Esports Betting Industry Showing Rapid Growth as Growing Number of States Jump on Board

- Financialnewsmedia.com News Commentary

PALM BEACH, Fla., June 29, 2021 /PRNewswire/ -- The esports betting industry is on course to continue its incredible growth rates and it is showing no sign of slowing down. Even the most conservative estimates have the esports betting industry continuing to see rapid growth through 2025. E-sports betting is primarily a betting activity for the e-sports industry, usually online. Sports betting is the activity of predicting sports results and placing a wager on the outcome. The frequency of sports bet upon varies by culture, with the vast majority of bets being placed on association football, American football, basketball, baseball, hockey, track cycling, auto racing, mixed martial arts, and boxing at both the amateur and professional levels. It took many years for esports to become seen as a serious alternative to traditional sports. But the sheer popularity of esports has seen it become a viable form of entertainment, with many traditional broadcasters such as ESPN and the BBC showing major esports tournaments. Such efforts have been made to harness the many millions of esports fans who watch major events on streaming platforms like Twitch and YouTube Gaming. A recent article in esports News UK (ENUK) said: "With such a large viewing audience, it was only a matter of time before betting sites got involved. While traditional bookmakers were understandably skeptical about the rise of esports, there has now been a wave of fully licensed esports betting sites that now give people an easy way to bet on massive games... Such a large number of esports betting sites have helped many people enjoy a legal and safe way to bet on competitive gaming as a form of entertainment." Active gaming and tech companies in the markets today include: Esports Technologies (NASDAQ: EBET), Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX) (TSX: EGLX), Skillz (NYSE: SKLZ), MGM Resorts International (NYSE: MGM), Super League Gaming (NASDAQ: SLGG).

The article continued: "Some early incarnations of esports were fairly amateurish affairs. In some instances, this led to match-fixing in games like Counter-Strike. Thankfully, such examples are becoming increasingly rare, and there has been the development of regulatory bodies like the Esports Integrity Commission to oversee the standards of competitive gaming. Plus, the fact that esports betting sites only accept real money bets rather than permitting skin gambling has helped the activity enjoy more legitimacy. Skin betting blighted esports betting for many years as it was commonly linked with underage gambling. But with the widespread use of licensed real money betting sites offering esports odds, it is hoped that skin gambling will soon become a thing of the past."

Esports Technologies (NASDAQ: EBET) – BREAKING NEWS - Esports Technologies Joins Russell 3000 and Russell Microcap Indexes -  Esports Technologies, a leading global provider of advanced esports wagering products and technology, has been added to the broad-market Russell 3000 Index and the Russell Microcap Index, effective June 28, 2021.

The 33^rd Annual Russell Reconstitution captures the 4,000 largest U.S. stocks as of May 7, 2021, ranking them by total market capitalization. FTSE Russell determines membership for its Russell US Indexes primarily by objective, market-capitalization rankings, and style attributes.

Aaron Speach, CEO of Esports Technologies, said, "We have been very pleased with the interest Esports Technologies has received from the investor community since our listing on the Nasdaq in April. Being included in the Russell U.S. indexes is yet another validation of our efforts to build shareholder value as we forge ahead changing the face of esports wagering through innovation and world-class analytics powered by our proprietary technology."

Russell Indexes are part of FTSE Russell, a leading global index provider. They are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. According to FTSE Russell, approximately $10.6 trillion in assets are benchmarked to, or invested in, products based on the Russell U.S. Indexes.   CONTINUED…   READ THIS AND MORE NEWS FOR EBET BY VISITING:  https://esportstechnologies.com/news/

In other entertainment and gaming recent news of interest:

Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX) (TSX: EGLX), a media and content platform for video game and esports fans to connect and engage, recently announced it has closed the previously announced acquisition (the "Acquisition") of Tabwire LLC ("Tabwire"), which owns TabStats, for US$11 million in cash and stock.

Upon closing of the Acquisition, the Company made a cash payment of US$5 million and issued 790,094 common shares in the capital of the Company (the "Common Shares") at an agreed value of CAD$9.51 per share, for total share consideration of US$6 million. The Common Shares are subject to a contractual lock-up with 66.66% released twelve (12) months following the closing date, 16.66% released fifteen (15) months following the closing date, and 16.67% released eighteen (18) months following the closing date.

Skillz (NYSE: SKLZ), the leading mobile games platform bringing fair and fun competition to players worldwide, recently announced it has entered into an agreement to acquire Aarki, a leading technology-driven marketing platform. The highly complementary acquisition will broaden Skillz's footprint across the rapidly expanding mobile gaming industry by combining its competitive platform with Aarki's advanced advertising capabilities.

Aarki is a growing demand-side platform (DSP) with global scale and a proven track record in the mobile gaming market. Aarki engages in more than five trillion monthly advertising auctions. The company leverages its robust creative services, rich data engines, and proprietary machine learning algorithms to deliver industry-leading ROI for performance advertisers.

MGM Resorts International (NYSE: MGM) via BetMGM recently announced the expansion of its market-leading sports betting app into Washington, D.C. in partnership with the Washington Nationals, making BetMGM the only mobile sports betting app available at Nationals Park. Today's news is part of BetMGM's multi-year, exclusive partnership with the Washington Nationals, which also includes a retail BetMGM Sportsbook connected to Nationals Park, scheduled to open later this year.

"Launching in Washington, D.C. at Nationals Park sets the stage for our plans to expand BetMGM within the region, as we've already seen great success in Virginia," said Adam Greenblatt, CEO of BetMGM. "The Washington Nationals have been a fantastic partner, committed to innovating the in-stadium fan experience and we're looking forward to opening our retail sportsbook at the stadium later this year."

The BetMGM app is now available for download on both iOS and Android in Washington, D.C. While the app can be accessed throughout the District, due to local restrictions, to successfully place mobile wagers, users will need to be within a two-block radius of Nationals Park. BetMGM's gaming platform will provide Nationals fans a unique opportunity to enhance their game day experience and bring them closer to the action on the field.

Super League Gaming (NASDAQ: SLGG), a global leader in competitive video gaming and esports entertainment for everyday players of all ages, announced recently the integration of Mobcrush's multicasting software solution with the interactive live streaming platform Trovo. This new collaboration enables streamers and content creators to expand their audience on a new and fast-growing destination for live gaming content across the globe.

Recently acquired by Super League, Mobcrush is a leading technology platform that empowers gamers and influencers to reach all of their fans simultaneously across the world's biggest digital video and social media channels. By integrating with Trovo and their 300,000 plus streamers, Mobcrush makes it easy for Trovo users to broadcast to additional destinations and grow their audiences across multiple platforms at the same time.

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