Connect with us

Fantasy Sports

ASX to Raise €750,000 on the Spark Crowdfunding Platform to Accelerate Growth in the US

Published

on

 

Following its hugely successful equity crowdfunding campaign in May 2021, in which it raised over €500,000 in 24 hours, ASX Sports, co-founded by eponymous bookmaker Paddy Power, has launched a new €750,000 crowdfunding campaign.

The funds are being raised using a SAFE (which stands for Simple Agreement for Future Equity) instrument, in which the share price is not fixed now, but instead is determined when the company raises funds again in the future. In the case of this SAFE, existing investors in ASX will receive a 33% discount on the share price at the next round, which is expected to be within the next 6-9 months.

So, for example, if the share price at the next round is €1, those who invest in the SAFE today will purchase shares at a 33% discount to this €1 share price, which equates to a share price of €0.67. Therefore, instead of receiving 1000 shares for a €1000 investment, the investor would receive 1492 shares for their €1000 investment. Another way to think about this is that the investor is getting an extra (or bonus of) 49% worth of shares.

In total, ASX raised €2.2m from over 800 investors on the Spark Crowdfunding platform within a month.

To coincide with the crowdfunding campaign, ASX Sports launched its new peer to peer contests, making it the first fantasy sports platform in the world to have fan contests running LIVE during games.

The technology allows players to create their own contests, and play against friends and fellow players for real money or sportzcoins. It will also enable sporting celebrities, eSports gamers and social media influencers to monetise their own followers and streamers via the gaming platform.

ASX Sports recently rolled out real money cash games to the U.S. market, allowing residents of 23 U.S. states to stake dollars to enter paid games for cash prizes. This was a significant milestone, enabling ASX Sports to accept eCommerce transactions on their platform.

Paddy Power, President at ASX Sports, said: “The launch of peer-to-peer games on ASX demonstrates our dedication to driving innovation in the fantasy sports market. It comes at a time when our beta app has been installed more than 20,000 times, with over 30,000 contest entries across 10 of the biggest sporting leagues and competitions in the world including the NFL, NBA, EPL, MLB and the Six Nations. In addition, our app has been ranked in the top 100 sports apps in 11 different countries now, including The United States, Ireland and South Africa. On top of this, SportsPro Media named ASX among the 20 sports tech start-ups to invest in for 2022.”

Paddy added: “The launch of our ‘Stocks for Sports’ Index games for NFL, Premier League and Rugby in Q3 will provide real growth in our revenue and position ASX Sports for a major fundraising exercise in the coming months.”

Fantasy Sports

Canton Welcomes the Return of the Country’s Largest Fantasy Football Expo to Hall of Fame Village in August

Published

on

 

Hall of Fame Village announced that the largest Fantasy Football Expo in the country will be making a comeback, and looks to bring thousands to Canton. Fantasy Football Expo 2024 will be hosted on the Hall of Fame Village campus at the Center for Performance from August 9 to 11, 2024. This event, in its 5th year, takes place for a second time at the Village and brings together passionate fantasy football fans and top experts from around the country for 3 days of ultimate fantasy football fun.

Fantasy Football Expo 2024 has 3 days of experiences planned, uniting enthusiastic fans and leading experts nationwide. The weekend includes a blend of fantasy drafts, networking opportunities, and expert insights, bringing together seasoned veterans and newcomers to experience all things “fantasy football” under one roof.

“Hosting the Fantasy Football Expo 2024 fits perfectly within our Company’s model of bringing sports and entertainment together, especially with fantasy and the virtual experience being such integral parts of how fans engage with sports. We are thrilled to leverage our world-class venue to enhance and elevate this extraordinary event, considering the popularity of fantasy football and our mission to inspire and entertain guests,” Michael Crawford, President & CEO at Hall of Fame Village, said.

