Vancouver-based iGaming and sports betting company FansUnite is hoping to be a significant part of Canada’s sports betting market moving forward. But, in what is sure to be a saturated field, CEO Scott Burton has suggested the firm is likely to focus on its role as a technological solutions provider rather than entering as an operator in its own right.
While FansUnite’s hugely successful McBookie sports gambling website in Scotland accounted for 92 per cent of the company’s $1.07 million in reported revenue last quarter, Burton does not believe a Canadian replication of that offering is necessarily the best step forward in a sea that will be full of whales.
“You’ve got some very big brands that have extremely big budgets, and spend a lot on customer acquisition,” Burton told Yahoo Finance Canada. “They’re willing to go quite some time losing money on their users just to get the biggest piece of the pie. That doesn’t necessarily play well for a Canadian small cap like ourselves.”
In a Canadian market where major companies are looking to offer betting, esports, and online casino experiences, Burton said he would rather sell the company’s technology to big gaming operators than compete directly against them.
“We do see a big opportunity in the technology provision side of things. Let the other operators like FanDuel and DraftKings and MGM and Penn Gaming in the U.S. go at it on the direct-to-consumer front,” added Burton. “If it doesn’t look like we’re going to be a technology provider to anyone significant in Canada, then we’ll probably look to enter directly ourselves… There may not be a big advantage to the Canadian groups, other than the ones that already own the media. Groups like Rogers and Bell, I think they have a good shot at capturing good market share.”
FansUnite offers a unique platform for sports and esports, encompassing pre-match betting, in-play betting, daily fantasy content, as well as a certified random number generator to produce casino-style games. With that tech, it was recently nominated for EGR North America Awards in the category of best sportsbook platform provider and the new category of full-service platform provider.
Armed with that solution, it has made some headway in recent months since joining the Canadian Gaming Association in November 2020, making its first entries into the booming U.S. market in recent months with a focus on esports.
In a seminal move in December, the company partnered with GameCo, US Bookmaking, and Sky Ute Casino to create the first dedicated eSports sportsbook in the United States. That has been followed by link-ups with other companies including OneComply, CashLive, and Money Line in recent months.