- U.S. High Court opened door to state-by-state legalization of sports betting on May 14
- Mobile gaming surpassed $50 billion mark during 2017; illicit sports betting estimates are far higher
- Consorteum poised to take advantage of potentially explosive market with flexible Universal Mobile Interface™ technology
The Supreme Court’s May 14 ruling that delivered a states’ rights victory to advocates of sports betting (http://nnw.fm/xU7Cn) also notched up wins for companies that have maintained multi-jurisdictional presences for online sports wagers, as well as the companies that supply them with the tech, oversight and marketing services they need to operate (http://nnw.fm/h1jLo). Mobile connectivity player Consorteum Holdings, Inc. (OTC: CSRH) has built its reputation on developing and delivering end-to-end solutions for players in the fintech and data analytics industries, but this month’s announcement that its first app to market is a tool to help cricket sports betting fans analyze statistics and predict outcomes for their favorite cricket teams and players (http://nnw.fm/yUO91) shows that the company is at the forefront of a potentially explosive market.
Nearly 60 million people in the United States and Canada participate in fantasy sports leagues, many of which involve money wagers, according to Chicago Tribune estimates (http://nnw.fm/Tn2aU). About half of all American adults say that they’ve bought lottery tickets during the past year, and some 81 million people patronized casinos last year, according to the report. That shows the growing acceptance of gambling since the days when violent gangsters ruled the black market for all forms of betting — whether in Nevada, where it was legal, or elsewhere in the nation, where it was not. Nowadays, gamblers can find casinos in 40 states and lotteries in 44, but until the ruling by the High Court on athletics wagers, sports betting remained legal only in Nevada.
Now, media outlets are touting the expansive potential for a market that already sees $150 billion per year in illegal sports betting in the United States. A CNBC economist disputes the figure, arguing that $67 billion would be a more realistic estimate (http://nnw.fm/x0Q9s) based on comparisons with the current legal betting going on in the United Kingdom, but either way, the enormous size of the market potential is evident. Even as the May 14 ruling was being delivered to news reporters, stocks tied to gambling and sports betting began to surge worldwide, and Churchill Downs Inc. announced a day or two later that it would parlay its experience with online horse race wagering to gallop into the sports betting industry (http://nnw.fm/8QJp5).
Consorteum Holdings’ first Edgelytics™ predictive analytics mobile app is focused on the game of cricket, which is far from a major sport in the United States but enjoys one of the largest fan bases in the world nonetheless, second only to soccer. The app is expected to be available this summer on all Android and iOS devices, mining historical statistics and providing artificial intelligence to help fans make scientifically more likely predictions about the future performance of “their” athletes.
The app will provide Consorteum with valuable insight on consumer use as the company anticipates its next release. Consorteum’s central product, its Universal Mobile Interface™ (UMI) is a modern-tech platform designed to integrate any stream of data onto a mobile platform. After remarkable growth in the worldwide gaming market last year, mobile devices established themselves as a noteworthy influence by comprising nearly half of the total gaming market’s access platform (http://nnw.fm/6g09W).
“Exactly 10 years ago, the launch of the iPhone ignited a revolution in games, creating a new market segment that is this year worth around $50 billion. The past years have seen the rise of esports, taking the already popular activity of viewing game video content to a professional level. … Underlying this success are the tools given to consumers to create and share their own experiences around their favorite game franchises,” a November article in Newzoo states (http://nnw.fm/50uQC).
For more information, visit the company’s website at www.Consorteum.com
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