Regulators and Leagues Alike Embrace Sports Betting

NEW YORK, Dec. 8, 2020 /PRNewswire/ — The online sports betting market has drastically changed after the landmark Supreme Court ruling in 2018, as any state got the option to pursue legalization. Two years since, the expansion of the new legal sports betting market has exceeded expectations as the relationship between sports leagues and the gambling industry has changed forever. There is now a growing number of sports organizations investing in marketing and promotional activities that have led to more major betting companies providing sponsorships for sports teams around the globe. Therefore, the rising commercialization of sports events is considered to be a key factor that is expected to positively impact the market growth of online sports betting during the next five years. And according to a research by ResearchAndMarkets, the sports betting market was valued at USD 85.047 Billion in 2019. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), GAN Limited (NASDAQ: GAN), DraftKings Inc. (NASDAQ: DKNG), Penn National Gaming, Inc. (NASDAQ: PENN), Scientific Games Corporation (NASDAQ: SGMS)

As the legal infrastructure becomes friendlier towards online gambling and sports betting in particular, the trend of partnerships with various leagues and teams across the country is expected to accelerate. “When legislatures return in earnest, we firmly believe the number of states ready to consider accelerating mobile sports betting and online gaming legislation to drive tax revenue will expand substantially,” said Matt King, CEO of FanDuel, according to ESPN. “And we also see the industry recognizing this is a unique moment in time, and working more collaboratively to set aside minor differences and get bills across the finish line. Across the board, it’s a time for pragmatism, and we see that producing a real opportunity for significantly expanding the map.”

FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS) announced yesterday breaking news that, “Askott Entertainment (Malta) Ltd. and E.G.G Limited, wholly owned subsidiaries of FansUnite Entertainment, have received approval from the Malta Gaming Authority (“MGA”). The Gaming Service License and Critical Gaming Supply license were received on December 4th, 2020. Both licenses are effective for a term of 10 years from the date of grant.

FansUnite will now be able to offer a full spectrum of online gambling services in Europe, covering Casino, Fixed Odds Betting, Pool Betting and Controlled Skilled Games.

With MGA approval received, FansUnite will be joining other highly respected gambling companies such as PokerStars, Betfair and Unibet in operating their business within MGA regulations.

The Malta Gaming Authority is a gambling regulatory organization that provides top-tier industry standard gaming licenses that are in line with EU laws and regulations. With the MGA licenses, FansUnite will…

Read More:Source link