Bringing Your Sportsbook Into the Future
This FansUnite profile is part of a paid investor education campaign.*
FansUnite (CSE:FANS) 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.
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
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 Management Team
Darius Eghdami, CEO, Director
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.
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.
Duncan McIntrye, COO, Director
Duncan is a co-founder of FansUnite and is a practicing lawyer seasoned in mergers, acquisitions and other corporate matters. He has substantial involvement in product development, overseeing daily operations and business development. Duncan has 10+ years experience in the sports betting and data analytics industry.
Shafin Diamond, Director
Shafin has been the CEO of Victory Square since 2015, a venture builder that builds start-ups in web, mobile, gaming, AI, and AR/VR. He has launched 40 start-ups in 24 countries, employed more than 350 people, and has generated over $100-million in annual revenues. He has received numerous awards, including the BC Tech Person of the Year Award, BC Angel Investor of the Year in 2014, and Business in Vancouver’s Top 40 under 40.
Saxon Shadforth, Director
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 Narayanan Ramachandran, Director
Harish has extensive experience in the gaming industry, highlighted by his role as President of Paddy Power BetFair Asia, from March 2013 to May 2017. In addition, Harish has served as a key consultant to numerous gaming industry leaders during his time as Managing Director of Leading Tip, a role he has held since 2009. Harish’s focus with Leading Tip has been on mergers and acquisitions, consolidations, fundraising, and corporate structuring.
*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.