SharpLink’s main interest in this new expansion is to get access to online sports betting markets as opposed to retail sports betting markets. In their market research they found that in every state with mobile sports betting and retail sports betting, mobile was the preferred choice.
“Pursuing authorization to legally operate in states that have approved online sports betting has been paramount to our Company achieving our ultimate aim of becoming the preferred gamification, conversion technology and online marketing partner to sports media operators, teams, leagues and sportsbooks in the United States and Canada,” Rob Phythian, Co-Founder and CEO of SharpLink said in a press release. “We believe that the achievement of this major milestone, earlier than initially anticipated, has the potential to accelerate our long-term growth strategy.”
The news release also announced new affiliate marketing partnerships with “virtually every major sportsbook legally operating in the U.S.” Most notably on this list are the four leaders in the space: FanDuel, BetMGM, DraftKings and Caesars. Smaller sportsbooks such as Bet365, Tipico, Unibet, and WynnBet are also among SharpLink’s new marketing affiliates.
NEWS OUT: SharpLink Gaming Now Authorized to Provide Sports Betting Conversion and Marketing Services to Industry Operators in 21 U.S. States and Ontario, Canada https://t.co/KAILywflo6 $SBET #SharpLinkGaming pic.twitter.com/fEhKcgSnMk
— SharpLink Gaming (@SharpLinkGaming) October 26, 2022
SportsHub Meets Sports Betting?
This announcement comes just over a month after SharpLink announced its acquisition of SportsHub Games Network, a fantasy and sports game provider. SportsHub offers a variety of real-money fantasy sports games to over 2 million fantasy sports fans annually.
“Our previously announced acquisition of SportsHub, which is subject to the approval of our shareholders, will give SharpLink access to a large and loyal base of fantasy sports fans and a thriving ecosystem of cash players,” Phytian added. “Based on studies that confirm fantasy sports fans who reside in legal states are also becoming enthusiastic online sports bettors, we believe there is an opportunity for SharpLink to seamlessly integrate compelling sportsbook offers within all aspects of the user experience, thus driving potentially greater growth for our Company in the future.”
What an integration of these two sectors looks like remains to be seen, but given the nature of the SportsHub acquisition, it is likely that there are more plans to grow the company in the near future.