During the pandemic, the global gaming world is shifting. Esports is coming out strong in the face of in-person venue shutdowns. The digital sector may win the day, especially in combatting fraud and money laundering.
Scott Burton, CEO of FansUnite Entertainment is one of the most optimistic player in the field. He runs the online gambling company by focusing on casino gaming and sports in underserved markets.
“We come at this from a strong technical side. A lot of gaming companies
operate as brands but don’t own the technology. We wanted to build
the technology side, own the technology and license that to other operators.”
Of note, FansUnite has been expanding by gaining licenses in Europe. It has a strong hold in the U.S., Scotland and Brazil and has been partnering with established companies. Now is the time to launch online casino games and tap into esports and virtual horse racing. Next comes licensing in Europe and Malta.
Players seek an interactive experience while quarantined at home. They are moving toward online poker and other card tables with a live dealer. This is happening due to a partnership with The Ear Platform that has about 6,000 online casino games in its inventory. More than 120 gaming sites will integrate with FansUnite.
In addition the company is partnering with GameCo to create the first esports sportsbook in the U.S. with the Sky Ute Casino in Colorado. It is a part of the growth plan in place.
Find out more on Esports Gambling at Google Sites.
The Canadian picture
What are the prospects for Canada? Burton explains,
“Some of the Canadian talk to change rules and open up online
gaming to outside operators is partly driven by COVID. In
North America, we see nothing but growth after the pandemic.”
According to the Canadian Gaming Association, the annual spend on gambling in the country alone is already at $13 billion. (The U.S. and European markets are larger.)
Then there is Malta
FansUnite has received approval from the Malta Gaming Authority (MGA) for Gaming Service and Critical Gaming Supply licenses. Now it can offer online casino games, fixed odds betting and controlled skills games across Europe. They can further white label their technology.
With their MGA licenses, FansUnite will garner credibility as a trusted betting platform supplier and casino operator in Europe. The company is poised to gain significant recognition in the online gambling sector overall.
Underserved markets will generate business
FansUnite has already been focused on the many underserved markets. It will offer its own technology platform. In fact Their McBookie service offers online gaming in Scotland for locally popular sports.
With sports declining during the pandemic, they are adding new online casino games, virtual sports and casino games with live dealers. In Burtons words,
“Not many people are looking at just Scotland. We can go in
and be the most dominant sportsbook in Scotland.”
Brazil is another country with its own needs so adjustments will be made for the Portuguese language and appropriate payment methods.
It is all about technology
Robust technology supporting a strong gaming experience. It must work for diverse local interests and languages while meeting local regulations.
Building their own technology platform has allowed FansUnite to rapidly adjust to various jurisdictions, without having to pay for licensing their platform. They can offer the same platform to other gaming brands as a white-labelled solution.
Such a solution is called the Chameleon Gaming Platform. Is the technology foundation for other gaming brands in the areas of fixed odds betting, online casino gaming, sports betting and fantasy sports.
“One of the beauties of our model is that we get a monthly license
fee from our partners, and then we share in the upside of that.”
The issue payment reigns supreme. Every country has its particular preference in terms of bank transfers and credit cards.
There must be the requisite technology
“Payments are the biggest headaches in online gambling.
Getting money into the sites is sometimes the hardest thing.”
FansUnite’s technology platform can turn on and off payment systems geographically, allowing them to tailor the method to the local jurisdiction and its laws.
Entering new territory
New areas of focus are many. They include video game tournaments, called esports. It is big business these days. Before COVID, esports was gaining in popularity. Now its popularity has significantly increased with expected revenues of a whopping $1.1 billion by the end of the year. The audience could re3ach 495 million people.
Esports has been driven online promising opportunities for tech-based gaming companies like FansUnite. The company is forming an entire online esports division to meet demand.
Anti-fraud and money laundering
FansUnite has a strong regulatory and anti-fraud play. Independent anti-money laundering officers exist in key locations and use “risk triggers” into their technology. Suspicious activity is to be noted. One tipoff is trying to withdraw money using a different method from deposit or moving money between multiple accounts.
FansUnite’s software is also useful in in-person venues. Someone might be at ahorse racing track, wanting to move from paper slip betting to a digital system by using credit cards and online accounts. There is a way to make betting more convenient and resistant to money laundering through technology.
Regulatory approval in Malta is pertinent as it has stringent anti-fraud and money laundering requirements. Canada and the U.S. are trying to catch up and get tough on financial crimes.
According to Burton, FansUnite anticipates over $1 million net consolidated revenue this year. They are looking to extend that to $5-6 million in 2021 and $15-16 million in 2022.
Last year was a busy one for the company and they aren’t slowing down any time soon. More acquisitions, significant revenue growth, additional gaming licenses, M&A opportunities and more are on tap.