Sports Gambling Market Accelerates its Growth in the U.S.

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Oct 20, 2021, 09:00 ET

NEW YORK, Oct. 20, 2021 /PRNewswire/ -- The increasingly favorable attitude towards sports betting and online gambling is a trend that has started before the pandemic but was accelerated due to its effects. As the industry continues to develop and expand in the U.S., investors from countries where sports betting is already a mature industry are getting more interested in the future prospects the U.S. has to offer. Last year, the Betfred Group, founded by U.K. brothers Fred and Peter Done, set up 10 companies in Nevada to operate in states including Louisiana, Ohio and South Dakota, where lawmakers took steps this year to permit sports betting, according to registry filings, Bloomberg reported. The shift to a more favorable attitude towards online gambling services is visible across the board. According to data published AGC, nearly 7 in 10 (69%) Americans say that gaming provides a positive benefit to the U.S. economy and 63% agree that the industry provides high-quality jobs. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), DraftKings Inc. (NASDAQ: DKNG), Penn National Gaming, Inc. (NASDAQ: PENN), MGM Resorts International (NYSE: MGM), Caesars Entertainment, Inc. (NASDAQ: CZR)

According to a report from the Associated Press, Keith Gormley, Head of U.S. Marketing for Tipico, explained that this young market is very competitive, with dozens of sportsbooks and casino brands all spending across TV, radio, digital and sponsorships to attract the same customer. "You've got dozens of sportsbooks and casino brands all spending across TV, radio, digital and sponsorships to attract the same customer. Expensive bonus promotions and mass advertising certainly work to get them in the door, but a great mobile product and customer care is what will keep them playing with your book long-term," he said.

FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS) announced yesterday breaking news that, "the Company has appointed two trading managers.

The new team members will be responsible for overseeing trading activity and managing odds for all in-play wagering across FansUnite's betting platforms to ensure maximum profitability.

Profile of Newly Appointed Trading Managers

Alex Williamson

With 18 years of international betting industry experience, Alex was the Head of Sportsbook for Yew Tree Services Inc., a leading betting solutions provider based in the Philippines that supplied its technology to well-established Asian bookmakers like BETISN. During his tenure, he led the Bookmaking, Customer Service and Quality Assurance Departments, and managed roughly 400 employees. Prior to joining Yew Tree Services, he was part of a prominent professional betting group for nine years. Having worked in the U.K. and Asian regulated markets, Alex will be able to draw from his management and trading expertise to support the FansUnite team.

Ciaran Lawless

Ciaran's career spans 17 years of trading roles, having worked for notable European and Asian sportsbooks such as Betfair, Sportingbet and Betdaq to name a few. Additionally, Ciaran has also worked at Yew Tree Services Inc. as a Bookmaking Manager for eight years. Before joining FansUnite, Ciaran's most recent role was a Soccer Trading Analyst for Bet365 in Sliema, Malta where he analyzed in-play wagers and controlled bet referrals. With significant work experience in some of the largest betting jurisdictions such as the Malta, U.K. and Asian marketplace, he will play an integral part in assisting FansUnite's gambling operations.

'Given that the trading team represents the backbone of our back-end betting operations, we are pleased to welcome both Alex and Ciaran to FansUnite,' said Scott Burton, CEO of FansUnite. 'The addition of qualified sportsbook executives is imperative to ensure our wagering platforms run efficiently, upholding the high standards of FansUnite's proprietary betting solutions within a fast-paced gambling environment. That said, we are eager to onboard Alex and Ciaran as we continue to scale up our business globally in different regulated markets.'"

DraftKings Inc. (NASDAQ: DKNG), The New Hampshire Lottery and Filotimo Casino & Restaurant announced on October 18th, they are teaming up again to expand retail sports betting in New Hampshire. Manchester-based Filotimo Casino & Restaurant, which houses DraftKings Sportsbook at Filotimo, today opened a sister retail sports betting establishment in Dover under the same name located at 887 Central Avenue in Rollinsford. The Filotimo property is shared between the city of Dover and the town of Rollinsford, with the building located in Rollinsford. DraftKings Sportsbook at Filotimo in Dover marks New Hampshire's third retail sportsbook; DraftKings Sportsbook at The Brook in Seabrook opened in August 2020 and DraftKings Sportsbook at Filotimo in Manchester opened in September 2020. "Sports betting has been a success in New Hampshire since launching nearly two years ago and we are pleased to continue working with DraftKings and Filotimo Casino & Restaurant to expand sports betting opportunities for our players," said Charlie McIntyre, Executive Director, New Hampshire Lottery. "The new DraftKings Sportsbook at Filotimo in Dover will further cement New Hampshire as the premier sports betting destination in the northeast, and we know this location will continue to make a major positive impact on our ongoing efforts to maximize revenue for our schools here in New Hampshire."

Penn National Gaming, Inc. (NASDAQ: PENN) and Score Media and Gaming, Inc. announced on August 5th, that they have entered into a definitive agreement whereby Penn National will acquire theScore, a leading digital media and sports betting and technology company, for approximately US$2.0 billion in cash and stock. Jay Snowden, President and Chief Executive Officer of Penn National, commented, "We are thrilled to be acquiring theScore, which is the number one sports app in Canada and the third most popular sports app in all of North America. theScore's unique media platform and modern, state-of-the art technology is a powerful complement to the reach of Barstool Sports and its popular personalities and content."

MGM Resorts International (NYSE: MGM) subsidiary, BetMGM announced on October 4th, an exclusive market access partnership with the Puyallup Tribe of Indians to operate retail sports betting at the Emerald Queen Casino (EQC) in Washington state. "Today's announcement marks another key moment in the expansion of BetMGM as we extend our western footprint into Washington," said BetMGM CEO Adam Greenblatt. "The Puyallup Tribe and Emerald Queen Casino are ideal partners for us as they represent the same high-level of service, amenities and experiences that is built into our DNA at BetMGM.

"Caesars Entertainment, Inc. (NASDAQ: CZR) and the Indianapolis Colts announced on September 16th, a partnership making Caesars Sportsbook a premier sports betting partner and the only official casino partner of the team. "Expanding our sponsorship with the Colts to serve as their premier sports betting partner and only casino partner is an exciting step in our longstanding relationship," said Chris Holdren, Co-President of Caesars Digital. "Indiana has been a special place for our company, and we know how passionate these great sports fans are for their home team. Caesars will continue to push for innovation to bring the best in sports experiences, both in-person and on mobile, to the Hoosier State through Caesars Sportsbook and our partnership with the NFL."

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