Policy Shifts Create New Opportunities for Mobile Online Betting and Gaming
February 22, 2021 at 08:50 AM EST
FN Media Group Presents Microsmallcap.com Market Commentary
New York, NY – February 22, 2021 – On March 1, Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), parent company to Google, will quietly put in place a change in policy that could create a seismic shift in the online betting landscape. The company announced in January that the Google Play Store will allow gambling apps to be available for download in 15 additional countries, including major markets like the United States, Australia, Canada, and Germany. The policy shift comes likely in response to jurisdictions around the world opening up to legal and regulated online betting, creating huge opportunities for online betting technology companies and platform holders. Online gaming companies like Real Luck Group Ltd, “Luckbox” (TSXV:LUCK), FansUnite Entertainment (CSE:FANS) (OTCQB:FUNFF), Score Media and Gaming (TSX: SCR) (OTCPK: TSCRD), and Zynga Inc. (NASDAQ:ZNGA) are finding themselves in a new world for the industry with new opportunities opening up seemingly every month.
Luckbox Celebrates Google Announcement Along With Jurisdictional Policy Reform
Real Luck Group Ltd, “Luckbox”, (TSXV:LUCK) is one of the companies celebrating policy reform for online betting. Luckbox runs a fully licensed global sports and esports betting platform that allows players to bet on nearly any major event anywhere in the world pre-game and mid-match. Luckbox has become a rising star in the industry at a key time when online betting is making key breakthroughs.
As a leading player in the digital betting space, Luckbox stands to benefit significantly from Alphabet Inc’s (NASDAQ:GOOGL) (NASDAQ:GOOG) decision to allow betting apps on the Google Play Store. Google Play represents one of the largest user bases in the mobile space, and by giving betting companies access to that space, Google could be creating a major growth catalyst for the industry.
“Google’s addition of 15 nations (for a total of 19) that can now download gambling apps is a significant boost for the igaming sector,” Real Luck Group CEO Quentin Martin said in the February 5 release. “As an operator offering wagering on esports and sports via our Luckbox platform, this is a positive catalyst for the mobile betting sector, as it facilitates further player uptake in a responsible manner and signals the widening global acceptance of gaming.”
Luckbox added that Google’s decision will be beneficial to the company given that about 50% of its traffic comes from mobile users.
Google’s policy shift likely comes in response to many of the affected countries softening their own stances on online betting. Canada, for example, passed the Safe and Regulated Sports Betting Act in the House of Commons on February 17, paving the way for legal single-event sports betting. A second similar bill is expected to pass on February 19. Luckbox applauded the legislation in a February 12 release.
“As a fully licensed and responsible betting company, we strongly support the bill and would echo the AGLC’s sentiments that this would give esports and gaming fans in Canada the option to bet on their favourite events in a safe and regulated environment”, Martin said in the release. “We know that there is a significant market for esports in Canada and we believe many fans would like to bet on matches. Legalization, regulation and working with responsible operators is, in our view, the best means to keep fans safe and offer them the best possible experience. We will be following the outcome of Bill C-13 very closely during what are exciting times for fans of esports, sports and the igaming industry in Canada and the US.”
A Rapidly Expanding Online Betting Landscape
The online betting space has been developing at an incredible pace in recent years, and betting companies have been quick to expand into new jurisdictions as they open up. Esports betting company FansUnite Entertainment (CSE:FANS) (OTCQB:FUNFF) became the first company to establish an esports sportsbook in the state of Colorado. The company has also said that it has plans for the Canadian market as legislation opens the market to online sports betting.
Canadian sports betting and media company Score Media and Gaming (TSX:SCR) (OTCPK:TSCRD) has been rapidly growing in this market landscape as well, moving into three US markets in the past six months. Like Luckbox, Score has also noted the significant opportunity presented by Canada’s online betting legislation for the company and for the online betting space as a whole.
A Climbing Mobile Market Space
Google allowing betting on its platform will give online betting companies easier access to the massive and rapidly growing mobile app space. To put that opportunity in perspective, leading mobile games company Zynga Inc. (NASDAQ:ZNGA) finished 2020 with a 52 percent year-over-year revenue increase in the fourth quarter with revenue of $1.97 billion. Consumer eyes are on mobile platforms and having a presence on the Google Play Store could be huge for the betting industry.
From Google’s opening of the mobile app space to online betting to the rush of opening legislation that we are seeing all over the world, there has never been a better time to be a company like Real Luck Group in the online betting space.
To learn more about Real Luck Group, click here.
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