Sports Betting Market Poised For An Even Bigger Boom In 2021 - Seite 2

"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.

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