What does it do
Ltd () is one of the first movers in the esports betting market and one of the few pure-play names.
Its Luckbox operating business is a dedicated esports betting site currently accepting customers from about 80 territories globally.
Luckbox was built from scratch by a team now led by chief executive Quentin Martin, a former top-ranking professional cardplayer and esports gamer in the UK and Canada. He and two ex-colleagues from Canada’s Pokerstars together co-founded Luckbox in 2018 and soft-launched a live product in spring 2019.
The esports betting website and app are licensed by the Isle of Man, which from a player-protection perspective is one of the best gaming licences in the world.
Why esports betting?
With Generation Z more likely to watch computer games than traditional sports, esports is becoming ever more mainstream and even before the coronavirus pandemic was predicted to be facing the highest growth potential of any sport.
Luckbox has seen first-hand the spike in players moving from betting on sports to betting on esports in 2020 and has managed to lock up around 75% of its customer gains.
Martin says esports betting, which uses the same licensing and infrastructure as the existing traditional sports betting industry, offers the potential for higher profits and has barriers to entry from the betting models.
What’s the latest
In December, parent company Real Luck Group listed on the TSX Venture Exchange in Toronto.
This followed a CA$6mln funding round from investors in the summer.
Around the turn of the year, Luckbox has plans to add the option to bet on around 100 more traditional sports and other events, including football, baseball and tennis, as well as developing a casino offering in the following months.
Looking ahead to 2021 at the time of the IPO, Martin said there remains “huge” potential for further organic growth through content marketing, affiliates, partnerships, influencers and direct media.
There are also plans from a B2B perspective, bringing odds compilation in-house, with Martin saying a merger or acquisition would probably be the most effective way to achieve that.
Read More:Source link