and mobile wagering in Arizona. 

This will see Caesars launch its mobile product across the state, as well as open a new sportsbook and bar on a plaza adjacent to the Diamondbacks’ Chase Field stadium. 

As part of the agreement the operator also becomes an exclusive sports betting and daily fantasy sponsor for the team, meaning its branding will appear on the team’s signage and digital assets. 

The deal follows Caesars closing its £2.9bn acquisition of William Hill in April. This will see the non-US operations divested within a year, as it looks to accelerate growth in sports betting and igaming. 

“We went through a thorough process to identify the ideal partner that would bring experience and the strongest of reputations in legalized gaming,” Diamondbacks president and chief executive Derrick Hall said. 

“Caesars is considered the cream of the crop and aligns with our philosophy when it comes to professionalism, brand presentation, and customer treatment and brings its best in class William Hill mobile sports book product and retail sports betting expertise,” Hall continued. “Equally important, we went through our strong due diligence to find the industry leader in the education and execution of responsible gaming.”

Sports betting was legalised in the state through House Bill 2772 in April, which permits in-person betting at tribal casinos and sites owned major league sports teams. This has already seen DraftKings strike a deal with the PGA Tour’s TPC Scottsdale venue, and FanDuel strike a similar partnership with the Phoenix Suns Arena. 

Read the full story on iGB North America.

By Kenneth Williams

Overview of FYX and its partnership with Unikrn

The two companies’ strategic partnership will produce blockchain-based wager recording and bring FYX’s premier title CryptoFights to the Unikrn network.

Headquartered in North Carolina, FYX is a unique gaming betting platform where players can place wagers on their own matches. Originally called Kronoverse, the project is set to be released sometime in 2021 and will automatically facilitate tournaments with real cash prizes. The service is powered and recorded over the blockchain, providing security and transparency for player-to-player matches. 

Player-to-player betting is innovative, but FYX is leveraging its blockchain know-how towards other services too. Its partnership with Unikrn is a joint venture to bring FYX’s gambling products to the mainstream. However, betting operators have a lot more to gain from implementing blockchain technology with FYX and similar companies.

How is FYX bringing value to esports betting operators?

The blockchain is highly relevant to several of esports’ most significant problems. Cheating and match-fixing concerns have blemished the sector’s public image, but the security of the blockchain could reverse that reputation. The sheer pace of esports can strain operator resources, but digital ledgers improve both automation and security. Blockchain-focused companies such as FYX are already valuable partners, but their value will increase even more as blockchain is further adopted.

Logistics and integrity are the two major roadblocks preventing esports betting operators from offering more products in the space. Unikrn Virtual is the esports-exclusive bookies’ answer. Esports betting operators are already aware of the value of cryptocurrency. Quick and cheap transfers make it a preferred tender, and its connection to the blockchain protects both bettors and oddsmakers. Converting the system to track wagers is a logical step. 

Bets made on CryptoFights, FYX’s proprietary player-versus-player betting game, will also be hosted and recorded on a fancy new blockchain. Wagers made on Unikrn’s sportsbooks and their outcomes will also be recorded on Unikrn Virtual. The process will be entirely automated thanks to clever engineering from FYX. Partnerships between blockchain companies and betting operators could become a common occurrence thanks to the overlap.

What’s next for blockchain and esports betting?

FYX and Unikrn’s partnership isn’t solely focused on wager recording, though. The pair are breaking new ground in a market that other companies have only touched on. FYX first rose to prominence with its player-versus-player betting game CryptoFights, a one-on-one RPG-style duel based on Dungeons and Dragons combat. The combat RPG will now be hosted on Unikrn Virtual. Players duel each other for real cryptocurrency prizes and can sell loot to other users for real money.

CrytpoFights, and its Unikrn Virtual hosting, is also something that betting operators should consider. Esports fans are much more likely to actively play their favourite game than traditional sports bettors. Skill-based gambling games like CryptoFights are much more appealing to esports fans than the simple, predetermined fare that currently populates digital casinos. Operators don’t need to extend themselves into game development, but skill-based PvP betting games could be the next big thing.

Gross gaming revenue from the DraftKings-powered Scoreboard sportsbook amounted to $2.7m in April, up from $392,767 in the same month last year. This total also represents a 92.7% higher than $2.7m in March this year.

Player spending was up from $4.4m in April 2020 to $25.3m, with consumers having placed a total of 760,131 bets during the month.

Breaking wagers down by sport, basketball came out on top with $13.6m in bets, generating $1.6m in revenue, as the NCAA basketball tournament concluded.

Baseball ranked second $4.3m in bets and $1.6m in revenue, then football with $2.6m in total wagers and $227,684 in revenue.

Read the full story on iGB North America.