Connect with us
728x90 banner available here

Latest News

Gambling and Tech Companies Charge Into American Sports Betting Market

Published

on

Reading Time: 6 minutes

NetworkNewsWire Editorial Coverage

A recent change in United States law has led to a gold rush in the gaming industry as numerous companies scramble to set up sports gambling operations.

  • The U.S. Supreme Court’s overruling of 1992 gambling legislation essentially makes sports betting widely legal throughout the country.
  • Casinos are moving to make the most of this by opening sports books.
  • Technology companies are also exploring possible revenue avenues through online gambling apps.
  • The United States is set to see a $3$5 billion take in the global sports betting market within a few years – a market already worth an estimated $40 billion.

One of the new players in the sports gambling space is SinglePoint, Inc. (OTC: SING) (SING Profile), a tech company focused on innovation that has invested in gambling app StakeHaul. In the world of big gambling, casino companies such as Caesars Entertainment Corp. (NASDAQ: CZR) are exploring ways to add sports gambling to their existing entertainment rosters. MGM Resorts International (NYSE: MGM) already provides sports gaming alongside traditional betting options. Following suit, Penn National Gaming, Inc. (NASDAQ: PENN) has started offering sports betting at some of its casinos, as has Boyd Gaming Corp. (NYSE: BYD), which is also entering the online gambling space.

To view an infographic of this editorial, click here.

The Race to Benefit from Sports Betting

From soccer in Europe to cricket in India, people enjoy betting on the outcome of sports competitions. In fact, sports betting is one of the most popular forms of gambling in the world, producing an estimated $40 billion global industry that includes local bookmakers to national brands to international betting websites.

In the United States, this type of betting has been extremely limited since the early 1990s. Legislation designed to protect people from the harmful effects of gambling effectively made betting on sports illegal across the country, with limited exceptions in a handful of states.

The recent overturning of this law has suddenly created a new market. Because that market hasn’t existed for the past 25 years, the renewed interest has revealed an infrastructural void in the American gaming industry. Technological innovations have not been applied to sports gambling, so companies are now playing catch up. The results will shape an industry estimated to be worth billions of dollars every year.

The Death and Life of U.S. Sports Gambling

This year is seeing a number of gambling companies expand their operations to include sports betting while tech companies such as SinglePoint, Inc. (OTCQB:SING) are looking at what they can do to fill a commercial void. But how did this gap in the gambling market come about in the first place?

The Professional and Amateur Sports Protection Act (PASPA) was passed by the U.S. Congress in 1992. It effectively outlawed betting on sports across the United States, with limited exceptions, including specific forms of racing; sports lotteries in DelawareMontana and Oregon; and licensed pools in Nevada.

The law quickly became an unpopular one. By 2017, a majority of Americans reportedly wanted to see sports betting legalized so they could join in a pastime enjoyed by millions around the world. Several attempts were made to overturn the law, eventually resulting in a legal case being heard before the Supreme Court. In May, the court overturned PASPA, declaring that the law violated the 10thConstitutional Amendment.

The sports betting market was already growing around the world. Because of the nature of the business and the lack of centrally collected figures, it’s impossible to accurately measure its worth, but it was estimated at around $40 billion in 2016. And now, America is expected to become a significant growth area, worth an estimated $3 billion to $5 billion within the next five years .

That’s a lot of money. So how does a company such as SinglePoint go about getting a piece of the acton?

Gambling on Technology

The key to this market, like so many others, lies in online interactions and mobile technology in particular. By bringing gambling first into customers’ homes and then into their pockets, tech-savvy gambling companies have vastly increased the opportunity to make small, casual bets.

One of the products that has sprung from this is StakeHaul. A mobile gambling platform, StakeHaul allows users to bet on anything. Whether it’s a traditional test of machismo such as who can do the most pull-ups, a motivational bet on who will complete a chore first, or even a gamble on the outcome of world events, StakeHaul can make it happen. And with sports betting now apparently legal in the United States, StakeHaul can include that too.

StakeHaul makes it easy to carry out the sort of casual bets traditionally placed in person. The stakes need be nothing more than the honor of knowing who won, although they can just as easily be financial. The company is currently finalizing a peer-to-peer payment model that can pay out in either U.S. dollars or cryptocurrency. With internet native currencies on the rise, it makes sense for an online gambling system to recognize those types of transactions.

With more than 70,000 downloads, StakeHaul is currently the top-ranked app for making bets with friends – and those numbers are steadily increasing. Each month has seen a double-digit percentage rise in active users and bets placed through the platform.

