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Elys Game Technology Bets Big on U.S. Market with Third Location

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Elys Game Technology Corp. is a growing sports betting and iGaming platform globally in regulated B2B and B2C markets. In particular, the online gaming platform has achieved success in the robust Italian market in part by bringing sports betting to small business venues, and it is now aggressively expanding across North America and setting up new trends in the evolving U.S. sports betting landscape.

The small business sportsbook model could provide Elys with the leverage to be a significant challenger to more established players like DraftKings, FanDuel, and BetMGM.

Whenever a new company enters a market, it’s important for investors to look at its competitive advantages. These advantages are what will attract customers and help the company win market share away from its competitors. In Elys’ case, it has two key advantages.

Advantage 1: Small Business Sportsbooks

Elys Game Technology offers a convenient way for small businesses to offer cost-effective sports gambling to their most loyal customers.

This model has already proved successful at Elys’ first U.S. location – Grand Central Sportsbook in Washington D.C. The company reports that the location has been a significant revenue driver for the company, averaging $67,500 per month in Gross Gaming Revenue (GGR) for the operator, which is approximately 700% above initial expectations. Its success has also encouraged Elys to open two more locations in D.C.

While major companies like DraftKings and FanDuel are spending hundreds of millions to dominate the national conversion, Elys is winning customer loyalty by going local.

Advantage 2: The “Best Odds” Model

Elys Game Technology has also won favor among bettors due to its unique “best odds” approach. The “best odds” model is an odds-making strategy aimed at attracting and retaining clients by providing the most competitive odds on various sporting events. This approach prioritizes long-term customer loyalty over short-term market share growth. It is another example of how Elys is going against the grain of the industry.

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Most major players in the industry have won market share by spending millions on marketing campaigns and offering steep customer promotions. But, while promos might drive short-term signups, they do not always lead to long-term customer loyalty.

If Elys Game Technology’s “best odds” model proves to offer a better customer experience, then it could help the company dethrone larger competitors as America’s preferred sports betting platform.

Sports Betting in the US

In 2018, the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA). This paved the way for each state to determine its own sports betting laws. Since then, legal sports betting has taken off in the US.

30 states have already legalized sports betting in some capacity. Revenue from legalized online sports betting is projected to hit $7.62 billion this year, according to Statista.

By 2027, this market is expected to reach $31.09 billion, growing at a compounded annual growth rate (CAGR) of 12.89% over 2023-2027.

Statista estimates that just under 50 million Americans will participate in sports gambling by 2027, roughly 19% of the adult population.

To understand the popularity of sports betting in the US, investors should look no further than the success of the National Football League (NFL). The NFL Championship – the Super Bowl – routinely draws in around 100 million viewers. And, of the 50 most valuable sports franchises in the world, 30 are NFL teams.

Sports betting will likely continue to grow in America, thanks in large part to the popularity of the NFL. As sports betting becomes more mainstream, providers like Elys, with their extensive experience in the industry, appear well positioned to join in the success.

Elys Game Technology U.S. Expansion Plans

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Elys Game Technology recently announced plans to expand its footprint in Washington D.C. by adding a third location on H Street. This new location will build on the success of Elys’ other two D.C. locations: Grand Central Sportsbook and the Cloakroom Gentlemen’s Club Over Under Sportsbook Lounge.

Elys plans to use this D.C. base to expand sequentially into the following states:

New Jersey

Louisiana

Kentucky

Colorado

Indiana

Illinois

Michigan

Once it has established a foothold in local bars/restaurants, Elys will have plenty of room to expand its offering outside of just sports betting. This is because it offers a full suite of omnichannel leisure gaming products and services including online casino and slot games, poker, bingo, lottery, and more interactive gambling games.

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Brazilian Volleyball Confederation Partners with Sportradar

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The Brazilian Volleyball Confederation (CBV) has announced a comprehensive, multi-year partnership with Sportradar Group, a leading global sports technology company, to strengthen the performance of its athletes, from grassroots to professional levels of the sport.

Starting this season, Sportradar will leverage computer vision to capture deep data from CBV matches and training sessions, on the beach and the court, to create detailed metrics and dynamic visualizations from every rally, point and match, providing teams and coaches with valuable insights that will contribute to the growth and success of Brazilian volleyball.

In collaboration with fellow CBV partner VolleyStation, Sportradar will implement several additional technology upgrades for the federation. These include a new Video Checking System at 22 training venues to improve officiating; a Brazilian Player Data Hub to track athlete development; and automated data collection and video production capabilities at the national team training center in Saquarema.

In addition, CBV will partner with Sportradar to safeguard more than 7400 annual CBV competitions from corruption and match-fixing through Sportradar’s industry-leading Universal Fraud Detection System (UFDS) and educational workshops for athletes, administrators, and referees.

“We are delighted CBV has selected Sportradar to transform sports performance for Brazilian volleyball. Through this partnership, we are equipping CBV with the deep data and insights to identify the next generation of champions, as well as ensuring the integrity of their competitions,” said Sergio Floris, Managing Director Brazil, Sportradar.

