“We’ve already had some acquisition offers from players in this space, we expect to receive more as we start to offer these companies access to a completely new user demographic that they’re struggling to acquire,” says Luckbox CEO Quentin Martin
In the gambling world, the gold rush that is attracting all the biggest names among the world’s major casinos and bookmakers is the US, where a wave of legalisation is opening up the market.
But another new gambling market is currently making fewer headlines but from a smaller base its potential for growth is perhaps even more remarkable.
Since pretty much the dawn of the human race, wherever there are games of skill and chance, it is only a matter of time before two parties are betting on the result.
So it was inevitable that with the rise of esports, betting on these games would spring up too.
In fact, esports betting is the largest revenue stream in the esports market, with almost C$1.3bn last year compared to global esports revenue of C$1.4bn.
Luckbox, which is based in the Isle of Man and is poised to float on Toronto’s Venture Exchange on Wednesday under its official corporate moniker of Ltd (), is one of the first movers in the esports betting market and one of the few pure-play names.
The company was built from scratch by a team now led by CEO Quentin Martin, a former top-ranking professional cardplayer and esports gamer in the UK and Canada, who eventually swapped his gaming deck for a desk and a job in the online gambling industry.
Martin, who still plays “as much as this job will allow me” and has a PS5 at the top of his Christmas wish list, was part of the senior management team at egaming giant Pokerstars, which became and was taken over by FTSE 100 group Flutter for US$6bn earlier in 2020.
Along with two co-founders also from Pokerstars, Martin helped start Luckbox in 2018 and soft-launched a live product in spring last year.
“We got into it with a company vision of esports betting done right. Unlike early on in the esports betting landscape where there were a lot of companies that weren’t licenced, myself and the other two founders came from a company that always had a very strict ethical perspective of doing the right thing by the customer. And that was kind of the guiding light of Luckbox as we got started.
“And we want to bring that kind of integrity and authenticity into the esports betting landscape. That’s why we have an Isle of Man licence, which, particularly from a player-protection perspective, is one of the best gaming licences in the world.”
Luckbox currently accepts customers from about 80 territories globally and is a dedicated esports betting site, though in the coming weeks will be adding the option to bet on around 100 more traditional sports and…
Read More:Source link