Fact checked by Wilbur Thompson.
Elys Game Technology has set the third quarter of this year as the timeline for the release of its online sportsbook platform in Canada. The B2B gaming and sports betting technology company has made “significant progress” on its North American online channel strategy and preparations, and also anticipates the platform to go live in several US markets in Q3. The mobile apps will be available in both iOS and Android versions on a platform that is “state-of-the-art” and certified by GLI-33, with a wide range of customization tools and “rigorous” cybersecurity features.
According to Michele Ciavarella, Executive Chairman of Elys Game Technology, since the repeal of the Professional and Amateur Sports Protection Act in 2018, the US market has been gradually taking shape, and the liberalization of the market has led to greater market opportunities with legislative changes in Canada as well. Elys has taken this early-stage opportunity to analyze market behaviour and to better understand what North American sports bettors want instead of rushing to gain market share in uncharted spaces. He explained that the company’s patient, methodical approach, and years of data analysis would result in a highly intuitive sportsbook and iGaming product line-up.
Elys’ aim is to become a “global leader” in the gaming industry through the “development of pioneering and innovative technology.” The company currently has B2B operations in the District of Columbia and five states in the US. Elys announced partnerships in both online and retail deployments in North America, which have been instrumental in developing their new mobile product. It enables Elys to offer the largest range of events combined with the most competitive odds and player tools available in the US, to rival top competitors currently in the North American space.Elys revealed a net decrease in reported turnover of $95.88m from $1.12bn to $1.02bn in its results for the 2022 fiscal year earlier this month. However, amid investment in US expansion through technology and licensing strategies, Elys’ “go-to-market strategy” for its first full year of US-facing operations “reflected remarkable service-based revenue growth” of 150.2%, or $2.14m to $3.48m. Ciavarella expects to provide additional information over the coming months as Elys moves forward with state-by-state and tribal openings throughout the year.