With more than a third of Americans betting on at least one sports event every year, there are plenty of people looking to make the most of the newly loosened laws, and StakeHaul provides a way to do that. “All in all, our unique features, our ease of use, and the legal momentum behind betting in the U.S. makes our opportunity not just a home run but a grand slam,” stated Jeffery Lippert, founder of StakeHaul.

Investing in the Future of Gambling

It’s not surprising then that tech company SinglePoint has made an investment in StakeHaul.

Originally a full-service mobile technology provider, SinglePoint has evolved into a company with an interest in a wide range of technologies. The organization focuses on companies that have great potential and proven assets currently believed to be undervalued on the market. By investing in such companies, SinglePoint has developed a diverse portfolio of up-and-coming tech companies.

Payment systems play a large part in SinglePoint’s holdings. The global payment market is changing, with finance increasingly transacted online or with smartphones. SinglePoint’s payment processing systems are designed to deal with this new world. It is also working to provide cryptocurrency payment systems using Bitcoin and Ethereum, the leading global cryptocurrencies. These are technologies that will fit well with the financial side of the company’s investment in StakeHaul.

But it’s not all about electronic payment. SinglePoint has teamed up with New Sun Energies to provide cost effective solar power in six states. With interests in blockchain, renewable energy and the sports betting market, the company has investments in several sectors that are due to see considerable growth over the next decade.

The Bigger Game Market

History shows that gambling can lead to big wins for a business. Caesars Entertainment Corp.(NASDAQ:CZR) started off as a single bingo parlor in 1930s Nevada. Over the decades, it’s become the most famous name in gaming, with 47 casinos in five countries. Its buildings play host to conventions, meetings and hundreds of thousands of tourists. The thrill of betting keeps the customers coming through the doors of those casinos and has helped to build up a legendary reputation as a place of decadence and entertainment, a reputation that also helps explain the success of over 600 bars, restaurants and clubs across the United States.

With its string of hotels and casinos, MGM Resorts International (NYSE:MGM) has done a job similar to Caesars’ in turning the pleasure of gambling into a multimillion-dollar entertainment empire. Even before PASPA was struck down, MGM was profiting from sports betting as well as traditional gambling, thanks to the popularity of its venues. Hosting events such as world-class boxing matches means not just ticket receipts but also a flood of fans using the hotels and their facilities.

Penn National Gaming, Inc. (NASDAQ: PENN) might not have the glamor of the big names, but the company is still a very successful operator in the American gambling sector. It has gaming, racing and video gaming terminals spread across 29 facilities in the United States and Canada, with a focus on slot machines. The recent legal change is creating more options, and the company recently started offering sports betting at Hollywood Casino at Charles Town Races in West Virginia.

One of the largest casino companies in the United StatesBoyd Gaming Corp. (NYSE:BYD) has 24 gaming properties spread across seven states. The company runs 10 sports betting operations across Nevada and has recently opened sports books at two of its Mississippi properties. It has also teamed up with FanDuel Group to engage in online betting and sports gaming opportunities across the country.

The overturning of PASPA is set to transform the American gambling industry. Both online and in casinos, sports gambling is taking off in a big way. Early adopter companies are set to benefit enormously from this change.

For more information about SinglePoint, please visit SinglePoint, Inc. (OTCQB:SING).

Source: networknewswire.com

 


Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Latest News

Team Vitality accelerates global growth with acquisition of Bigetron Esports

Published

on

Reading Time: 4 minutes

 

The acquisition will see Team Vitality continue to forge its path to becoming one of the only truly international esports organisations, by entering the mobile gaming market in new regions and markets

Leading esports club, Team Vitality, is proud to announce the acquisition of Indonesian esports organisation, Bigetron Esports, following a deal with one of the most powerful mobile gaming esports brands globally. The move will strengthen Team Vitality’s presence in the mobile gaming market as well as extend the brand’s reach further into the Southeast Asian region, continuing to forge its path to become a truly global, multifaceted presence across all elements of esports.

Bigetron by Vitality: A strategic move into Southeast Asia and mobile gaming

The acquisition places Team Vitality in a strategically important gaming market – Southeast Asia. With a population of over 270 million, and more than 30% of whom are under 30, Indonesia represents a vibrant and highly engaged audience for esports. The country is home to over 100 million gamers, making it the fourth-largest gaming market in the world. Southeast Asia, particularly Indonesia, is also one of the fastest-growing regions for mobile gaming, with a remarkable 20% year-over-year revenue growth.

