NEW YORK: The U.S sports betting market continues to grow at a rapid pace in large part thanks to a friendlier legal infrastructure that is still developing.
The new wave of states passing friendlier legislation towards sports betting is the direct result of the U.S. Supreme Court decision to overturn PASPA (Professional and Amateur Sports Protection Act) of 1992 back in May 2018. In addition, due to the pandemic, this market has attracted further attention, as online gambling started to rise in popularity and the sports betting segment is a major segment in that industry.
And, according to data provided by Zion Market Research, the sports betting market gathered revenues of about USD 131.1 Billion during 2020 and is slated to earn revenue of approximately USD 179.3 Billion during 2028. FansUnite Entertainment Inc. (OTCQX FUNFF) (CSE FANS), International Game Technology PLC (NYSE IGT), Endeavor Group Holdings, Inc. (NYSE EDR), Caesars Entertainment, Inc. (NASDAQ CZR), Las Vegas Sands (NYSE LVS)
The shift to a more favorable attitude towards online gambling services is visible across the board. According to data published AGC, nearly 7 in 10 (69%) Americans say that gaming provides a positive benefit to the U.S. economy and 63% agree that the industry provides high-quality jobs. Moving forward, as the legal infrastructure continues to become friendlier towards online gambling and sports betting in particular, the trend of partnerships with various leagues and teams across the country is expected to accelerate. When legislatures return in earnest, we firmly believe the number of states ready to consider accelerating mobile sports betting and online gaming legislation to drive tax revenue will expand substantially, said Matt King, CEO of FanDuel, according to ESPN.
FansUnite Entertainment Inc. (OTCQX FUNFF) (CSE FANS) announced yesterday breaking news that, the PGL Major 2021 in Stockholm, Sweden commenced on October 26, 2021 and FansUnite's Brazilian brand, Vamosgg.com (VamosGG) is offering pre-match and in-play wagers for the tournament in Brazil on its betting platform.
On the event's first day, VamosGG experienced a massive surge in site traffic, stemming from the promotion of the betting platform on the Twitch streams and chatbox of VamosGG's partner, Gaules, the top Portuguese-speaking Twitch streamer.1 In the first two days of the Major, VamosGG recorded more than 1,300 new registrants.
As previously announced, FansUnite, in partnership with Gaules, secured the Exclusive Gaming Partner rights for the Brazilian broadcast of this tournament. As a result, the Company will be able to leverage CSGO's massive fanbase in the country and provide wagering services to Brazilian esports fans, all while gaining brand visibility through advertisements and promotions throughout the event. In addition, VamosGG will be sponsoring the exclusive Brazilian broadcast of the event for the Gaules.tv community.
'The PGL Major in Stockholm is the largest CSGO tournament of the year and will be hugely popular, especially in Brazil where we have secured Exclusive Gaming Partner rights for the event,' said Scott Burton, CEO of FansUnite. 'Brazil has a massive population and a large gaming community that is passionate about esports, resulting in lucrative opportunities that we can capitalize on among Brazilian esports bettors through VamosGG. Having over 1,300 new users register on VamosGG in the first two days is an outstanding return on our investment in the event.' (PRN/2 days ago) https://www.newkerala.com/business-world-news.php
