Bringing Your Sportsbook Into the Future
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