“The partnership with Sportradar yields important results, such as the implementation of the challenge system in all Superliga matches, bringing even more security and fairness to the games. In addition, the specific data of each athlete is a fundamental tool for the development of national volleyball,” said Jorge Bichara, Technical Director of CBV.

“We are pleased with our partnership with Sportradar through its portfolio of products and services to enhance CBV’s technical, operational, and commercial efficiency. This is another important step in our ongoing efforts to improve the relationship between fans and the sport. The data provided by Sportradar will enable the development of new experiences for fans and new revenue opportunities for CBV,” said Henrique Netto, CBV’s Director of Marketing and New Business.

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Compliance Updates

DCP Issues Summary Suspension of High5Games License for Conducting Illegal Gaming Activity

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The Department of Consumer Protection Gaming Division has issued a summary suspension of the license for Online Gaming Service Provider, High5Games.

High5Games is a licensed service provider that develops and provides online slot content for the legal gaming platforms in Connecticut. The Gaming Division’s investigation determined that High5Games also illegally operates an unlicensed online casino, High5Casino.

High5Casino was marketed by High5Games as a legal “licensed” casino and accepted wagers from Connecticut bettors, including individuals who had signed up for the statewide Voluntary Self-Exclusion List.

There are only two legal platforms licensed to accept iCasino wagers from Connecticut consumers: FanDuel and DraftKings. They are affiliated with Mohegan Sun and Foxwoods Casino, respectively.

The DCP Gaming Division investigation determined that 1100 Connecticut customers made deposits and gambled on the unlicensed High5Casino platform. Of those, 911 customers lost a total of $937,938, and 108 were individuals who had signed up for the Voluntary Self-Exclusion List. Customers on the Voluntary Self-Exclusion List lost nearly $300,000 on the platform.

High5Games, a majority owner of High5Casino, will be charged with 1065 criminal counts of conducting illegal gaming activity. Gaming Division Criminal Investigators will seek criminal charges for all of the violations of Connecticut’s gaming laws, for which each charge is a Class A misdemeanor carrying a penalty of up to one year in jail and a fine of up to $2000.

DCP will seek restitution for eligible consumers who suffered a financial loss after being misled to believe that High5Casino was a legal form of gaming in Connecticut.

“Thank you to our Gaming Division team for their hard work to hold this licensee accountable. It is a privilege to hold this license, and we expect our credential holders to take that responsibility seriously. High5Games took advantage of their credential to mislead consumers into believing they were participating in gaming on a legal platform when, in fact, they were breaking the law. We remind consumers that there are only two licensed online casinos in Connecticut — DraftKings/Foxwoods and FanDuel/Mohegan Sun — and if you choose to participate in online gaming, you should only utilize one of the legal platforms licensed to operate in our state,” said DCP Commissioner Bryan T. Cafferelli.

“We are disappointed that a licensed gaming service provider took advantage of Connecticut consumers by operating an illegal casino platform. It is difficult to recover funds for consumers from illegal platforms. We remind consumers that gambling on licensed platforms is the only way to guarantee recovered funds in the event of an issue with a game or platform,” said DCP Gaming Division Director Kris Gilman.

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New Study Links Sports Gambling with Alcohol-related Risks Over Time

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A new study published in JAMA Psychiatry has found that sports gambling frequency and alcohol-related problems are strongly associated over time, reinforcing concerns about the potential health risks of concurrent gambling and drinking behaviors.

The study, funded by the International Center for Responsible Gaming (ICRG), analyzed data from over 4300 U.S. adults over two years. Researchers found that while alcohol-related problems slightly decreased over time, fluctuations in sports gambling frequency were closely tied to changes in alcohol-related harms. These findings suggest that individuals who engage in both activities may be at heightened risk of developing problematic drinking behaviors.

“These results emphasize the need for screening and intervention strategies targeting sports gamblers who also drink. It is quite likely that these behaviors are interacting in such a way that may increase the risks associated with both. Given the increasing accessibility of sports gambling in the U.S., understanding the health implications of these behaviors is critical,” said lead author Dr. Joshua B. Grubbs of the University of New Mexico.

The ICRG, the largest independent funder of gambling research in the US, has supported multiple studies aimed at understanding the risks associated with sports wagering. Dr. Grubbs’ latest research builds on his extensive body of work, which has resulted in 12 peer-reviewed publications examining gambling behaviors, addiction risks, and responsible gambling strategies. Supported by ICRG funding, his studies have significantly contributed to the understanding of these critical issues.

Among prior ICRG-supported findings:

• Sports bettors are at a higher risk for addiction than other gambling groups, with a strong connection to binge drinking. (JAMA Network Open, 2024)

• Impulsivity is a key predictor of high-risk gambling behaviors, underscoring the need for targeted intervention strategies. (Addictive Behaviors, 2024)

• Responsible gambling strategies must be tailored to different types of sports betting, as not all forms carry the same level of risk. (Journal of Gambling Studies, 2024)

• Marginalized communities face unique gambling challenges, requiring culturally sensitive harm-reduction strategies. (Addictive Behaviors, 2023)

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“As sports gambling continues to expand, research like this is essential for understanding the broader public health implications. ICRG remains committed to funding rigorous, independent studies that contribute to evidence-based solutions for responsible gambling,” said Art Paikowsky, President of ICRG.

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