Why Online Gambling Companies Could Surge in 2021
NEW YORK, March 11, 2021 /PRNewswire/ -- With the gaming industry booming, online gambling companies have been experiencing tremendous growth as users shift from traditional gambling scenes. Thanks to waves of changes in the early months of 2021, like Google announcing the reintroduction of gambling apps back in the Play Store, to digital wallets and payment processors partnering with online gambling operators, the future of the industry appears quite promising. Add this to the fact that Bill C-218 recently passed a vote in Canada's House of Common's with overwhelming support, companies like FansUnite Entertainment Inc. (CSE:FANS) (OTCQB:FUNFF), Score Media and Gaming (TSX:SCR) (OTCPK:TSCRF), Wynn Resorts (NASDAQ:WYNN), Caesars Entertainment (NASDAQ:CZR), and Real Luck Group Ltd, "Luckbox", (TSXV:LUCK) could be gearing up for significant rallies on the backdrop of these catalysts.
Growing Acceptance of Online Gambling
The recent House of Commons vote in favor of Bill C-218 in Canada marked a major step towards decriminalizing single-event sports betting, which opens up operators like Real Luck Group Ltd, "Luckbox", (TSXV:LUCK) to the country's online gaming industry. According to Deloitte Canada, within five years of the passage of the law, Canadian sports betting will be able to grow from $500 million a year to $28 billion a year, illustrating just how massive of an opportunity we're talking about.
The Bill's proposed changes would allow provinces and territories to regulate and license single-event sports betting but as the wave of legalization gathers momentum, the next hurdle the industry will have to overcome is how to process payments.
This is why even payment processors are finally coming around to the idea of integrating with online gambling companies. Luckbox signed agreements with Skrill, NETELLER, ecoPayz, and Trustly, which will offer a broad range of payment options, including Visa, Mastercard, ApplePay and Google Pay, to customers in more than 100 countries worldwide.
The Company is exploring other potential payment partnerships as well. Quentin Martin, Luckbox CEO, said: "We are delighted to be working with four of the most prestigious payment providers in the betting industry. These deals provide a broad range of payment options to players in key markets for us, not least in Latin America, Europe and the CIS region, where esports betting is hugely popular."
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