Bob Lung, Director of the Expo, said: “I’m incredibly thankful to work with Hall of Fame Village to bring the Expo back for another fantastic year. Hall of Fame Village offers an unparalleled backdrop for the event, providing the perfect setting for fantasy football enthusiasts to come together and celebrate their passion.”

Key highlights of the event include the introduction of Sports Betting Saturday, Presented by Underdog Fantasy, offering a unique opportunity to learn strategies and techniques to help enhance your experience in the sports betting world. Expert panels and workshops will be a focal point, delivering valuable insights and strategies from esteemed names in the sports betting and fantasy football industry. Sports Betting Saturday is committed to promoting responsible gaming practices and recognizing the importance of maintaining a safe and enjoyable environment for all participants. With dedicated sessions led by experts and sports gaming representatives, attendees will gain comprehensive insights into responsible gaming measures, including strategies for setting limits, recognizing problem gambling behaviors, and accessing support resources.

Continue Reading

Fantasy Sports

Underdog Invests in Critical Responsible Gaming Cross-Platform Technology

Published

on

 

Underdog, the fastest-growing fantasy sports company ever, announced an investment in idPair by GuardDog, Underdog’s responsible gaming innovation fund. idPair’s proprietary technology creates a centralized view of an individual’s play and gambling activity across all applications and operators in a jurisdiction for regulators, providing for universal responsible gaming limits. In addition to an investment from the fund, idPair will have access to top advisors, mentors, and investors and will be prioritized for integration into Underdog’s product offerings.

“Most users play with more than one operator for their gaming activity. The opportunity we see with idPair is the ability to connect people and their play, and use those insights to inform enhanced responsible gaming initiatives. Operators can only focus on their individual platforms. We believe that the ability to partner with regulators using idPair’s technology will create opportunities for partnerships that advance safer play,” Adam Warrington, VP of responsible gaming at Underdog, said.

idPair is active in multiple jurisdictions, bridging information gaps by collaborating with legislators, regulators, and operators to detect and mitigate harm from high-risk gambling across platforms. Recognizing the crucial role of research to move the industry toward sustainability, idPair has also partnered with several major universities to facilitate the study of anonymized transactional data by experts in the field.

“We are thrilled about GuardDog’s investment and partnership with us. By leveraging their vast network and data, we can accelerate our mission to drive collaborative information sharing among operators and regulators, ultimately fostering a safer and more sustainable environment for all. Together, we look forward to making significant leaps in consumer protection and industry innovation,” Jonathan Aiwazian, CEO of idPair, said.

Continue Reading

Fantasy Sports

Underdog Fantasy Partners with Sift to Prevent Fraud, Protect Users

Published

on

 

Underdog Fantasy, the fast-growing sports gaming platform, announced a new partnership with Sift, the leader in Digital Trust & Safety, to protect users against fraud and streamline transactions.

Sift’s platform uses machine learning and a global data network of 1 trillion annual events to identify high-risk transactions in real time. Sift’s technology enables Underdog to prevent the use of stolen payment methods on its platform, reducing fraudulent chargebacks and false positives that create friction for legitimate players. With adoption from Underdog, Sift has cemented itself as the preferred fraud protection solution for daily fantasy and online gaming.

“Protecting our players through innovation is part of our DNA, and we’re thrilled to partner with Sift in this important mission. Sift’s industry expertise and innovative use of machine learning allow us to instantly identify and block emerging fraud threats without creating hurdles for our players. This partnership will help us further ensure our players can trust that Underdog will give them a fun, fair, and secure environment to increase their enjoyment of sports,” said Dustin Cooper, Chief Financial Officer and Chief Operating Officer at Underdog Fantasy.

“With Sift’s deep and broad coverage in the online gaming industry, we have a unique level of visibility into different fraud patterns affecting the sector. Underdog Fantasy abides by a player-first mentality, and we’re confident our solution will help them do even more to protect their community without compromising a great user experience,” said Armen Najarian, Sift’s Chief Marketing Officer.

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2024, HIPTHER. All Rights Reserved.