EGR Power 50 2021: Ones to watch
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Low6
UK-based gamification tech company Low6 struck some high-level partnerships across the US sports landscape in 2021, bringing its custom-branded free-to-play (F2P) pick’em products to a handful of professional teams and leagues. The flurry of deals was highlighted by partnerships with the NFL’s Jacksonville Jaguars and Cincinnati Bengals, which preceded the announcement of its first NBA tie-up with the Detroit Pistons in November. The emerging start-up also landed the innovation of the year award at the EGR Marketing and Innovation Virtual Awards in June, as well as rising star and virtual and fantasy sports operator at the EGR Operator Awards in November.
Fubo
Its sights set squarely on the streaming sports fan, Fubo used 2021 to strategically align its chess pieces as it looks to carve out a slice of the US sports betting pie. The streaming television service closed its acquisition of sportsbook start-up Vigtory and launched its Fubo Gaming subsidiary in January. Following that came a series of market-access deals in New Jersey, Indiana, Iowa, Pennsylvania and Arizona, bolstered by marketing partnerships with the New York Jets, NASCAR, and its first ever NBA partnership with the Cleveland Cavaliers. Fubo topped off a busy year by officially launching the first streaming-integrated mobile sportsbook in November. The $64,000 question is whether Fubo can truly deliver an integrated streaming and betting experience to stand out from the likes of FanDuel, DraftKings and BetMGM.
Sporttrade
Philadelphia tech start-up Sporttrade is striving to shake up the standard betting experience by giving it a distinct stock-trading feel, with its open marketplace platform matching buyers and sellers while featuring tighter spreads than traditional sportsbooks. Founded in 2018, the exchange start-up has already made waves in the space by raising $36m this year, counting former MGM Resorts CEO Jim Murren among its investors. It has also partnered with Nasdaq to leverage the stock exchange’s end-to-end market technology for integrity-monitoring purposes. Licensed in New Jersey and Colorado, Sporttrade intends to launch in Q4 2021.
Fanatics
With its roots in sports merchandising, Fanatics is a relative neophyte to the juggernaut that is sports betting. However, the firm, valued at $10bn in September, has set its stall out to remedy this with key moves in 2021. The first of these was the unexpected recruitment of FanDuel CEO Matt King in June, followed in August by a declared interest in seeking a New York sports betting licence in partnership with Roc Nation founder and Grammy Award-winning rapper Jay-Z, although this has since been rejected by the New York State Gaming Commission. Consistently linked with a move to acquire another US business, Fanatics is committed to its strategic diversification, even going so far as to file for a US patent for both igaming and sports betting intellectual property. Speculation is rife that Fanatics’ switch to sports betting could be facilitated via M&A.
MrQ
Launched in August 2018, MrQ was created by Lindar with an aim to bring new life into the world of online bingo. At the time of its debut, it was billed as the first new bingo site to launch in-house-developed software in more than five years. In July, MrQ launched its first TV ad, featuring comedian Joe Wilkinson, in the UK to increase brand awareness. Known for being technology-minded, the casino and bingo operator rolled out open banking to selected customers in May 2021 and is in the process of building native iOS and Android apps. This small and nimble operator has a lot to offer in 2022 with the unveiling of a rebrand, product enhancements and customer data empowerment, culminating in its worthy win as slots operator at the EGR Operator Awards in November.
Novibet
Winner of in-house product at the 2020 EGR Operator Virtual Awards and with judges’ praiseworthy comments including, “An impressive in-house platform with demonstrable impact on player numbers and engagement,” Novibet is not one to overlook. Since 2010, Novibet has been offering online sports betting and casino games in many major markets including Greece and the UK. The operator boasts its own proprietary betting single-page application platform, as chief technology officer for Novibet Sotiris Haritos explained: “Having our own proprietary gaming platform is unquestionably the result of exceptional and devoted hard work.” The operator was awarded a highly commended accolade for mobile operator at the 2021 EGR Operator Awards.