NEW YORK, Dec. 21, 2020 /PRNewswire/ — More and more states are launching online betting businesses as the legal infrastructure and public opinion have turned in favor of such services. Next year, major markets such as Michigan will join numerous others as online sports betting becomes legal. However, all operators and platform providers, including popular ones like DraftKings and FanDuel, must still earn final licensing approval from the state before launching services. To illustrate just how popular the online sports betting is in states where the market can already operate, New Jersey recorded USD 803.1 Million in bets on sports in the month of October, setting the national record for the third month in a row, according to the state’s Division of Gambling Enforcement. Furthermore, according to a report by Mlive, Michigan’s commercial casinos also lost millions when they were forced to close from March 16th through Aug. 5th, before reopening at 15% capacity. As such, launching online wagering could provide an immediate boost for casinos. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), Wynn Resorts, Limited (NASDAQ: WYNN), Penn National Gaming, Inc. (NASDAQ: PENN), DraftKings Inc. (NASDAQ: DKNG), Boyd Gaming Corporation (NYSE: BYD).
This year’s election also further reinforces the industry. Three states had measures on the ballot to legalize sports betting: Maryland, Louisiana and South Dakota. All voted yes. Overall, there are now 19 states as well as Washington D.C. where sports betting services are currently operational, according to the American Gaming Association. Besides the election results, another factor most significant to the boost of the sports betting segment is attributed to the usage of smartphones, which have easy user interfaces and can be used at anytime and anywhere. According to a report by the Associated Press, companies like DraftKings are making serious strides in developing easy-to-use systems available to the public through partnerships with sports leagues. For example, The National Basketball Association and DraftKings had announced a multiyear partnership that makes DraftKings an authorized sports betting operator of the league.
FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS) announced last week that, “its partner, GameCo LLC (“GameCo”), a Las Vegas based pioneer in Video Game Gambling™, has entered into a partnership with US Bookmaking and Sky Ute Casino to establish the first dedicated esports sportsbook in the United States. Wholly owned subsidiary Askott Entertainment will supply its iGaming platform, Chameleon, as part of a fully integrated esports betting solution.
Through GameCo’s partnership with Sky Ute Casino and US Bookmaking, FansUnite will be the first iGaming solutions provider to receive significant exposure in the U.S. esports betting market.
As previously announced on <span…
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