Unikrn relaunches new platform under Entain ownership
Sharpr is a weekly newsletter covering the intersection of esports and gambling.
Hi everyone, Cody here.
Hope all my U.S.-based readers had a relaxing Thanksgiving last week and got to enjoy a long weekend. I decided to take a few days off myself, including a bye week from the newsletter, to go on an annual winter camping trip with friends in New Hampshire. We climbed Carrigan Mountain in what I surely thought would kill me–but damn–the views were pristine.
Anyway, we have a pretty busy week in the sector led by Unikrn’s resurrection in the space after a year-long hiatus – this time, under Entain ownership.
All that and more in this week’s newsletter – let’s jump in!
In this week’s edition of Sharpr…
Unikrn relaunches new platform under Entain ownership.
Esports betting leads Rivalry to first-ever net profit.
Australia proposes 18+ loot box legislation.
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Unikrn relaunches new platform under Entain ownership
After laying dormant since September 2021, Entain-owned Unikrn has officially relaunched its platform with a new interface built from the ground up and a refreshed brand.
In addition to its esports offering, Unikrn will allow users to wager on traditional sports and casino games.
The platform is available now in Brazil and Canadian provinces as well as territories outside of Ontario.
It’s said Unikrn will explore options to enter new, regulated markets throughout 2023 and in the future.
The refreshed Unikrn platform brings forth a variety of new and classic offerings from the operator. One of those signature offerings is UMode, a player-vs-house offering where users can place fixed-odds wagers on their own gameplay. Apart from its sportsbook, Unikrn will also feature esports virtuals, a head-to-head product, and a rewards scheme that will grant player’s bonuses as they utilize the platform.
Unikrn CEO and Manager Director of Esports at Entain Justin Dellario says the platform’s resurrection was the fruit of the parent company’s labor over since its acquisition last year.
“Over the past year, the passionate team at Entain has worked closely with us to create a safe, accessible, secure and compliant product that players can trust – even if they’ve never placed a bet before,” he said. “The launch of Unikrn in both Brazil and Canada is the first step as we introduce a video games and esports betting platform that truly puts a new generation of players and their passions first.”
Unikrn was initially founded by technology entrepreneur Rahul Sood in 2014 as one of the early esports betting platforms, and has been offline roughly since Entain acquired it in August 2021.
🦈 Sharpr Take: All eyes will indeed be on Unikrn as it steps back into the esports betting ring, either to once again emerge as a leader in this space, or phase out into obscurity as many dedicated operators have.
Apart from the sportsbook offering, there is player-vs-house, player-vs-player, and even esports virtuals. We’re not so sure virtuals are even remotely popular among the esports-focused crowd, but it’s kind of cool to see it being offered with less common suspects like Mortal Kombat and Street Fighter V, and certainly doesn’t hurt to throw it in the mix as part of a building out a well-rounded destination for esports wagering.
From that standpoint, Unikrn seems to be coming out the gates with as much content and features as possible, and that’s a value proposition worth something (assuming everything works).
It will be interesting to see the trajectory of Unikrn from this point on, and whether it can regain a meaningful customer base after being offline for over a year, and what its player acquisition strategy will look like.
Also, we miss the old logo.
Esports betting leads Rivalry to first-ever net profit
TSX-listed sports betting and media company Rivalry revealed its Q3 2022 financial results, outlining another record quarter and its first-ever net profit.
Rivalry reached a record betting handle of $70.3M in Q3, up 203% year-over-year.
Revenue also reached an all-time high of $7.1M, representing a 35% increase from the previous quarter.
Rivalry delivered its first-ever monthly net profit in October, representing a “meaningful milestone” for the company.
CEO Steven Salz says the company’s overarching strategy, which prioritizes esports, internet culture, and creative to build brand equity among next generation consumers, has been key to finding success.
“Our leading brand position among Millennial and Gen Z consumers was a catalyst in generating meaningful revenue from esports betting during a period of several tentpole international events, and ultimately driving record results in the third quarter,” Salz said. “Our differentiated strategy and product offering is key in connecting with a demographic that legacy operators aren’t equipped to serve. We’ve created brand equity, loyalty, and consumer engagement that continue to guide our successful player acquisition and retention strategy, enhance customer unit economics, and highlight the operating leverage within the business that increases as we scale.”
(Disclaimer: I am a full-time employee of Rivalry)
Australia proposes 18+ loot box bill
Australian MP Andrew Wilkie has filed a bill with the local government to make loot boxes illegal for individuals under the age of 18.
The bill would see that all games containing loot boxes be given an R18+ rating to prevent children from purchasing and playing those titles.
In a presentation, Wilkie claimed that 52% of recently released video games contained loot box offerings or mechanics, citing research conducted by the Australia Gaming Council.
Wilkie says the evidence points to “insidious gambling activities” in youth video gaming.
"By tempting young players with the potential-to-win game-changing items, encouraging risk-taking behavior for a possible reward, delivering random prizes on an intermittent basis and encouraging them to keep spending money, it's clear that loot boxes give rise to many of the same emotions and experiences associated with poker machines and other traditional gambling activities," he added.
🗞 In the news
Riot Games has banned 14 players in its Valorant Turkish Academy League for match-fixing.
Luckbox has appointed former ESL Pro League comms director Dave Souza as its head of communications.
Sports Information Services has been awarded Esports Integrity Commission’s Gold Standard certification, the highest achievable accreditation from the organization.
📈 By the numbers
Americans wager $63.8B with illegal bookies and offshore sportsbooks each year, equivalent to nearly 40% of the U.S. sports betting market.