Palm Beach, FL – June 16, 2021 – Interest in eSports keeps on growing on a global scale. Currently, eSports betting is one of the hottest trends among people who love video games and gambling at the same time. Shortly after the appearance of video games in which players pit their wits against each other, the idea of betting on who will emerge victorious started to loom. The first video game competition for an actual material prize took place at Stanford University in October 1972. In 1980, the game competitions garnered a great deal of attention after Atari held the Space Invaders Championship. Unfortunately, competitive video gaming experienced a major slowdown due to the lack of quality control. Fast-forward to today, the eSports market was valued at nearly $1 billion, marking a significant year-on-year growth, according to an article in SportingPedia. Some of the reasons why eSports has exploded in popularity include the abundance of games as well as their quality and accessibility. The SportingPedia article said: “The rising popularity of eSports stimulated licensed sports betting operators to offer eSports betting services. Traditional eSports betting and skin betting are the two aspects of eSports betting. Traditional eSports betting is more straightforward and easy-to-understand as players wager real money on a given outcome. Bookmakers who offer eSports betting handicap all possible outcomes to make different bets worth the attention. The main advantage associated with traditional eSports betting is that players are well aware of the amount of money they risk.” Active gaming and tech companies in the markets today include: Esports Technologies (NASDAQ: EBET), Corsair Gaming, Inc. (NASDAQ: CRSR), Boyd Gaming Corporation (NYSE: BYD), Bally’s Corporation (NYSE: BALY), DraftKings Inc. (NASDAQ: DKNG).
SportingPedia continued: “Industry insiders believe that the future will open new horizons for the eSports industry development. New games with better quality will appear on the scene to cater to the constantly growing demand for new more engaging games. Some experts even consider that artificial intelligence will also find its place in eSports. In addition to that, more jurisdictions will regulate the eSports betting market. Recognizing the big potential of the eSports industry, a growing number of casinos started to accept wagers for eSports competitions. In 2018, Luxor Casino made the headlines after it was announced that the casino is ready to open the first purpose-built eSports arena on the Las Vegas Strip. We expect that this trend will continue and other land-based casinos will build such an arena.”
Esports Technologies (NASDAQ: EBET) – BREAKING NEWS – Esports Technologies To Join Forces with Paddy Power’s Virtual Sports Stock Exchange ASX – Targets U.S. Market with Potential to Reach 90 Million American Users – Esports Technologies, a leading global provider of advanced esports wagering products and technology, today announced it has entered into a letter of intent to form a strategic alliance with American SportZ Exchange (ASX), a new virtual sports trading exchange. Through this proposed collaboration, Esports Technologies aims to deliver its industry-focused data feed (pre-play and in-play) and expertise to support ASX in the creation of a more esports-focused product.
ASX, was launched in May 2021 by Paddy Power, the son of David Power who founded the sportsbetting brand of the same name. (Flutter Entertainment is the parent company of Paddy Power and also owns companies such as Betfair and Fanduel). ASX enables users with the ability to buy and sell virtual shares in esports teams and individual players. It offers live “share prices” of teams and players, based on an AI-driven algorithm and live data feeds. ASX is mainly targeting the U.S. market and has the potential to reach some 90 million American users.
Under the proposed alliance, Esports Technologies expects to provide real-time data and statistics to power the platform’s esports execution. The analytics provided by Esports Technologies is expected to add a new dimension of live engagement and peer-to-peer predictions for esports betting on ASX, all with the mission of bringing higher liquidity and improving customer retention.
Bart Barden, Esports Technologies COO, said, “We look forward to joining forces with ASX, which is emerging as a vibrant force in sports trading exchanges. Esports Technologies’ advanced data and platform solutions are being tapped by leaders throughout the industry to help drive esports product innovation. As a technology partner, our deep and granular real-time data intends to further enhance the excitement and appeal of the ASX platform. This is a perfect alignment of capabilities fans want.”
ASX president and co-founder Paddy Power added, “Esports Technologies’ proprietary data analytics are far and beyond superior to other options in the markets. Their offering adds a more specialized layer to the financial market technology we already rely on, providing our users with even better data to make informed trades. The Esports Technologies leadership team is a trailblazer in the rapidly emerging esports domain. It’s a thrilling time to see how we might collaborate to mutually-beneficial effect over the coming months and years.”
