Bringing Your Sportsbook Into the Future
This FansUnite profile is part of a paid investor education campaign.*
FansUnite (CSE:FANS,OTCQB:FUNFF) is a sports and entertainment technology company developing new and innovative solutions in sports gambling and the online casino space. The company is working to revolutionize the sports gambling industry by improving the platforms and systems that provide betting options to both users and businesses.
FansUnite is currently pursuing a multi-pronged strategy of client acquisition and growth through business-to-business (B2B) services, business-to-consumer (B2C) offerings and company acquisitions, including the company’s latest asset, McBookie. In May 2020, FansUnite announced the acquisition of Scottish gambling house and sportsbook McBookie for C$2.2 million.
McBookie is a white label sportsbook that has provided gambling services in the United Kingdom for over 10 years with a focus on B2C offerings in Scotland. The company’s two most popular betting markets are football (soccer) and horse racing. In addition to these markets, McBookie also offers a digital casino and virtual sport offerings. McBookie is home to over 200,000 registered members and has over $100 million in wagers over the last three years.
In addition to its growing European operations, the FansUnite Media platform enables gamers from around the world to interact on a social sports betting platform using a free virtual currency. The platform is home to over 30,000 members who can place virtual bets on all of the major sports around the world while staying up to date with other users. FansUnite Media offers a premium subscription in addition to affiliate revenue opportunities. The company intends to leverage FansUnite Media as a user-friendly digital platform that can act as a pipeline for real-money players, especially those seeking new betting opportunities during the current sports pause.
FansUnite is also developing the FansUnite Sportsbook, an online betting platform incorporating smart contracts on the Ethereum blockchain that is currently in open beta. The company intends to offer its sportsbook as a B2C service while licensing its technology to B2B operators around the world through fiat, digital currency and a full smart-contract solution. The FansUnite Sportsbook relies on Betradar odds, bet resolution and risk management in order to provide optimal functionality while maintaining a house edge. FansUnite intends to embed its own rake into all odds offered through the platform, taking a small fee for all bets placed.
The company acquired Askott Entertainment, a B2B and B2C esports and online gaming company, in August 2020, which created the iGaming platform Chameleon. Chameleon blends together gamification, personalization and live engagement best practices for a state-of-the-art platform for online gamers.
On the heels of the acquisition of Askott Entertainment, FansUnite entered into a partnership with Pinnacle Solutions which will integrate Pinnacle’s esports data and odds feed into the Chameleon Gaming Platform.
While the COVID-19 pandemic has halted professional sports leagues around the world, FanUnite is optimistic it will be able to continue to grow its operations in preparation for professional sports resuming play sometime in 2020. According to Grand View Research, the global online gambling market is projected to grow at a compound annual growth rate (CAGR) of 11.5 percent from 2019 to 2025, reaching US$102.97 billion by the year 2025. The ease of access enabled by smartphones and new forms of digital technology are expected to help drive this growth as companies including FansUnite provide new options for the online gaming industry.
FansUnite’s Company Highlights
- FansUnite Sportsbook targets the growing online sports gambling market, which is projected to reach US$102.97 billion by 2025.
- Pursuing an M&A strategy to grow the FansUnite brand and business model, as shown by the recent acquisition of McBookie
- McBookie hosts over 200,000 registered members and has handled over $100 million in wagers over the last three years
- FansUnite social betting platform is home to over 30,000 members
- FansUnite Sportsbook leverages smart contracts handled on the Ethereum blockchain to route transactions and maintain an immutable ledger
- FansUnite B2B services provide independent operators the opportunity to improve on legacy gambling software, enabling new market potential
- Subsidiary Askott Entertainment has developed the Chameleon iGaming platform, which was shortlisted for the 2020 EGR B2B Awards for Esports Betting Supplier of the Year
- The company entered into a partnership with Pinnacle Solutions in October 2020 to implement Pinnacle’s esports data and odds feed into the company’s Chameleon iGaming Platform
- By being granted both a B2C and B2B license in Malta, FansUnite can now offer a full spectrum of online gambling services in Europe, covering Casino, Fixed Odds Betting, Pool Betting and Controlled Skilled Games
On March 26, 2020 FansUnite acquired McBookie, a leading Scottish gambling provider with a track record of success in the football (soccer) and horse racing markets. McBookie is a white label sportsbook with over 10 years of experience in B2C offerings in Scotland. The company is home to over 200,000 members and has placed over $100 million in wagers over the last three years.
