Luckbox draws 144% net gaming revenue increase in August
Sharpr is a weekly newsletter covering the intersection of esports and betting
Hi everyone, Cody here, and sorry I’m running late.
Today’s the first time I’ve published the newsletter on a Friday, which ends my perfect record of a dispatch every Thursday morning since I launched Sharpr in January, but is also kind of cool to think I made it this far without missing a beat yet. I’ll look to stay committed to Thursday mornings moving forward, but hey—life needs to come first—especially as an independent Substack writer (somebody sponsor me pls).
Anywhere, I’m here with a few key stories from the week and as always, some cool data to sink your teeth into.
Let’s jump in.
In this week’s edition of Sharpr…
Luckbox draws 144% NGR increase in August.
Parimatch strikes partnership with 00Nation.
GRID Esports receives IBIA data standards accreditation.
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Luckbox draws 144% net gaming revenue increase in August
Real Luck Group, the parent company of esports betting platform Luckbox, has revealed that its net gaming revenue (NGR) increased by 144% in August, while player deposits grew 197%.
CEO Thomas Rosander says the figures represent a “successful transition from product development to the player acquisition phase” of the business.
The company is developing a micro-betting product for traditional sports and esports that is being shown to select partners and prospective customers.
In May, Luckbox outlined its strategy to prioritize user acquisition following minimal FY 2021 results, where the company netted just $19,787 in revenue. Rosander said the company would make a more concerted push behind acquisition after “optimizing marketing spend and player value” in 2021.
In the shareholder letter, Rosander noted that the company’s KPIs were “understandably small” to begin with, that its focus will be on a growth balance balanced against a healthy return among player marketing spend—a key focus that the broader sports betting industry has been tuning over the last several months amidst profitability pressures.
🦈 Sharpr Take: The triple-digit percentage increase in NGR and deposits is a welcome start to Luckbox’s pursuit of building its customer base and profits.
The company has undergone a series of key changes in the last two years, starting with its former CEO of three years Quentin Martin stepping down in May 2021. Since then, under Rosander’s command, Luckbox has announced its intent to pursue additional licenses in the U.S. and Canada, partnered with online casino supplier Microgaming, and signed a marketing agreement with Raketech.
Luckbox is certainly laying out a lot of the foundational work to set itself up for success – now, it just needs to deliver.
Parimatch strikes partnership with 00Nation
Parimatch has secured a partnership agreement with multinational esports organization 00Nation.
Parimatch will receive logo placement on the chest of 00Nation jerseys and across the organization’s digital channels and content.
The partnership arrives as the organization’s Counter-Strike: Global Offensive team gears up to compete in qualifiers for the IEM Rio Major.
00Nation features several top Brazilian esports stars including Epitácio "TACO" de Melo and Marcelo ‘coldzera’ David, who was named an Parimatch ambassador in 2021.
The deal is far from the first for Parimatch, which has been activating in esports since 2018. Parimatch has partnered with some of the top teams in the space, including Virtus.pro and Fnatic, as well as sponsored key events, such as Dota 2’s Omega League and more recently, the Champion of Champions Tour Brazil.
The Ukrainian bookmaker was also a long-term partner of Russian organization Team Spirit, but terminated its partnership in March due to the ongoing conflict between the two nations.
GRID Esports receives IBIA data standards accreditation
Esports data platform GRID has become the first esports company to receive a data standards accreditation from the International Betting Integrity Association.
GRID will join the likes of other IBIA accreditation holders, such as Sportradar and Stats Perform.
The accreditation is reserved for companies that comply with IBIA’s three principal standards: data collection processes, data integrity, and personal vetting and training.
IBIA CEO Khalid Ali said the company’s induction “is an important milestone in the evolution of the Data Standards accreditation.” Ali added that the recognition represents “a high level of integrity in the collation and distribution of esports data, and provides reassurances to prospective partners that its data is of a “high level of reliability and accuracy.”
🗞 In the news
DraftKings and ESPN are reportedly close to signing an exclusive deal.
Rivalry receives RG Check Accreditation from the Responsible Gambling Council.
An oral history of the “tortured relationship” between Twitch with casino livestreams.
📈 By the numbers
Esports betting will grow at a CAGR of 18.6% over the next 10 years.
Saudi Arabia will invest $37 billion into gaming.
The VALORANT Champions Grand Finals were the most-watched esports tournament in September, courting 1.5M peak viewers.