A Growing Support for Sports Betting Accelerates the Market’s Expansion

NEW YORK, Oct. 27, 2021 /PRNewswire/ — The sports betting market in the United States is now in growth mode. According to data provided by Ark Invest, the U.S. sports betting market will hit an estimated USD 37 Billion valuation by 2025, a significant jump from its current USD 9.5 Billion value. This year, there were several announcements from numerous states across the country which have indicated that the U.S. is becoming friendlier to these kinds of services. For example, a Massachusetts House lawmakers have recently approved a bill to legalize sports betting in the state. And while its fate in the Senate is still uncertain, the state House of Representatives voted 156-3 on Thursday night to approve the measure, according to The Boston Globe. FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS), Boyd Gaming Corporation (NYSE: BYD), Churchill Downs Incorporated (NASDAQ: CHDN), DraftKings Inc. (NASDAQ: DKNG), Wynn Resorts Ltd. (NASDAQ: WYNN)

According to a report from the Associated Press, Keith Gormley, Head of U.S. Marketing for Tipico, 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) just announced breaking news that, “the Company has signed a strategic agreement with Sportradar Group AG (NASDAQ: SRAD) (“Sportradar”), the leading global sports technology company creating immersive experiences for sports fans and bettors.

Under the agreement, Sportradar will provide its Managed Trading Service to FansUnite, which includes pre-match betting services, live odds, and betting stimulation services. Sportradar’s range of offerings will permit the Company to deliver an array of odds on some of the world’s premier sports and sporting events as well as register end-users and settle tickets.

Additionally, the partnership will enable FansUnite’s sportsbook to feature online visualizations and obtain a full-administrative back-office to assist with betting operations.

“The partnership enables us to receive the best-in-class trading solutions from renowned sports data provider Sportradar, which will elevate the quality of our betting offering,” said Scott Burton, CEO of FansUnite. “We will be able to provide optimal real-time odds, adding more value to our wagering platform. Overall, our proprietary technology equipped with Sportradar’s services will create a competitive betting solution that appeals to B2B customers in the global sports betting industry.”

Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group announced earlier this year plans to launch Stardust-branded online casinos in New Jersey and Pennsylvania, marking the iconic gaming brand’s return to real-money gaming.  Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: “For nearly 50 years, the Stardust was one of the most famous casinos on the Las Vegas Strip.  And while the resort has been gone for more than a decade, the Stardust brand is still as well-known and popular as ever.  We are excited to work with our partners at FanDuel to launch our first real-money online casinos and are confident this legendary brand will give us a significant advantage in connecting with players looking for a distinctive online gaming experience.”

Churchill Downs Incorporated (NASDAQ: CHDN) announced last month plans to open a new historical racing machine (“HRM”) entertainment venue, Derby City Gaming Downtown, in Louisville, Kentucky. The 43,000-square-foot entertainment venue will be located at 140 South 4th Street, at the corner of South 4th and West Market, diagonal to the Kentucky International Convention Center.  “CDI is committed to investing in the city of Louisville and today we are particularly excited to announce this new downtown entertainment venue,” said Bill Carstanjen, CEO of CDI. “Our HRM expansion will be a win for the entire community in the Louisville area and will create $10 to $12 million per year in additional purse money for Churchill Downs Racetrack. It is important that Louisville is a city that is thriving — a great place to live, work and visit and we are committed to helping create economic vibrancy for every area of our community. The West End Opportunity Partnership and our collaboration with OneWest can help us responsibly and sustainably achieve that vision.”

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.”

Wynn Resorts Ltd. (NASDAQ: WYNN), online gaming division WynnBET announced earlier this year a multi-year content marketing and affiliate partnership with leading global technology and digital publishing platform, Minute Media, owner, and operator of six global sports and culture brands including The Players’ Tribune, FanSided, 90min, and The Big Lead. Under the deal, WynnBET will tap into Minute Media’s diverse network of owned brands, media personalities, athlete influencers, and open technology platform to create story-driven content that introduces WynnBET to an average of 60 million monthly users in the United States. “Minute Media creates and publishes high quality sports-related content, much of it to avid local audiences, and we are excited about the opportunity to introduce WynnBET to them,” said Craig Billings, President of Wynn Resorts. “We also look forward to leveraging our partnership with Minute Media to jointly create compelling new content for distribution through our combined properties.”

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