Golden Matrix Aims to Launch E-sports Peer-to-Peer Betting Application

LAS VEGAS, NV, May 11, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Golden Matrix Group Inc. (OTC:GMGI), a developer and licenser of social gaming platforms, systems and gaming content, today announced it had entered into discussions with multiple parties to design and launch an E-sports peer-to-peer betting application that can be integrated with the company’s GM-X gaming platform. The planned web-based solution with a mobile interface would make it easy for gamers to connect and compete for cash. 

The company believes an easy-to-use E-sports app would become “very popular” with the company’s aggregate user base of over two million players. E-sports gamers wanting to monetize their skills would be able to make friendly wagers with strangers and friends in head-to-head matches.

“There are over 1.2 billion gamers worldwide, and popularity for E-sports continues to increase rapidly,” said Golden Matrix CEO Brian Goodman. “We believe this new E-sports offering would not only allow GMGI to generate additional revenues from our existing distribution base, but also provide an opening for us to expand beyond the Asia-Pacific region and enter the U.S. and other markets.

“Currently, we service over 310 casino operators; and discussions with some of our larger operator clients have suggested there is already solid demand for such a project. By leveraging our tried-and-tested systems and extensive gaming knowledge, Golden Matrix now has a timely opportunity to capitalize on the meteoric rise of the electronic sports industry.”

Mr. Goodman said E-sport activities “would be an excellent complement to the company’s core gaming business and provide an added source of revenues, profits, and cash flow for GMGI and ramp up over time.”

According to Newzoo:

• Global E-sports revenues will grow to $1.1 billion in 2020, a year-on-year growth of +15.7%, up from $950.6 million in 2019.

• In 2020, $822.4 million in revenues—or three-quarters of the total market—will come from media rights and sponsorship.

• Globally, the total E-sports audience will grow to 495.0 million people in 2020, a year-on-year growth of +11.7%.

• Mobile E-sports enjoyed a huge spike in the past year, with emerging markets like Southeast Asia, India, and Brazil at the forefront of this growth.

What is E-sports?

E-sports events are competitive video game tournaments that are organized through various means and pit individual players or teams against one another. E-sports is a subsection of the video gaming, sports, and entertainment industries. The gamers are watched and followed by millions of fans all over the world, who attend live events or tune in on TV or online. Streaming services like Twitch (an Amazon subsidiary) allow viewers to watch as their favorite gamers play in real time.