In addition to its sports gambling offerings, McBookie also offers a digital casino platform along with virtual sports gambling markets. While the company intends to focus on its success in the sports gambling market, the unique market conditions provided the company the opportunity to develop its virtual sports services to meet the sudden rise in demand as traditional sports fans seek new forms of entertainment.
FansUnite B2C SportsBook
The FansUnite sportsbook, which is currently in open beta, is a digital platform allowing users to gamble on a variety of major sports markets including the National Football League (NFL), the National Hockey League (NHL), the National Basketball Association (NBA), Major League Baseball (MLB), the UEFA Champions League and the major European football leagues. The FansUnite sportsbook offers users with both pre-match and in-play odds to maximize the potential markets available to players.
The FansUnite sportsbook relies on Betradar’s oddsmaking, resolution, and risk management system in order to maintain smooth operations. The platform uses smart contracts run on the Ethereum blockchain in addition to a stable coin in order to provide an immutable record of the transactions conducted on the platform.
Through BetMaker Labs, FansUnite is working to leverage its proprietary technology in order to enable independent operators within the gambling space to improve the platforms and services they offer. FansUnite’s business model involves working with sportsbook and data providers around the world to expand its offerings while improving the technological capabilities of their partners. FansUnite is currently partnered with companies in the gambling sector including payment processors, data providers and compliance.
Taking a “Sports Betting as a Service” approach, FansUnite intends to offer front end and back end software solutions for gambling companies, including Know Your Customer (KYC) and Anti-Money Laundering (AML) services, risk management protection options, and seamless payment gateways using either FIAT currencies or cryptocurrencies.
FansUnite’s Askott Entertainment
In August 2020 FansUnite finalized the acquisition of Askott Entertainment, a B2B and B2C leader in the esports and online gaming industry. The company has developed an iGaming platform, Chameleon, that has been designed to be easily integrated into any software ecosystem. Chameleon was designed to combine the best practices of gamification, personalization and live engagement to provide a state-of-the-art platform that caters to the needs of the next generation of gamers.
With a focus on sports betting and digital casino games, Askott Entertainment’s Chameleon platform offers pre-match betting, in-play betting, daily fantasy contests, content and a certified RNG to produce casino-style chance games. In an effort to expand its offerings, Askott Entertainment has partnered with gaming company The Ear Platform to integrate its Casino Aggregator hub onto Askott’s Chameleon Gaming Platform. The integration provides The Ear’s Casino Hub with over 6,000 casino games through a single integration.
Askott Entertainment’s Chameleon iGaming platform was shortlisted for the 2020 EGR B2B Awards for Esports Betting Supplier of the Year.
The company announced in October 2020 that it had entered into a partnership with Pinnacle Solutions that will implement Pinnacle’s esports data and odds feed into the Chameleon iGaming platform. FansUnite also gains access to Pinnacle’s partnership with GRID Esports and its contracts with esports leagues and tournaments. The partnership with Pinnacle Solutions will give FansUnite a unique opportunity to offer the best odds on esports bets on its Chameleon Gaming platform. Additionally, this partnership will give FansUnite a leg up over other turnkey B2B esports betting products.
In September 2020 Askott Entertainment announced a partnership agreement with Las Vegas-based GameCo LLC, a pioneer in skill-based iGaming products, in order to expand its offerings into legal and regulated US markets. GameCo holds licenses in over 30 jurisdictions across the United States which Askott Entertainment intends to leverage by naming GameCo the official reseller of the Chameleon esports betting platform to new and existing partners, specifically those in the United States.