EBET’s planned alliance with ASX comes on the heels of the strategic alliance with British bookmaker Colossus Bets, granting an exclusive license for the majority of Colossus’s cash-out patent portfolio for esports applications. This development is expected to significantly enhance the cash-out user experience across all EBET products. CONTINUED… READ THIS AND MORE NEWS FOR EBET BY VISITING: https://esportstechnologies.com/news/
In other entertainment and gaming recent news of interest:
Corsair Gaming, Inc. (NASDAQ: CRSR) recently announced financial results for the first quarter ended March 31, 2021.
First Quarter 2021 Highlights Were: Net revenue was $529.4 million, an increase of 71.6% year-over-year. Gamer and creator peripherals segment net revenue was $175.9 million, an increase of 131.9% year-over-year. Gaming components and systems segment net revenue was $353.5 million, an increase of 51.9% year-over-year; Gross profit was $160.3 million, an increase of 103.9% year-over-year, with gross margin of 30.3%, an improvement of 480 basis points year-over-year. Gamer and creator peripherals segment gross profit was $68.9 million, an increase of 211.1% year-over-year. Gaming components and systems segment gross profit was $91.5 million, an increase of 61.9% year-over-year; Operating income was $67.3 million, an increase of 404.5% year-over-year; Adjusted operating income was $80.4 million, an increase of 221.4% year-over-year; and Net income was $46.7 million, or $0.47 per diluted share, compared to net income of $1.2 million in the same period last year, or $0.01 per diluted share.
Boyd Gaming Corporation (NYSE: BYD) and Hawaiian Airlines recently announced a groundbreaking strategic partnership that will allow members to earn even more benefits and rewards with Boyd Gaming’s award-winning B Connected player loyalty program and the carrier’s celebrated HawaiianMiles program. Effective today, Boyd Gaming and Hawaiian Airlines loyalty members will enjoy reciprocal earning and redemption benefits with Boyd Gaming’s B Connected Points and the airline’s HawaiianMiles program. The partnership provides customers with greater access to B Connected’s exciting selection of reward tiers, exclusive player benefits and memorable entertainment experiences, as well as more ways to earn and use HawaiianMiles – making membership in both loyalty programs more attractive and valuable than ever.
“Hawaii is an incredibly popular destination among Boyd Gaming customers across the country, and Hawaii residents love nothing more than a trip to the ‘Ninth Island’ of Las Vegas,” said Matt Ryan, senior vice president and chief marketing officer of Boyd Gaming. “Through this new partnership, we can offer Boyd Gaming guests valuable rewards for their next excursion on Hawaiian Airlines – no matter which way they are going!”
Bally’s Corporation (NYSE: BALY), the premier, full-service, vertically integrated sports betting and iGaming company in the U.S., recently announced that it has completed the previously announced acquisition of Jumer’s Casino & Hotel (“Jumer’s”) from Delaware North Companies Gaming & Entertainment, Inc. The total purchase price was $120 million, which the Company funded using available borrowings under its revolving credit facility.
George Papanier, President and Chief Executive Officer of Bally’s Corporation, said, “As the latest step in our ongoing portfolio diversification strategy, we are excited to complete our acquisition of Jumer’s and enter the rapidly growing Illinois gaming market. The closing provides Bally’s with the potential to capitalize on several lucrative sports betting opportunities, which we expect will drive revenue and cash flow growth. We are pleased to welcome Jumer’s into the Bally’sfamily, and look forward to leveraging our expertise to enhance the property’s operations.”
DraftKings Inc. (NASDAQ: DKNG) recently announced the company will collaborate with the American Gaming Association (AGA) to promote the AGA’s Have A Game Plan.® Bet Responsibly™ public service campaign. DraftKings has committed to apply the campaign to many of the company’s owned channels, including at DraftKings’ retail gaming properties, to promote safer play. This collaboration marks the first time in the industry that the Have A Game Plancampaign will be comprehensively rolled out across a national retail sportsbook footprint. The campaign will appear in all ten DraftKings retail sportsbooks across the country.
“We are excited to join forces with the American Gaming Association to promote their forward-thinking public service campaign, Have A Game Plan,” said Christine Thurmond, DraftKings’ Director of Responsible Gaming. “Customer safety is paramount, and we are confident that implementing Have A Game Plan alongside our own responsible gaming messaging and tools will enable us to increase customer exposure to responsible gaming practices and ultimately foster safer play.”
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