Of course, while it would be nice if we could just build it and watch them come, the reality is that things never work that way. Here’s How FansUnite Is Securing its Future Customer Flows In Q1 2022, the company set a new revenue record of CAD$9.7 million - an 804% YoY increase over the same period last year and (more impressively) a 72% bump over its total revenue for all of 2021. The net result of this adaptability is that FansUnite’s financial results are stellar. Here the sportsbook operator will be able to offer its products both directly to consumers, and as white-label solutions in B2B partnerships with industry peers. To this end, FansUnite has become licensed as a gaming supplier in Ontario, Canada, and received multiple licenses in the United Kingdom. The same adaptability to US state jurisdictions also allows it to expand internationally, and be easily white-labeled in licensing agreements with other operators. betting bet sport phone gamble laptop over shoulder soccer live home website concept – stock image There’s More to Love in FansUnite’s Chameleon PlatformįansUnite Entertainment’s agile Chameleon platform does much more than just unlocking the entire US sports betting market. But a modular system like FansUnite’s proprietary Chameleon platform reduces these changes to discrete replacements of small modules. If the whole system was built as one giant monolith, as many legacy systems were, untangling things is often more complicated than creating it from scratch again. This obviously has the potential to become a nightmare. SEE ALSO How other countries can benefit from Canada’s hemp oversupply amid fast increasing demand This means operators often need to implement custom business logic for every state. Instead, there’s a Colorado market, a New Hampshire market, an Oregon market, etc., etc. With each state in the United States holding jurisdiction over sports betting activity within its borders, the reality on the ground for operators is that there is no single US sports betting market.
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That’s why we built ours in a scalable way, with various components that we can pull out and update as necessary.”Īs Eghdami notes, the adaptability of a sportsbook platform is critical here. It’s very hard for them to update and keep all their clients updated. This is especially true for legacy gaming operators.įansUnite Entertainment’s Darius Eghdami said, “In general, gaming-industry incumbents are on what we call legacy technology. With a new era of online sports betting set to dominate the landscape, technology is a major barrier. While the US sports betting market is indeed booming, not every company is positioned to capitalize on it. Fast-Moving Industries Demand Fast-Moving Companies Now it is potentially every single sports fan who’s attained the legal betting age in their state. No longer is it limited to those who could attend specified physical locations. In other words, the total addressable sports bet market has exploded. – Darius Eghdami, President of FansUnite Entertainment Inc. Now, people know they can play like they’re at the casino, and do sports betting on their mobile phone, without having to go into a brick-and-mortar casino.” This unprecedented level of convenience means that today’s sports better can place a bet with little more than the swipe of a thumb, all whilst playing grill-master at a Superbowl barbeque. Once confined to the walls of casinos and other bricks-and-mortar outlets, sports betting is now entering people’s homes worldwide. If we compare the state of sports betting today with that of the pre-Bradley Act era, there is one massive difference - the evolution of the internet and mobile, in particular. Why Sports Betting’s Tipped to Grow Bigger than Ever Naturally, this has investors turning their attention to companies like FansUnite Entertainment Inc. Now, with the US sports betting market in a state of rapid growth and development, a wise bet today could pay off big time in the blink of an eye. Legislation is already pending in four states, and the remaining 11 could have legislation in place by 2024. But today, more than half of the other states have followed, with most legalizing online sports betting instead of or in addition to in-person retail betting.Īnd many more are also continuing to follow. In the early months following the Supreme Court decision, only Delaware, New Jersey, and Mississippi initially started accepting sports bets. Then, when the US Supreme Court overturned it in 2018, they reopened the floodgates on a market that’s already produced over $125 billion in revenues in just a few short years.Īnd that figure is only continuing to grow.
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When the Professional and Amateur Sports Protection Act of 1992 (“PASPA” or the “Bradley Act”) came into force, it effectively shut down the entire US sports betting industry.
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