FansUnite’s Management Team
Scott Burton, Chief Executive Officer
Scott has been a pioneer in the esports wagering industry since its inception, presenting at keynotes, panels, and seminars at betting conferences around the world. In 2012, he co-founded Tedbets.com, an award-winning peer-to-peer wagering platform (2014 ‘Game to Watch’ – ICE). As CEO of Askott Entertainment, Scott has successfully secured and controlled multiple gaming licenses in several jurisdictions. He is a designated accountant with 20+ years of operational experience.
Darius Eghdami, President
A Chartered Accountant by trade, Darius has been involved in the sports betting industry since 2009. Darius previously founded and/or led successful businesses in digital, data analytics and consumer internet. Darius has extensive experience managing start-ups, raising capital, developing overall vision and business framework. Darius was recently named Canada’s Next 150 Top Entrepreneurs by the TMX Group.
Jeremy Hutchings, Chief Technical Officer
Jeremy is a Co-Founder of Askott Entertainment. A veteran CTO, product owner and proven solutions architect who has continuously strived for growth and learning. He brings over 25 years of experience in leadership, systems architecture, software & product development and process improvement to Askott. Jeremy has held leadership and senior roles at both large multinational organizations and successful startups including Lockheed Martin, Cable & Wireless, CBS and MetroLyrics.
Ian Winter, COO
After managing a corporate banking technology portfolio at Scotia Capital, Ian served as COO of Yummy Interactive, a Vancouver-based developer and aggregator of solutions for the secure deployment of PC games. In 2007, he was one of the co-founders of MMX Software, the backbone of one of the world’s leading online poker networks. In 2012, Ian became the CEO at Jetpack Interactive, building long-term relationships with EA, Amazon, and Sony. Ian joined Askott in 2019 to bolster the management team and help position the company for growth. He holds an MBA from the University of British Columbia.
Graeme Moore, CFO
Graeme is a Chartered Accountant and Masters of Professional Accounting. He has experience transforming and scaling finance departments to full-cycle accounting, financial analysis, financial reporting, and internal controls. Graeme is a business-oriented financial partner to the CEO, providing leadership and strategic guidance to translate corporate vision into business success. At his previous position, he was instrumental in scaling the company to 3x revenues and a 300% growth in headcount.
Saxon Shadforth, Head of Growth
Saxon has over 25 years’ experience in the gaming and marketing industry, and has served as an online gambling executive for the last 14 of those years where he has worked on consumer hardware/software, enterprise software, infrastructure, product strategy and delivery. Saxon brings diverse experience to the Board, having worked and lived in North America, Asia Pacific, Europe and Latin America and having worked with global gaming brands.
Harish Narayan, Director
Harish has extensive experience in the gaming industry, highlighted by his previous role as President of Paddy Power Betfair Asia, one of the largest gaming companies in the world. In addition, Harish has served as a key consultant to numerous gaming industry leaders expanding their global operations through B2B partnerships with regulated and state-owned operators in Asia, establishing government relationships, and attracting licensed B2C operators. As a specialist in strategic M&A, he structured, advised, and facilitated the global strategy and direction on numerous M&A transactions in the online gaming market.
Chris Grove, Director
Chris is a Managing Partner at the Sports Gaming Investment Fund and Partner at Eilers & Krejcik Gaming. He is a nationally-recognized gambling industry expert focused on market and policy forecasting. His insights are regularly cited by lawmakers, analysts, and mainstream media including ESPN, Bloomberg, the New York Times, and the Wall Street Journal. Chris has also founded and sold multiple online gambling affiliate networks, including the largest known exit in the regulated U.S. market.
James Keane, Director
James is a pioneer in the online gaming space holding senior executive roles for the past 20 years. As a founding member of the ParadisePoker.com team, he helped it grow into one of the top 3 poker sites in the world. He oversaw the acquisition of Paradise to Sportingbet in 2005 and remained with them as a Managing Director focused on emerging markets. James is currently the CEO of a social casino games developer.
*Disclaimer: This profile is sponsored by FansUnite (CSE:FANS). This profile provides information which was sourced by the Investing News Network (INN) and approved by FansUnite, in order to help investors learn more about the company. FansUnite is a client of INN. The company’s campaign fees pay for INN to create and update this profile.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with FansUnite and seek advice from a qualified investment advisor.