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Esports Tournaments Look to Digital Payments to Fix Delayed Prize Money Payouts

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Esports Tournaments Look to Digital Payments to Fix Delayed Prize Money PayoutsReading Time: 7 minutes

 

FN Media Group Presents Microsmallcap.com Market Commentary

 

The Esports industry is growing exponentially, but there’s one catch. With prize pools for Esports tournaments hitting the tens of millions, players of games such as Fortnite run by Tencent Holdings Ltd. backed Epic Games, are not getting paid on time. Esports payments present an enormous opportunity with a lack of fast and cost-effective payment options being available. Platforms such as PayPal are angling to be the preferred payments solution for global gaming events, recently announcing a partnership with Ubisoft for the 2019 Pro League Sessions of Rainbow Six Siege. E-gaming streaming also accounts for a big chunk of that business, including mini-donations made to Twitch users via Amazon payments. Having recently entered a strategic partnership with online Esports media giant Enthusiast Gaming Holdings Inc. , LiteLink Technologies Inc.’s wholly-owned subsidiary uBUCK Technologies SEZC is on the verge of disrupting the payment sector of the Esports industry by offering a truly fast payment option that also allows saving on payment fees.

Payment Delays Plague Esports

Industry watchers agree that Esports is about to be the greatest opportunity for investors this side of cannabis. Estimates from Newzoo have projected the global Esports market to easily top $1-billion by this year, and then go on to speed past $1.6 billion by 2021. Meanwhile, the global Esports audience is projected to grow to 453.8 million worldwide this year, a 15% year-on-year growth figure.

Sponsorships and prize pools have swelled as a result. The first Fortnite World Cup held by Tencent Holdings’ Epic Games on June 26-28, 2019, will be putting up a whopping $30 million dollar prize pool to 200 qualifying players — each of whom will walk away with at least $50,000. These phenomenal prize pools have drawn world-class competitors from all over the world. Yet with all that money flying around to far-flung bank accounts, transaction and wiring fees have also escalated dramatically, and so has delays.

These problems can now be avoided with Streambucks, developed by LiteLink Technologies Inc.’s subsidiary uBUCK Technologies SEZC – a globally accessible decentralized digital wallet and P2P online payments platform that offers a stable token with a pin voucher solution, that serves as an attractive payments alternative for Esports tournaments and Egaming streamers.

Payment services such as Paypal have taken notice of the increased business in the Esports sector, partnering with game developers such as Ubisoft to get in on the action. As the official payment platform partner for Ubisoft’s Tom Clancy’s Rainbow Six Pro League and Majors, Paypal is acknowledging the reality that gaming now accounts for more than $12 billion in Paypal’s total global payment volume. Yet Paypal has its drawbacks which include high fees, payment delays, and potential account suspensions – not to mention the prerequisite requirement of having a bank account to use the platform.

Secure cross-border payments have also become a persistent pain point in the world of Esports, with some organizers reported to be struggling with the exorbitant global wire fees charged by banks, PayPal and other money transfer services. This has led to inexcusable delays. Players from this January’s Fortnite Australian Open Summer Smash event, for instance, still haven’t received their prize money from Tencent Holdings Ltd. backed Epic Games, and according to Reddit, 25 players are still short of AUD$187,000 out of a combined AUD$500,000 prize pool.

This is far from an isolated incident. Many Esports players have complained all over Reddit boards and Twitter about their payments being delayed, even from known organizations. At times, entire tournaments, such as the Electronics and Games Expo in Cape Town held last year, have been skipping over winnings. In a majority of these cases, organizers have blamed administrative problems for payment issues.

Secure, Fast And Free Worldwide Transfers

LiteLink Technologies Inc.’s (LLT-LLNKF) deal with Enthusiast should put Streambucks squarely in the Esports firmament, and shake up a nascent sector. Under the terms of the letter of intent, uBUCK Technologies SEZC will serve as an official sponsor for Enthusiast’s EGLX tournament events, with uBUCK’s “Streambucks” digital payment solution acting as its payment remittance and funds transfer partner for Canada’s largest video game expo, an event that drew in 55,000 attendees last year. uBUCK will also facilitate the transfer of the prize funds to the winners of the tournament.

Under this arrangement, Enthusiast will now be able to transfer Streambuck cash to vendors, tournament winners, and business associates from around the world without having to pay a single cent in transfer fees. With a reputation for fast, near-instantaneous payments, the top players should flock to the EGLX event from all over the world, bolstering this prestigious event even further.

Overseas payments have always been a sore spot for businesses and gamers, which is why the Streambucks platform will completely rewrite the rules. Unlike blockchain-based cryptocurrencies, Streambucks is truly democratized and accessible to mainstream users. Eliminating these costly fees and long processing times should go a long way to ensuring that tournament winners and participants are paid fast and without hassle.

Streambucks is also built on the decentralized, distributed ledger platform of Waves blockchain, known for its record-breaking speeds, while enjoying the same security as cryptocurrencies but with none of the volatility of crypto. That’s because Streambuck cash is a U.S. dollar-backed stable token, unlike popular cryptocurrency coins and tokens which can fluctuate wildly as they’re traded primarily by speculators on digital currency exchanges. Streambuck cash, on the other hand, is neither mineable nor tradeable, and its value is backed by the U.S. dollar through pin voucher sales.

