How Sports Betting is Thriving Despite COVID-19 Lockdowns

FN Media Group Presents Financialmorningpost.com Market Commentary

NEW YORK, July 17, 2020 /PRNewswire/ -- In March 2020, the novel coronavirus swept through the U.S., forcing stay-at-home orders and business closures across the country — including all but two of the country's nearly 1,000 casinos. Mentioned in today's commentary includes: Wynn Resorts, Limited (NASDAQ:WYNN), Intel Corporation (NASDAQ:INTC), Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), HUYA Inc. (NYSE:HUYA).

That same month, New Jersey, Delaware, Nevada, and Pennsylvania — the four U.S. states with legal online poker sites — all reported record-high online gaming revenues. In particular, Nevada, the country's gambling hub, reported more than a 90% increase from the same month last year.

Even before COVID-19 struck, the online gambling industry has been growing exponentially for years. In 2017, the global market was valued at around $45.8 billion. By 2024, some experts predict global online gambling bets will hit nearly $95 billion. And the global market for online gambling is estimated to grow by 11.5% annually until 2027.

"There is a huge shift coming to online betting and we are perfectly situated to take advantage of that," said FansUnite CEO and co-founder Darius Eghdami in an exclusive interview.

While FansUnite ( FANS.CN; FUNFF.PK ) only went public on May 5, 2020, it's quickly emerging as a serious player (pun intended) in the public online gambling market.

For one thing, it has some of the most impressive forward-facing sports betting technology in the industry. Its proprietary software allows the company to market unique products and services, and—more importantly—provide increased transparency which allows regulatory oversight in an industry that desperately needs it… all while saving its customers money.

Also, the company's management team—which includes some of the best players in the business, with decades of combined experience—is pursuing aggressive growth through mergers and acquisitions; in a few short months, it's already completed or signed multiple strategic deals to grow its user base and greatly expand its service offerings… and it's actively looking for more.

Specifically, as more and more states legalize sports betting, FansUnite has its eye on capturing the emerging U.S. sports betting market.

A moment in history… and a huge potential catalyst