Elys Game Technology has set its sights on the North American mobile sports betting market by securing a deal with the gaming giant Caesars Entertainment. The partnership will result in Elys launching its services in Colorado, providing players with access to a variety of sports betting options under its new brand, SportBet.com.
Unsurprisingly, the rise in popularity of sports betting across the US is nothing short of remarkable. This is why there have been and will be many such collaborations. Not only that, punters will most certainly be on the lookout to find free bet offers as well as bonus codes at US sportsbooks. And it stands to reason too, because even gamblers who enjoy other games look for a real money online casino, since the idea of winning extra cash is always appealing.
North American Strategy
Under the recently unveiled SportBet.com, Elys will debut its new “5D by Elys” mobile app, offering various sports betting options across multiple jurisdictions with the goal of eventually covering all of North America. The comprehensive sports betting platform will feature advanced functionalities and seamless cross-platform compatibility, enhancing the overall sports betting experience.
The sports betting provider conducted a thorough market analysis before entering the US B2B online segment, formulating an effective market strategy and developing a sports betting product anticipated to be swiftly embraced by North American sports bettors. According to Elys Executive Chairman Mike Ciavarella, the sports betting provider is dedicated to transforming recent technological investments into a successful revenue-generating business in the US. The company’s partnership with Caesars Entertainment will bring this plan to fruition.
Moreover, the distinctly recognizable sports betting URL underscores the company’s focus on U.S. growth as it strives to establish itself as a leading contender in the current expanding market. With the introduction of its new platforms, Elys is committed to delivering an unparalleled sports betting experience, combining innovation, reliability, and responsible gaming practices to secure the loyalty of its players.
SportBet.com
Elys announced the launch of its inaugural North American sports wagering venture last month, following discussions earlier this year about introducing an online sportsbook in Q3. While its collaboration with Caesars may signify its first independent initiative, it is by no means the sports betting provider’s first partnership. Elys has actively participated in various US markets through partnership ventures, including collaborative efforts in New Jersey and Washington DC. Additionally, Elys has been powering the sportsbook at Ocean Casino in Atlantic City, New Jersey, since March 2022.
In Washington DC, Elys is involved in the joint management of three retail sports betting venues including the Cloakroom Gentlemen’s Club Over Under Sportsbook Lounge, the Grand Central Restaurant and Sportsbook, and the recently approved Grand Central Sportsbook on H Street, authorized by the DC Office of Lottery and Gaming (DCOLG). The Grand Central Sportsbook will complement the existing Grand Central Restaurant and Sportsbook and the Cloakroom Gentlemen’s Club Over Under Sportsbook Lounge in Washington DC.
What’s Next
The company’s Q3 2023 financial report revealed a year-on-year decline in total revenue to $8.5 million, marking an 11.8% decrease. Elys attributed this dip in revenue to a rise in payouts for sportsbook customers, as well as a decrease in web-based turnover due to reduced online casino and poker offerings during the quarter. Moreover, the company also noted a historically quiet period for sports betting.
Ciavarella mentioned that Elys anticipates an uptick in revenue in 2024, thanks to ongoing investments in product platform and infrastructure development for its future commercial operations in North America. Additionally, the company is confident in replicating Elys’ Italian success story in the US, aiming to carve out a significant market share with its user-friendly platform SportBet.com.
While the company’s success in the U.S. remains to be seen, its multi-year market access agreement with Caesars Entertainment is sure to give the sports betting provider a competitive advantage, enabling the company to launch its new online and mobile sports betting brand for US customers. Elys is also set to finalize the installation of its North American hub and reveal enhanced offerings in Italy through Multigioco, the company’s subsidiary.