The Disruptive Fintech Of Streambucks

The growth potential for Streambucks within Esports is limitless. uBUCK’s deal with Enthusiast goes far beyond just payments for events, covering streaming and other online gaming activities. The company has agreed to integrate uBUCK’s Streambucks solution on its colossal publisher network, which is currently frequented by 75 million monthly visitors. Enthusiast will receive a percentage of the profits from the uBUCK’s Streambucks user activity.

Enthusiast Gaming Holdings Inc. (TSX-V:EGLX) (OTCQB:EGHIF) has been on the lookout for different ways to monetize its large and enthusiastic base of followers and engage with them across multiple touch points. Streaming services and broadcast is the latest expansion in its services portfolio—and it’s where much of the Esports money is at, with Twitch raking in $1.6-billion in revenue in 2015, the year that Amazon (NASDAQ:AMZN) took over. Much of Twitch’s revenue was generated through mini-donations made through Amazon Pay.

Specifically developed for Esports, Streambucks offers gamers and gaming fans with a seamless and secure way to make online payments, offering a solution that’s designed to beat all potential payment competitors in terms of ease of use, speed, security, and cost.

Streambucks should help to accelerate this growth in Enthusiast Gaming’s streaming revenue, as visitors to its network of sites can now use the Streambucks app to purchase products with Streambuck cash, with a debit card and make transfer payments and donations to streamers and Egamers.

Enthusiast will give Streambucks unprecedented exposure to their large community, helping to advertise the product in areas where there is unsold inventory, as part of its preferred partner pricing strategy. With the largest online gaming network in North America and a sprawling community dedicated and passionate about gaming, Enthusiast Gaming’s tens of millions of gaming visitors is set to help Litelink Technologies Inc.’s (LLT) (LLNKF) uBUCK-developed Streambucks platform become a leading payments contender in the Esports sector, while revolutionizing digital payments as a whole.

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Source: Microsmallcap.com

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Esports Tournaments Look to Digital Payments to Fix Delayed Prize Money Payouts

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“The Godfather of Esports Racing” Takes Top Step at Millennial Esports

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Darren Cox, Founder of Nissan’s famed GT Academy, now behind the wheel as CEO

Millennial Esports Corp. (“Millennial” or the “Company,” TSX VENTURE: GAME, OTCQB: MLLLF), has appointed Darren Cox as company CEO and President, effective immediately. The founder of Nissan and Sony’s GT Academy, Cox previously served as Nissan’s Head of Global Motorsport. Also the man behind World’s Fastest Gamer, Cox has spent more than two decades immersed in the automotive, motorsport, and gaming industries, earning the moniker “The Godfather of Esports Racing.”

“Darren has proven throughout his career and during his time with Millennial that he is an innovative thinker with an innate ability to get things done,” said Board member Peter Liabotis. “In appointing Darren as CEO, we have not only secured the best man for the job, we have also reaffirmed our commitment to esports racing and marketing data for the growing esports industry.”

Cox made his mark in the motorsport industry as Global Motorsport Director for Nissan and head of Global Sales and Marketing for the Nissan Motorsport Brand. During his time with Nissan, Cox was responsible for the ground-breaking GT Academy program between 2008 and 2015, which took PlayStation gamers and turned them into international racing drivers for the Japanese manufacturer.

Previously, during his 18-year tenure at the Renault Nissan Alliance, Cox held several senior positions including Digital Marketing Director for Europe where he was responsible for, amongst other areas, customer data for marketing. It was in this role that Cox first realized the incredible value of data collection and analysis.

“I have seen the potential of Millennial Esports from day one and am excited to shape the company’s future with the talented group of people we have assembled,” said Cox in welcoming his move from Global CMO and President to CEO and President.

“That future is an unwavering focus on esports racing and data provision for the esports industry as a whole. These are still white spaces with a huge upside in terms of revenue that we can exploit through a combination of my background and our assets, such as our in-house gaming studio Eden Games and our data experts at Stream Hatchet.”

Cox replaces hospitality and technology industry veteran Steve Shoemaker, who has successfully completed his work in restructuring the company. “Steve has done a tremendous job leading the company to focus on its core esports racing and data analytics assets while reducing its overhead cost structure and moving the company towards profitability. We would like to thank Steve for his efforts in positioning the company for its next phase of growth and wish him well in his next endeavour,” said Board member Bryan Reyhani.

About Millennial Esports Corp.
Millennial Esports Corp. (MEC) recently restructured its business and leadership team. MEC now focuses exclusively on two areas – esports racing and esports data provision. With publishing, IP, content, and data expertise in its portfolio, combined with a new board and management team, MEC is ready to lead the rush to profitability in the esports industry.

MEC aims to revolutionise esports racing and the racing gaming genre via its industry-leading gaming studio Eden Games (Lyon France) which focuses on mobile racing games and its unique motorsport IP, including World’s Fastest Gamer (created and managed by wholly-owned subsidiary IDEAS+CARS, Silverstone UK).

