Colorado could become a “proving ground” for esports betting
Sharpr is a weekly newsletter covering the intersection of esports, betting, and Gen Z
Greetings from not Las Vegas.
But in all seriousness, safe travels to those heading to G2E next week, as I’m sure a good handful of those reading will be making their way to the marquee betting conference.
Unfortunately I won’t be at this year’s event as the president has requested my attendance at the White House, but you can check out this session with my boss instead for equally engaging insights into the topics we frequent in this newsletter.
Without further ado, let’s get into this week’s top stories.
In this week’s edition of Sharpr…
Colorado grants Oddin a preliminary license, deepens esports betting ties.
Australia clamps down on loot boxes, video game gambling.
Rivalry looks to establish the next generation of casino entertainment with Cash & Dash.
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Colorado grants Oddin preliminary license, deepens esports betting ties
Czech Republic-based supplier Oddin has received a temporary license to offer its B2B esports product in Colorado.
The permit will allow Oddin to partner with state-licensed operators to offer esports betting markets to customers.
Colorado’s sports wagering catalog covers most key esports leagues and events, including Dota 2, League of Legends, and Counter-Strike, among others.
The news marks another step forward for Oddin into the North American market where the supplier is also licensed in Ontario and New Jersey.
In a press statement, Oddin CEO and Co-founder Vlastimil Venclick retiterated the company’s focus on the region, saying that the Colorado license was “another major step in our North American expansion strategy,” and notes that there’s more to come.
“We have been actively working on the acquisition of further US licenses to support both existing clients and prospects in the future,” he said.
🔎 Between the lines: All three of Oddin’s North American licenses have all arrived in the last year as the supplier earnestly prioritizes the region – the markets it has entered first however come as little surprise.
New Jersey is known for its progressive gambling regulation and innovation. The Garden State accepted its first-ever legal esports bet in 2019 and had passed the bi-partisan bill A637 in 2021 to include competitive gaming in its legal sports betting industry. More recently, New Jersey regulators granted Esports Entertainment Group a license for its esports-only sportsbook (which faltered in less than a year).
Ontario is home to established esports operators Rivalry* and Pinnacle, and is one of a handful of jurisdictions to truly embrace the segment. Bayes Esports, which holds agreements with a number of top gaming stakeholders, entered the region through a partnership with Bet365 last year. The province hosted the Overwatch League Grand Finals this past weekend and has several franchised esports leagues and companies based there, lending itself to a dense population of fans.
As for Colorado, the state has an extensive list of approved esports leagues and events in its sports wagering catalog (linked above). Just last week, SIS extended its esports product into the state through a deal with Betsafe, while Bayes is also armed to do business through a license secured last year.
To use the words of Play Colorado’s Cole Rush, the sports betting market in Colorado “could be a significant proving ground for companies like Oddin,” as well as the segment broadly.
Australia clamps down on loot boxes, video game gambling
The Australian government has introduced tighter regulations around loot boxes and other gambling-adjacent content online in its national framework.
Starting September 2024, video games including randomized in-game purchases will receive a ‘mature’ rating in Australia, meaning the titles are not recommended for players under 15-years old.
Online games which contain simulated gambling, such as free-to-play casino and table games, will be restricted to adults only, 18-and-over.
The government referenced research that found young people who played simulated gambling games are 40% more likely to gamble as young adults when announcing its updated guidelines.
Michelle Rowland MP, the minister for communications, said “The government is determined to protect vulnerable Australians from gambling harms – including children who may be exposed to gambling through video games.
“These changes represent another step in our work to modernize the National Classification Scheme so that Australians can make better informed choices about what they – and those in their care – watch, read and play.”
Rivalry looks to establish the next generation of casino entertainment with Cash & Dash
Millennial and Gen Z-focused operator Rivalry has released Cash & Dash, a new original game designed to establish “the next generation of casino entertainment.”
Developed internally by a team with past stops at Xbox, Nintendo, and Ubisoft, Cash & Dash sees players infiltrate a high-security bank, steal the treasure, and escape.
The exclusive title features an array of Rivalry’s original IP, allowing users to play as its viral chicken character while enhancing the connection between product and brand.
Cash & Dash leans into tried-and-true strategies from the video games industry to drive long-term player engagement and satisfaction, including offering players additional content like new playable characters, custom maps, and more through expansions and limited-time events.
CEO & Co-founder Steven Salz pointed to the opportunity for product innovation in the betting space and why Rivalry is investing in original game development in a press statement.
“Online betting is still far behind other forms of entertainment from a product standpoint. We see a growing opportunity to create betting products that are strikingly fun, interactive, and engaging, and our original games are a big step in that direction.”
Cash & Dash is Rivalry’s second-ever original game, following the release of Rushlane in 2021.
(Disclaimer: I am a full-time employee of Rivalry)
🗞 In the news
Esports Entertainment Group has inked a deal with Delasport for sports betting integration.
The Esports Integrity Commission has accused a top Counter-Strike player of match-fixing.
PandaScore’s Oliver Niner outlined how the release of Counter-Strike 2 will impact its betting segment.
📈 By the numbers
The FanDuel and DraftKings duopoly has only strengthened with the two brands commanding 62% of GGR share in the US, up 12% year-over-year.
Counter-Strike 2’s opening week brought in 1.4M players.
Epic Games is cutting roughly 900 employees in a big round of layoffs.
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All figures are quoted in US Dollars at the current exchange rate unless otherwise specified.
*Disclaimer: I am a full-time employee of Rivalry