Latest News
SharpLink Gaming Announces First Quarter 2024 Results and Provides Operational Update

SharpLink Gaming, Inc. (Nasdaq:SBET) (“SharpLink” or the “Company”), an online performance-based marketing company serving the U.S. sports betting and iGaming industries, today announced its first quarter financial results for the three months ended March 31, 2024, as reported in the Company’s Quarterly Report on Form 10-Q (“10-Q”) filed with the U.S. Securities and Exchange Commission (“SEC”) on Friday, May 17, 2024.
Commenting on the results, Rob Phythian, Chairman and CEO of SharpLink, stated, “2024 kicked off being marked by a pivotal quarter defined by the successful execution of a series of initiatives. We view each of these important milestones as critical first steps in achieving the strategic transformation of our Company, enabling us to ultimately win distinction as a leading pure-play online affiliate marketing company trusted by and relied upon by our U.S. sportsbook and global casino gaming partners.”
As previously announced, on January 18, 2024, SharpLink sold its Sports Gaming Client Services and SportsHub Gaming Network (“SHGN”) business segments to RSports Interactive, Inc. (“RSports”) for $22.5 million in an all-cash transaction. As a result, the historical results for these segments were reflected as discontinued operations in the Company’s consolidated financial statements included in the 10-Q.
Financial Highlights for the Three Months Ended March 31, 2024 Compared to Three Months Ended March 21, 2023
- Revenues from the Company’s continuing operations totaled $975,946 compared to $1,232,762.
- Net loss from continuing operations declined 18.4% to $1,760,811 compared to $2,157,183.
- Net income from discontinued operations, net of tax increased 2217% to $14,111,167 from a net loss from discontinued operations, net of tax of $666,563.
- Net income totaled $12,350,345, or $3.36 income per share on a fully diluted basis – up 537% from $2,823,746, or $1.01 loss per share.
For more detailed information on SharpLink’s first quarter 2024 financial performance, please refer to Form 10-Q filed with the SEC and accessible at sec.gov or on SharpLink’s website at sharplink.com.
First Quarter 2024 Business Highlights
- On January 18, 2024, completed sale of SharpLink’s Sports Gaming Client Services and SHGN businesses to RSports for $22.5 million in an all-cash transaction.
- Immediately following the sale, SharpLink used a portion of the proceeds from the sale to retire approximately $19.4 million, in aggregate, in outstanding debt obligations, thereby eliminating all interest-bearing debt on its balance sheet.
- On February 8, 2024, regained full compliance with Nasdaq Continued Listing Standards.
- On February 13, 2024, completed domestication merger with SharpLink Gaming, Ltd., changing from an Israel limited liability company to a Delaware corporation.
- In February, established new Board of Directors for SharpLink Gaming, Inc. with the appointments of Rob Phythian as Chairman and Leslie Bernhard, Obie McKenzie and Robert Gutkowski as new independent members of the Board.
Continuing, Phythian said, “Given our strengthened balance sheet; our highly engaged Board comprised of world class, accomplished business executives; and our shared commitment to a strategy that is expected to empower us to capitalize on potentially compelling growth opportunities in the sports, entertainment and media industries, SharpLink has great hopes for our Company’s future. We plan to continue to enhance our value proposition to our sportsbooks and casino operator partners, while also actively seeking opportunities to expand our iGaming affiliate marketing network into new U.S and international markets where online sports betting and casino gaming have been legalized. Moreover, we intend to continue executing our strategic transformation with clarity and focus, and in doing so, we hope to deliver strong, sustainable value creation for our fellow shareholders for many years to come.”
“Unlocking SharpLink’s next phase of growth with purpose and cost-discipline will be key to our long-term success and should provide us with greater agility as we build momentum and look to accelerate our growth prospects as 2024 unfolds. To help support our mission and continued strategic transformation, we have filed a registration statement on Form S-3 with the SEC and accompanying prospectus for an At-The-Market offering (“ATM”) which we may utilize to raise growth capital if and when market conditions permit. We have identified other measures that we may also pursue to optimize our assets and further strengthen the foundation on which we are building the ‘new’ SharpLink. Over the course of the next several months, I look forward to sharing many more details on our plans and future ambitions,” concluded Phythian.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of SharpLink, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Latest News
Brazilian Volleyball Confederation Partners with Sportradar

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

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

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)
“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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