Elys Game Technology Partners With Minority Owned All Bets Inc. To Expand Washington, D.C. Operations

Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq:ELYS) (BER:3UW), an interactive gaming and sports betting technology company, announced today a partnership with All Bets Inc. to establish allBETS DC One (“allBETS DC”) and operate a sportsbook planned to open at 821 Upshur St. NW, in Washington, D.C. The Company’s subsidiary, USBookmaking (“USB”), will provide sport wagering services to manage the sportsbook risk and provide trading services.

Following the successful launch of Grand Central Restaurant and Sportsbook, in the Adams Morgan area, and with the Cloakroom DC currently in regulatory review, the partnership with allBETS DC would represent the Company’s third implementation of its strategy to offer a turn-key sportsbook solution in non-conventional locations such as restaurant and bar venues in Washington, DC. And, if awarded a license, allBETS DC is believed to be a groundbreaking venture by an African-American woman owned sports wagering business.

“We are delighted to join forces with the team at allBETS DC, led by pioneering entrepreneur Stacie Whisonant and are quite honored to support minority owned enterprises and women run sportsbooks as we continue our coast-to-coast expansion focused on North America,” stated Michele Ciavarella, Elys Executive Chairman. “We firmly believe that the unique architecture of our technology gives us an effective, one-of-a-kind sportsbook solution to deploy in small businesses such as restaurants, bars, coffee shops, and other similar establishments. Our solution could drive ancillary revenue streams, employment opportunities and could foster complimentary activity where restaurants and bars across the country can leverage existing customer relationships and offer a sportsbook product that their customers desire. Elys encourages diversity in sports wagering opportunities and believes that allBETS DC could potentially be a forerunner for success and a role model for aspiring entrepreneurs to follow this progression.”

“This journey, that started for me in 2018, included many days of endless research and became a reality in the spring of 2022. I am proud to partner with Elys/USB, and along with the community business framework provided by DCOLG and DSLDB in Washington, this agreement structure allowed me the opportunity to enter into and embark upon the Class B model sports wagering industry with the comfort of training wheels,” Stacie Whisonant, CVO/Founder of allBETS. “I am excited and grateful for this momentous opportunity, but I was also anxious about the possibilities. My confidence has been reassured by partnering with the professionals at Elys/USB in that they could provide the support that's needed to ensure the overall success and expansion of our allBETS business relationships.”

About All Bets Inc.

All Bets Inc, founded by Stacie Whisonant, is a boutique consulting firm focusing on strategic diversity, equity & inclusion (DEI) and digital transformations through a borderless high-tech social betting platform. All Bets works on high growth and emerging industries ensuring that we bring the diversity edge into these new sectors. The organization is proudly female-centric and invite women to engage, learn and enjoy in the betting space in a “Learn and Earn” model. The goal for All Bets is to become the first female, African American and veteran-owned sports betting operation in the U.S. connecting women and minority run businesses across the nation.

Follow allBETS on Twitter @allbetsHQ

About Elys Game Technology, Corp.

Elys Game Technology, Corp., is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. Elys offers its clients a full suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games and slots in Italy and has operations in five states as well as the District of Columbia in the U.S. market. Elys’ vision is to become a global leader in the gaming industry through the development of pioneering and innovative technology.

The Company provides wagering solutions, services online operators, casinos, retail betting establishments and franchise distribution networks. Additional information is available on our corporate website at www.elysgame.com.

Investors may also find us on Twitter @ELYS_gaming.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements and include statements regarding planned sportsbook operations at 821 Upshur St NW, in Washington D.C, the Company’s third implementation of its strategy to offer a turn-key sportsbook solution in non-conventional locations, a groundbreaking venture by an African-American woman owned sports wagering business, the unique architecture of our technology giving us an effective, one-of-a-kind sportsbook solution, ancillary revenue streams, employment opportunities and fostering complimentary activity, allBETS could potentially being a forerunner for success, and providing support that's needed to ensure the overall success and expansion of allBETS business. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to open sportsbook operations at 821 Upshur St NW, in Washington D.C. as planned, the Company’s ability to implement the third turn-key sportsbook solution in non-conventional locations as anticipated, the possibility of an African-American woman owned sports wagering business to be groundbreaking as believed, the ability of the Company’s unique technology architecture to give an effective, one-of-a-kind sportsbook solution as believed, the ability of the Company’s solution to drive ancillary revenue streams, employment opportunities and foster complimentary activity as expected, the ability for allBETS to potentially be a forerunner for success as expected, the Company’s ability to provide the support that's needed to ensure the overall success and expansion of allBETS business as expected, the duration and scope of the COVID-19 outbreak worldwide, including the impact to state and local economies, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its subsequent filings with the U.S. Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.

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