Minneapolis-based online technology company SharpLink Gaming is now authorized to provide sports betting conversion solutions and affiliate marketing services in 12 US state jurisdictions where online sports wagering has been legalized, the business announced on Tuesday.
The company, which specializes in data-driven conversion solutions for the US sports betting and iGaming industries, has been cleared to reach 59% of the legal sports gaming market, with permission to operate in 12 states and D.C.
The states in which SharpLink has secured authorization include Colorado, Illinois, Iowa, Montana, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, West Virginia, Wyoming and Washington, D.C.
— SharpLink Gaming (@SharpLinkGaming) March 2, 2022
Additionally, the tech company is also “in the later stages” of the licensing process in four more US states. These include Arizona, Louisiana, Michigan and Virginia, according to a press release statement.
“Expansion of our state license portfolio and ensuring ongoing legal compliance is and will remain a mission-critical aspect of our business and is central to our growth strategy and long-term success,” said Rob Phythian, Chief Executive Officer of SharpLink.
The CEO further said he and the company remain very pleased with the team’s progress in navigating the “highly complex” state licensing environment and expects that, over the course of this year, SharpLink will prevail in winning licenses “in every state where online sports betting has been legalized.”
According to latest reports, $6.92 billion were wagered in legal sports betting states last December. The total betting handle for the 12 states and Washington, D.C. in which SharpLink is now cleared to operate reached over $4.07 billion. This represents about 59% of the legal sports betting market reported for the month, the company explains.
“It is also important to bear in mind that while there continues to be tremendous momentum behind state legalization of sports betting, approximately 70% of the U.S. population still cannot make legal online bets at this time,” added Phythian. “While generic ads and promotions may garner sports bettors in legal betting states, this approach to user engagement disregards those in non-betting states and provides those potential customers no direct call to action.”
Contrarily, free-to-play games extend to all states, regardless of legal betting laws, and can be applicable to all sports media, leagues and teams. This, in turn, helps build brand recognition and loyalty, Phythian claims.
— SharpLink Gaming (@SharpLinkGaming) February 2, 2022
“When more states ultimately legalize online sports betting, major sports media companies, leagues and teams who have long relied on SharpLink to create and operate free-to-play and fantasy sports games will benefit from having built-in bases of prospective bettors who are learning through gameplay and sports betting simulations how to place real bets using real dollars,” the executive stated.
The importance of F2P games for the sports gaming industry has long been defended by the SharpLink CEO. “The value of free-to-play and fantasy sports games in converting sports fans to bettors is key in the US market,” Phythian told Yogonet in an exclusive interview held last month. “Leveraging our modern technology to convert US fans that are fantasy sports-centric will be what clearly differentiates SharpLink in the industry,” he also commented at the time.