LAS VEGAS, June 16, 2021 /PRNewswire/ -- Esports
Technologies Inc. (NASDAQ: EBET), a leading global provider of
advanced esports wagering products and technology, today announced
it has entered into a letter of intent to form a strategic alliance
with American SportZ Exchange (ASX), a new virtual sports trading
exchange. Through this proposed collaboration, Esports Technologies
aims to deliver its industry-focused data feed (pre-play and
in-play) and expertise to support ASX in the creation of a more
esports-focused product.
ASX was launched in May 2021 by
Paddy Power the son of David Power who founded the sports betting brand
of the same name (Flutter Entertainment is the parent company of
Paddy Power and also owns companies
such as Betfair and FanDuel). ASX enables users with the ability to
buy and sell virtual shares in esports teams and individual
players. It offers live "share prices" of teams and players, based
on an AI-driven algorithm and live data feeds. ASX is mainly
targeting the U.S. market and has the potential to reach some 90
million American users.
Under the proposed alliance, Esports Technologies expects to
provide real-time data and statistics to power the platform's
esports execution. The analytics provided by Esports Technologies
is expected to add a new dimension of live engagement and
peer-to-peer predictions for esports betting on ASX, all with the
mission of bringing higher liquidity and improving customer
retention.
Bart Barden, Esports Technologies
COO, said, "We look forward to joining forces with ASX, which is
emerging as a vibrant force in sports trading exchanges. Esports
Technologies' advanced data and platform solutions are being tapped
by leaders throughout the industry to help drive esports product
innovation. As a technology partner, our deep and granular
real-time data intends to further enhance the excitement and
appeal of the ASX platform. This is a perfect alignment of
capabilities fans want."
ASX president and co-founder Paddy
Power added, "Esports Technologies' proprietary data
analytics are far and beyond superior to other options in the
markets. Their offering adds a more specialized layer to the
financial market technology we already rely on, providing our users
with even better data to make informed trades. The Esports
Technologies leadership team is a trailblazer in the rapidly
emerging esports domain. It's a thrilling time to see how we might
collaborate to mutually-beneficial effect over the coming months
and years."
Esports Technologies' planned alliance with ASX comes on the
heels of the strategic alliance with British bookmaker Colossus
Bets, granting an exclusive license for the majority of Colossus's
cash-out patent portfolio for esports applications. This
development is expected to significantly enhance the cash-out user
experience across all Esports Technologies' products.
About Esports Technologies
Esports Technologies is developing groundbreaking and engaging
wagering products for esports fans and bettors around the world.
Esports Technologies is one of the leading global providers of
esports product, platform and marketing solutions. The company
operates a licensed online gambling platform, gogawi.com, that
offers real money betting on esports events and professional sports
from around the world in a secure environment. The company is
developing esports predictive gaming technologies that allow
distribution to both customers and business partners.
CAUTIONARY STATEMENT CONCERNING FORWARD LOOKING
STATEMENTS:
This press release includes forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995, which statements involve
risks and uncertainties. These statements relate to future events,
future expectations, plans and prospects. You can identify
forward-looking statements by those that are not historical in
nature, particularly those that use terminology such as "may,"
"should," "expects," "anticipates," "contemplates," "estimates,"
"believes," "plans," "projected," "predicts," "potential," or
"hopes" or the negative of these or similar terms. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable as of the date made,
actual results or outcomes may prove to be materially different
from the expectations expressed or implied by such forward-looking
statements. Such risks and uncertainties include, but are not
limited to, the Company's ability to successfully enter into a
definitive agreement with ASX and to successfully deliver its data
feed to the ASX. These statements are only predictions and involve
known and unknown risks, uncertainties, and other factors,
including those discussed in the Company's filings with the
Securities and Exchange Commission, including as set forth in the
"Risk Factors" section of the Company's final prospectus, which was
filed with the Securities and Exchange Commission on April 16, 2021, as updated by the Company's
subsequent Quarterly Reports on Form 10-Q. The Company does not
undertake any obligation to release publicly any revisions to
forward-looking statements as a result of subsequent events or
developments, except as required by law.
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SOURCE Esports Technologies Inc.