As part of the move, Bigetron Esports’ brand identity will change to ‘Bigetron by Vitality’, to show respect to the club’s local legacy while allowing Team Vitality to integrate the brand authentically and exclusively into all future mobile gaming activities. Bigetron Esports CEO, Edwin Chia, alongside Team Vitality’s Co-Founder CEO, Nicolas Maurer and Corporate Director of Global Operations, Danny Engels, will work together as the respective leads for Vitality’s mobile gaming entity.

This acquisition marks a significant step in Team Vitality’s expansion into mobile gaming, following the 2024 acquisition of Bigetron’s Women’s Mobile Legends: Bang Bang roster. Prompting a deeper exploration of the mobile esports space, Bigetron represents a fantastic addition to help introduce and grow the Vitality brand within this fast-growing and dynamic segment of the industry.

Bigetron Esports has built a formidable reputation in the mobile gaming world, with an impressive social media presence across multiple platforms, totaling over 6.8 million followers across YouTube, Instagram, TikTok and WhatsApp. As part of this acquisition, all Bigetron social media channels will be rebranded to align with Team Vitality as ‘ Bigetron by Vitality’, integrating seamlessly into the broader Team Vitality network.

Bigetron is one of the few Southeast Asian organisations with an established footprint in four key mobile gaming titles, a strong competitive track record, and existing partnerships with gaming industry leaders Moonton and Tencent. Following the deal, Team Vitality will be represented by the organisation’s existing key rosters and talent including:

  • Men’s Mobile Legends Bang Bang Team: Competing in the Mobile Legends Bang Bang Professional League Indonesia (MPL ID), the organization recently secured 3rd place in the highly competitive league operated by game publisher Moonton, with a notable peak viewership of an astonishing 4 million.
  • PUBG Mobile Team: With total prize winnings exceeding $1.2 million, Bigetron has made multiple World Championship appearances, including the 2024 World Championship, and holds World Championship titles from 2019 and 2020.
  • Free Fire Team: Champions of the Free Fire World Series (FFWS) Indonesian Fall 2024. The team also earned a spot in the Free Fire World Series Grand Finals 2024.
  • Honor of Kings Team: The Honor of Kings team recently triumphed in the Indonesian Qualifier for the HoK Invitational Season 3 and became a partner team in the newly established Professional Honor of Kings League in Indonesia.
  • Women’s Mobile Legends Bang Bang team: Following acquiring the team in 2024, Bigetron will offer additional support, resources and infrastructure to further support the roster ahead of the Esports World Cup in 2025.
  • Additionally, Bigetron has assembled a lineup of Southeast Asian brand ambassadors with a combined social media following of over 27 million, all of whom will further amplify the clubs partnership with Team Vitality throughout the region

All of the above teams that qualify for the Esports World Cup will represent Team Vitality and compete under the Team Vitality banner and team name. Following this, teams competing in Mobile Legends, PUBG Mobile, Honor of Kings, and Free Fire tournaments will do so as Bigetron by Vitality, marking the full integration of Bigetron into the Team Vitality network.

TEAM VITALITY IN FIGURES

After Bigetron Esports acquisition

  • +170 employees in 3 different offices in Paris, Berlin and Jakarta (+50 employees)
  • 19 teams (+5 teams)
  • 15 games (+3 games)
  • 10 million owned followers worldwide (+6.8 million)

Ambitious international plans for 2025

With ambitious plans for international expansion, Team Vitality is setting its sights on reaching new heights in esports throughout 2025. This year, the organisation is focused on securing victories, strengthening its legacy, and pioneering the esports industry into the new generation. This commitment not only supports Team Vitality as one of the world’s leading esports powerhouses but also contributes towards the broader success of the organisation on a global scale.

“We are thrilled to announce our acquisition of Bigetron Esports.” said Nicolas Maurer, CEO of Team Vitality “As the popularity of mobile gaming continues to soar, particularly with younger generations growing up on mobile games, Team Vitality is proud to support shaping the long-term future of mobile gaming esports together with the Bigetron leadership team. This acquisition marks an important step in our internationalisation as well as becoming the best gaming organization in the world.”

“The merger was driven by our shared vision with Team Vitality to inspire and empower gamers to achieve greatness through innovation, collaboration, and relentless dedication to excellence. We believe alongside Team Vitality, we can continue achieving greatness and showcasing the stellar Indonesian esports talent on an expansive international stage.” commented the CEO of Bigetron Esports, Edwin Chia.

 

The post Team Vitality accelerates global growth with acquisition of Bigetron Esports appeared first on European Gaming Industry News.