Building on the leading position of Stream Hatchet (a Barcelona, Spain-based wholly-owned subsidiary) MEC provides robust esports data and management information to brands, sponsors, and industry leaders. This data allows the esports industry to use this data to monetize the huge number of eyeballs in the gaming and esports space.

SOURCE Millennial Esports Corp.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: “The Godfather of Esports Racing” Takes Top Step at Millennial Esports

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TOM HORN GAMING Content Available In Portugal

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The award-winning, Malta-based outfit is set to expand its business reach into the regulated Portuguese market after the supplier has secured a certification to supply its content to operators in this jurisdiction.

The supplier’s Portuguese offering includes its highly popular titles such as 243 Crystal Fruits, Frozen Queen, or one of the latest additions Sherlock. A Scandal in Bohemia among many others. Tom Horn Gaming will now be able to work with both its existing and new customers who are licensed in Portugal.

Ondrej Lapides, CEO at Tom Horn Gaming commented on yet another milestone in the company’s growth strategy: ‘We have been massively pushing into new regulated markets worldwide and the Portuguese certification ticks yet another box to set our foot firmly in a market with huge business potential. We want as many people as possible to enjoy our games and we look forward to exploring more new ground in Portugal going forward.’

Currently, Tom Horn is compliant to supply its gaming products to operators in the UK, Lithuania, Alderney, Serbia, Belgium, Gibraltar, Latvia, Estonia, Malta, with a multiple new jurisdictions to follow suit.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: TOM HORN GAMING Content Available In Portugal

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Betfred USA and Elite Casino Resorts Sign Agreement for Iowa Sports Betting Operations

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Betfred USA and Elite Casino Resorts Sign Agreement for Iowa Sports Betting OperationsReading Time: 2 minutes

 

World’s largest privately-owned retail bookmaker moves into US market in partnership with Elite Casino Resorts in Iowa.

 

Betfred, the world’s largest privately-owned retail book maker, and premier gaming and resort destination operator, Elite Casino Resorts have executed a technology and operations agreement for Sports Wagering for their Iowa customers.

Subject to regulatory approval Betfred will be offering Elite Casino Resort customers on premise, online and mobile wagering with a full suite of managed products which includes BI/Analytics, Anti-Fraud, Trading, Compliance/GDPR, Customer Support, Payments and Marketing, as well as managed trading operations support. On July 11, 2019, the Iowa Racing and Gaming Commission approved Betfred Sports Iowa, LLC as an Out of State Vendor for Grand Falls Casino Resort, LLC.

With over 50 years of market leading experience in the sports betting industry, as reflected in the over 1,600 retail stores in the United Kingdom, Betfred seeks to bring a best in class sports wagering experience to the customers of Grand Falls Casino & Golf Resort in Larchwood, IA. Said Dan Kehl, CEO of Elite Casino Resorts, “We are excited to offer our guests another world-class product.  With Betfred, Grand Falls Casino and Resort will be the best place in Iowa for sports betting at our casino and on a safe and secure platform.”

Fred Done, Chief Executive and co-founder of Betfred said, “I’m delighted to partner with Elite Casino Resorts in Iowaand we look forward to working with our new partners and sharing our joint expertise in what is a very exciting opportunity and market for Betfred.”

Betfred has partnered with SCCG Management in Las Vegas, led by its Principal Partner, Stephen Crystal, to represent the company in the US Native American and Non-Tribal gaming market development. SCCG is an internationally respected management consultancy focused on global sports betting, esports and the casino entertainment industries.

 

ABOUT ELITE CASINO RESORTS:
Elite Casino Resorts currently owns and operates three premier gaming and resort destinations in Iowa. The Kehl Family of Dubuque, IA, majority owners of Elite Casino Resorts, have been pioneers in Iowa gaming, awarded the first riverboat gaming operator’s license in Iowa on April 1, 1990 for the Dubuque Casino Belle, the first American-flagged vessel to offer gambling cruises in the United States.

ABOUT BETFRED:
The company was founded by brothers Fred and Peter Done who started with just one shop in Salford in 1967. Back then Betfred differentiated itself by offering excellent customer value and excellent service and those principles are still at the heart of the business now. Operating across multiple gaming channels including 1600 retail stores, Online & Mobile, positions the company as a leading gaming technology vendor. Built over years of experience providing industry leading in-person and digital betting services, Betfred is poised for an expansion into the American market through SCCG Management. Headquartered in Warrington in the United Kingdom. Betfred have an extensive sponsorship portfolio including the World Snooker Championship, in golf the British Masters, World Matchplay Darts, Rugby League’s Super League and Betfred is the Official Bookmaker of Royal Ascot.

ABOUT SCCG:
SCCG specializes in the investment in and development of worldwide brands, governmental and regulatory management support, intellectual property, and strategic business development within international land-based casinos, sports wagering, internet gambling, gaming, esports and entertainment markets.

 

Source: SCCG Management, LLC

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Betfred USA and Elite Casino Resorts Sign Agreement for Iowa Sports Betting Operations

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