LeagueSafe Reports Overall Number of Entry Fees from Fantasy Football Leagues Are Up Over 30% Compared to 2022/2023 Season
MINNEAPOLIS, MN / ACCESSWIRE / September 5, 2023 / SharpLink Gaming Ltd. (NASDAQ:SBET), a pioneer of targeted, data-driven fan activation and conversion solutions for the U.S. sports betting and iGaming industries, today announced the successful launch of LeagueSafe's new, highly rated mobile app, with over 16,000 downloads by fantasy sports players since the app's debut in Google Play and the Apple App Store in early August.
Prior to the launch of the new mobile app, more than 600,000 users have subscribed to LeagueSafe's services via its website, found at www.leaguesafe.com, which has processed more than three million transactions since its inception in 2008. As kickoff of the 2023/2024 NFL regular season fast approaches, LeagueSafe has already collected over $22 million in entry fees from fantasy football leagues across the nation, which is up over 30% compared to approximately $18 million in payments collected in 2022.
Acquired by SharpLink in connection with its merger with SportsHub Games Network in December 2022, LeagueSafe was created with the goal of simplifying and automating the last remaining hassle in private fantasy sports league administration: finance management. Since its founding, LeagueSafe has become the most trusted source for collecting and protecting season-long fantasy league dues and payouts of winnings via proven, secure online and mobile platforms.
LeagueSafe's primary goal is to simplify fantasy league management for private fantasy league commissioners. In addition to empowering fantasy leagues to quickly and easily collect entry fee payments online and safeguard league fees throughout the season, LeagueSafe offers transparency of league finances to fantasy team owners, gives owners the opportunity to validate their commissioners' intended payouts, and sends payment reminders to unpaid owners as the season approaches, alleviating many of the headaches league commissioners face as they organize their leagues. League commissioners can allocate payouts within hours of the end of the season, and league members can receive their winnings immediately using one of several payout delivery options. No credit card or bank account information is stored on the site or the new mobile app, and each transaction is a one-time event. LeagueSafe generates revenue through the collection of interest earned on the dues held in its wallet system. After the season ends, users can elect to leave their winnings in their wallets for future use or request payouts at any time. LeagueSafe supports players engaged in all fantasy sports, including fantasy football, baseball, basketball and hockey, with fantasy football comprising the largest audience of users.
The recently launched mobile app allows commissioners to create and manage their leagues and makes it easy for league members to view their league information and make entry fee payments online. Private fantasy leagues drafting in-person or online with their league mates can be paid up and ready for the season in a matter of minutes using the QR code-enabled invite system included with the app. The app also includes free-to-play games, including a weekly single player fantasy football prop game for the upcoming NFL season. Users who make the most correct selections from a group of 7-10 fantasy football themed questions each week are eligible for weekly prizes.
According to Mordor Intelligence, the Fantasy Sports market size is expected to grow from $26.98 billion in 2023 to $49.53 billion by 2028. The global research firm suggests that the increasing popularity of players, the emergence of sports leagues, growing investment in digital and Internet infrastructure, and the launch of fantasy sports apps as other means to connect with their favorite sports are some factors driving the market's dynamic growth.
"With its proprietary audience of users and volume of collected entry fees both trending upward, LeagueSafe is expected to be a significant contributor to SharpLink's future success, helping us to advance on our core objectives associated with audience aggregation, fan engagement and positive financial performance," stated Rob Phythian, Co-Founder and Chief Executive Officer of SharpLink. "The growth momentum behind LeagueSafe is a direct result of the concerted efforts of SharpLink's collective business units working to expand awareness of LeagueSafe's services among millions of U.S. sports fans, who love the social interactions and competition with friends, family, and co-workers, the low cost/high reward offered by fantasy sports gaming and the thrill of victory when they win."
About SharpLink Gaming Ltd.
Founded in 2019, SharpLink is a leading online technology company that connects sports fans, leagues and sports websites to relevant and timely sports betting and iGaming content. SharpLink uses proprietary, intelligent, online conversion technology to convert sports fans into sports bettors for licensed, online sportsbook operators. In addition, SharpLink specializes in helping sports media companies, leagues, teams and sportsbooks develop strategies, products and innovative solutions to drive deep fan activation and engagement with highly interactive free-to-play games and mobile applications. Further, SharpLink owns and operates a variety of real-money fantasy sports and sports simulation games and mobile apps on its platform; and is licensed or authorized to operate in every state in the United States where fantasy sports and online sports betting has been legalized. SharpLink's proprietary fantasy sports platform reaches more than two million fantasy sports fans who spend almost $40 million annually on its portfolio of digital gaming experiences and contests. For more information, please visit the SharpLink website at www.sharplink.com.
This release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the expected growth in the online betting and iGaming industries, the Company's ability to grow its business, the potential benefits of the Company's products, services and technologies and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, government regulation of online betting, customer acceptance of new products and services, the demand for its products and its customers' economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company and its competitors, general economic conditions and other risk factors detailed in the Company's annual report and other filings with the United States Securities and Exchange Commission. The Company does not undertake any responsibility to update the forward-looking statements in this release.
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