Audience Reach Climbs to 98% of Total Legal Online Sports Betting Markets
MINNEAPOLIS, MN / ACCESSWIRE / October 26, 2022 / SharpLink Gaming Ltd. (NASDAQ:SBET) ("SharpLink" or the "Company"), a pioneer of targeted, data-driven user engagement and conversion solutions for the U.S. sports betting and iGaming industries, today announced that the Company's state regulatory initiatives have resulted in SharpLink being licensed and/or authorized to operate in 21 U.S. states, the District of Columbia and Ontario, Canada. In association with its regulatory compliance efforts, the Company has also formed direct affiliate marketing partnerships with virtually every major sportsbook legally operating in the U.S., including BetMGM, DraftKings, Caesars, Fan Duel, Bet365, Tipico, Unibet and WynnBet, among others.
Rob Phythian, Co-Founder and Chief Executive Officer of SharpLink stated, "Pursuing authorization to legally operate in states that have approved online sports betting has been paramount to our Company achieving our ultimate aim of becoming the preferred gamification, conversion technology and online marketing partner to sports media operators, teams, leagues and sportsbooks in the United States and Canada. We believe that the achievement of this major milestone, earlier than initially anticipated, has the potential to accelerate our long-term growth strategy."
Based on results published by Legal Sports Report for the month of August, 2022 - the last month providing a near full accounting of handles reported by states which have legalized online sports betting, SharpLink is now cleared to reach approximately 98% of the total legal sports betting market in North America through its sports betting conversion technologies and affiliate marketing relationships. Gaming Today, which also tracks monthly U.S. sports betting revenue, reported that for the month of August, 2022, in every state that has mobile sports betting, mobile betting was the preferred choice over its brick and mortar counterpart. In most markets, more than 70% of sports betting was done online; and for markets where mobile is heavily favored, like New York and New Jersey, over 90% of betting was conducted online.
Phythian added, "Our previously announced acquisition of SportsHub, which is subject to the approval of our shareholders, will give SharpLink access to a large and loyal base of fantasy sports fans and a thriving ecosystem of cash players. Based on studies that confirm fantasy sports fans who reside in legal states are also becoming enthusiastic online sports bettors, we believe there is an opportunity for SharpLink to seamlessly integrate compelling sportsbook offers within all aspects of the user experience, thus driving potentially greater growth for our Company in the future."
About SharpLink Gaming Ltd.
Founded in 2019 and based in Minneapolis, Minnesota, SharpLink is a leading online technology company that connects sports fans, leagues and sports websites to relevant and timely sports betting and iGaming content. SharpLink uses proprietary, intelligent, online conversion technology to convert sports fans into sports bettors for licensed, online sportsbook operators. SharpLink's intelligent C4 Sports Betting Conversion technology delivers and determines the best sportsbook betting offers and experience for each identified user. Using sophisticated, behavioral modeling and tracking technologies, and by analyzing user's past and present behaviors, we serve sports fans with personalized betting offers specifically tied to each fan's favorite sports, teams and players. Additionally, SharpLink specializes in helping sports media companies develop strategies, products and innovative solutions to drive deep customer engagement with highly interactive sports games and mobile applications. SharpLink is run by industry veterans with several successful exits in the sports gaming and iGaming sectors. For more information, please visit the SharpLink website at www.sharplink.com.
This release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's intention to acquire SportsHub Games Network subject to shareholder approval, expected growth in the online betting industry, the Company's ability to grow its business, the potential benefits of the Company's products, services and technologies and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's shareholders voting to not approve the acquisition of SportsHub Games Network, the Company's ability to achieve profitable operations, government regulation of online betting, customer acceptance of new products and services, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries in which we operate on our operations, the demand for our products and our customers' economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company and its competitors, general economic conditions and other risk factors detailed in the Company's annual report and other filings with the United States Securities and Exchange Commission. The Company does not undertake any responsibility to update the forward-looking statements in this release.
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SharpLink Gaming Ltd. Hot Paper Lantern
Dodi Handy, Director of Communications Michael Adorno, Vice President, Communications
Phone: 407-960-4636 Phone: 212-931-6143
Email: [email protected] Email: [email protected]
SOURCE: SharpLink Gaming Ltd.