Continue Reading

Latest News

Kaizen Gaming named Latin America’s Casino and Sportsbook Operator of the Year at the SBC Awards Americas 2025

Published

on

Reading Time: 2 minutes

 

Dual wins as ‘Casino Operator of the Year (LatAm)’ and ‘Sportsbook Operator of the Year (LatAm)’ affirm Kaizen Gaming’s leadership and product excellence across Latin America

Kaizen Gaming, one of the world’s biggest GameTech companies and owner of the Betano online sports betting and gaming brand, has been crowned ‘Casino Operator of the Year (LatAm)’ and ‘Sportsbook Operator of the Year (LatAm)’ at the highly celebrated SBC Awards Americas 2025 held in Fort Lauderdale, Florida, on Wednesday 14th May.

The two wins recognise Kaizen Gaming’s strong focus and commitment to delivering an exceptionally high-quality product offering with customer experience and satisfaction at its core. They also signify the company’s sustained growth and accelerating momentum as a leading operator across the region and beyond.

Christos Tzalavras, Chief Product Officer, Kaizen Gaming, said: “We’re proud to be recognised for having the best sportsbook and casino products in Latin America, which is undeniably one of the most dynamic and exciting gaming markets in the world today. These awards reflect our team’s passion, the strength of our strategy, and our commitment to delivering innovative, high-quality, and responsible gaming experiences. Our main secret is prioritising the customer experience in everything we do. This is a milestone moment for our brand, but the ‘Kaizen way’ is one of continuous improvement, so we’ll keep raising the bar. Thank you to the whole team for your hard work and dedication in making this achievement possible.”

Kaizen Gaming was the first operator to be officially licensed in Brazil this January. Key highlights in 2025 to-date include the renewal of Betano’s partnership with F1 legend Felipe Massa, its continuing support for Supercopa Betano Rei 2025 and the Supercopa Feminina Betano 2025, and notably the recent start of its landmark long-term principal and front-of shirt sponsorship with Club Atlético River Plate. These milestones follow its rapid expansion into three new LatAm markets last year, its partnership with CONMEBOL Copa America 2024, and title sponsorship agreements with the Brasileirão Betano in Brazil and Torneo Betano in Argentina.

The inaugural SBC Awards Americas honour outstanding companies representing the gaming and betting industry across the region. With a hand-picked judging panel, the accolades recognise the achievements and accomplishments of operators, affiliates and suppliers from all the major disciplines including payments, marketing, platform providers and data.

The SBC Awards Americas took place at Pier Sixty-Six in Fort Lauderdale on the second day of SBC Summit Americas. The show brings together 10,000 industry professionals and over 400 exhibitors for networking, knowledge exchange, and growth opportunities across the casino and sports betting sectors in North, South, and Central America.

 

The post Kaizen Gaming named Latin America’s Casino and Sportsbook Operator of the Year at the SBC Awards Americas 2025 appeared first on European Gaming Industry News.

Continue Reading

Latest News

Red Rake Gaming expands its presence in New Jersey with Hard Rock Bet

Published

on

Reading Time: < 1 minute

 

Red Rake Gaming, a leading provider of online casino content, has announced the launch of its games on the top-rated Hard Rock Bet platform via Aristocrat Interactive. 

With this launch, Red Rake Gaming continues to consolidate its growth in the United States after obtaining regulatory approval in New Jersey and other strategic markets. The availability of its most innovative and high-performing games on Hard Rock Bet reinforces the company’s presence in the region and reaffirms its commitment to providing high-quality content to top-tier operators.

Grant Williams, SVP Casino at Hard Rock Bet, commented: “We’re thrilled to Roll with Red Rake Gaming via Aristocrat Interactive and provide our players with an exciting new array of innovative gaming options. Their engaging portfolio will nicely complement the over 2,700 games available on Hard Rock Bet as we continue to elevate the online gaming experience for our players.”

Nick Barr, Managing Director of Red Rake Gaming Malta, added: “We are very excited about the addition of our games on Hard Rock Bet and the opportunity to further expand our presence in the U.S. market. Hard Rock is a globally recognized brand, and we are confident that our games will resonate with Hard Rock Bet’s players, offering a unique and immersive experience.”

 

The post Red Rake Gaming expands its presence in New Jersey with Hard Rock Bet appeared first on European Gaming Industry News.

Continue Reading

Trending

EEGaming.org is part of HIPTHER, parent brand of various prominent news outlets and international conferences. These platforms and events span a wide range of industries, including Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports, and several others. This indicates that EEGaming.org is part of a larger network that focuses on a diverse array of sectors, particularly those related to cutting-edge technology and modern lifestyle trends.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2025 HIPTHER. All Rights Reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.