Addition of iFrame esports betting to round out EEG's end-to-end
B2C esports betting and iGaming offerings
Product offering lineup slated to include betting markets for all major esports events as well as markets on short-cycle wagerable events, with more to follow
St. Julians, Malta--(Newsfile Corp. - October 5, 2023) - Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLP) (NASDAQ: GMBLW) (NASDAQ: GMBLZ) (the "Company" or "EEG") today announced a partnership with Oddin.gg, an industry-leading, esports betting solution provider, whereby the Company will integrate Oddin.gg's iFrame solution to supply betting lines for its bettors. The launch, subject to the final approval of the Malta Gaming Authority, is targeted for Q1 2024.
Oddin.gg's iFrame solution, which has received numerous industry awards, including the recent SBC Award: Esports Supplier of the Year, provides the Company with a cutting-edge solution for both popular AAA esport titles as well as short-cycle wagering content for its online casino brands. Adding Oddin.gg's esports solution will complete the Company's buildout of its business-to-consumer (B2C) esports wagering and iGaming ecosystem, following the recent addition of a leading sportsbook solution.
Alex Igelman, Chief Executive Officer of Esports Entertainment Group, commented, "Expanding our partnership with Oddin.gg marks a significant step forward for EEG as it will allow us to provide betting markets on traditional esports events, such as seasonal, big-name events, annual esports tournaments, and short-cycle wagerable events. Unlike other esports odds providers, Oddin.gg leverages their proprietary statistical models and unique algorithms that, when merged with their deep knowledge of game dynamics and player preferences, provide a best-in-class user experience. In addition, the system can predict event outcomes during gameplay and enables live markets within the game. We look forward to launching the new offerings that will complement our recently announced Delasports betting platform integration."
"The combination of our proprietary Idefix iGaming platform, the recent addition of a new sportsbook provider, and now Oddin.gg's esports betting product, provides what we believe will be an unparalleled, end-to-end iGaming and esports betting experience. We believe this offering will place us at the forefront of the esports wagering market, which is experiencing rapid growth worldwide. In the U.S. alone, it is estimated that the total addressable market for esports betting is $13.7 billion, with forecasts suggesting it could reach up to $29.3 billion by 2025. Moreover, the addition of Oddin.gg's iFrame supports our global expansion strategies, given their presence in Australia, Europe, South America, Africa, Asia and most recently, the U.S. Importantly, we remain committed to the highest level of gaming integrity standards and audit protocols to ensure that the generated content meets strict regulatory requirements applicable to wagering on skill-based content. Overall, we could not be more excited by the outlook for the business."
Vlastimil Venclik, CEO and Co-founder at Oddin.gg, stated, "Oddin.gg is profoundly excited to forge this partnership with EEG. Witnessing the strides EEG has made in the esports arena, our collaboration promises to be a significant leap towards creating a superior betting ecosystem. EEG's commitment to innovation and excellence aligns perfectly with our values, and integrating our award-winning iFrame solution is a testament to EEG's dedication to their clientele. As we embark on this journey, it's clear that EEG's visionary approach will undoubtedly shape the future of esports betting. We're privileged to be part of this momentous venture with EEG."
Oddin.gg is a B2B provider of esports odds feeds, risk management and iFrame solutions, and is the number one B2B choice for esports betting, enabling the growth of its partners through its end-to-end esports betting ecosystem. The Company's partners can take advantage of its multi-award winning esports odds feed, risk management, iFrame solution, widgets, 24/7 content, and marketing services. The Company maximizes its partners' profitability by combining machine learning algorithms with advanced data science. Oddin.gg powers solutions for Betway, Yolo Group, LOOT.BET, Aspire Global, Altenar, Softswiss, and many more sportsbook and platform providers on a global scale.
About Esports Entertainment Group
Esports Entertainment Group is a global MGA-licensed, "esports-focused" iGaming B2C operator and a US-focused B2B provider of esports solutions. The Company owns and operates the world's leading esport venue management system, currently deployed in over 800 global locations, including more than 100 colleges and universities. The Company's strategy is to capitalize on the multi-billion-dollar market for esports and esports wagering by leveraging its leading position in the industry. The Company is also targeting the rapidly growing market for short-form esports wagerable content, which features competitive, short-cycle head-to-head leagues that are optimized for betting. In addition to its plans to distribute esports content, the Company currently provides B2C-focused wagering through its MGA-licensed suite of brands. For additional information about the Company, please visit www.esportsentertainmentgroup.com.
The information contained herein includes forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "will be," "will continue," "will likely result," and similar expressions. These statements relate to future events or to our strategies, targeted markets, and future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements, including the Center serving as a hub for competitive gaming communities, bringing together the brightest minds from all stakeholders to develop bespoke software and hardware solutions that equip both students and educators to thrive in the digital age. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and those discussed in other documents we file with the SEC, including our ability to maintain compliance with Nasdaq Listing Rules and stay listed on Nasdaq, our obligations under our preferred stock outstanding, and our ability to continue as a going concern. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future, unless required by law. The safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of such Act.
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