Connect with us

Industry News

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

Published

on

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.

Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of LiteLink Technologies Inc.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

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

Continue Reading

Industry News

mkodo granted Associate Membership to World Lottery Association

Published

on

By

mkodo granted Associate Membership to World Lottery AssociationReading Time: 1 minute

 

Digital user experience expert mkodo has been granted an associate membership to the World Lottery Association (WLA) in recognition of its status as a respected supplier to the global lottery sector.

As a member of the WLA, mkodo agrees to uphold the highest standards and ethical principles set out by the association to advance the interest of its members.

The WLA is the international trade organisation of state-authorised lotteries and suppliers to the global lottery and gaming industry and currently has 148 Lottery Members and 73 Associate Members from more than 80 countries, spanning six continents.

mkodo has almost a decade of experience from providing its apps and digital user experiences and services to WLA member lotteries including Canada’s Atlantic Lottery Corporation and the British Columbia Lottery Corporation.

The WLA Executive Committee approved mkodo’s membership at the association’s most recent meeting in Naples, Italy on 9th of May.

Stuart Godfree, CEO and co-founder of mkodo, said: “We are thrilled to become a member of the WLA and to be recognised as a trusted partner to the global lottery sector.

“We look forward to working together with the association and its members and to share knowledge and experience to ensure that best practices and standards are upheld in the lottery industry.”

mkodo will attend the 10th European Lottery Congress in Antwerp, Belgium, between May 26th-29th and will also be at La Fleur’s 2019 Montreal conference which will be held June 25th-27th.

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: mkodo granted Associate Membership to World Lottery Association

Continue Reading

Industry News

Playson signs major deal with Kindred Group

Published

on

By

Playson signs major deal with Kindred GroupReading Time: 1 minute

 

Slot supplier to provide titles to online operator’s multiple brands

 

Casino software developer Playson has signed a landmark agreement to launch its games across the sportsbook and casino brands run by Kindred Group.

The international operator will have access to more than 50 titles, including 3 Fruits Win and Vikings Fortune, as well as the provider’s gem games which have proven to be a hit with players.

Kindred has licences in a number of regulated markets across Europe including the UK and Sweden, and the deal places Playson’s products in front of a huge new audience.

Blanka Homor, Sales Manager for Playson, said: “We’re delighted to announce our partnership with Kindred, and are very pleased to be growing our global footprint with such a respected operator.

“We look forward to a long and productive relationship, and we are confident our current titles and the exciting ones we have in the pipeline will really engage its players in different countries.”

David Robertson, Head of Casino for Kindred Group, said: “Playson has been building an excellent reputation as a games provider and we’re thrilled to be able to offer its comprehensive games portfolio to our customers.

“It is a supplier to watch without a doubt and has clearly demonstrated its ability to provide quality content. We’re excited to see what our future partnership holds.”

 

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: Playson signs major deal with Kindred Group

Continue Reading

Industry News

Sightline Joins Forces with Responsible Gaming Solution GameSecure

Published

on

By

Sightline Joins Forces with Responsible Gaming Solution GameSecureReading Time: 2 minutes

 

The partnership aims to connect payment solutions and a centralized real-time self-exclusion database for increased player protection

 

Las Vegas-based Sightline Payments (“Sightline”) and Vancouver based Bencon Technologies Inc. (“Bencon”) have entered into a partnership to bridge the current technological gap between digital self-exclusion functions and payment services. The goal of the partnership is to ensure at-risk patrons are denied access to content or payment services in real-time.

The first quarter of 2019 has resulted in a number of violations of self-excluded patrons gaining access to content in the US market, meaning regulator fines have been issued to non-compliant operators, unfortunately, the damage to the patron is already done. GameSecure’s real-time database solution will ensure these patrons do not gain access to digital content once self-excluded and by partnering with  it creates another barrier to a patron’s payment activity.

“The Sightline team has been committed to responsible gaming for more than 20 years and we are very excited to announce this important partnership,” said Cameron Conn, Co-Founder of Bencon Technologies Inc.

“We strongly believe there is not a singular solution to completely address all aspects of player protection and responsible gaming, however, partnerships like these allow for better solutions that will give continued insights into at-risk behavior for improved responsible gaming programs.”

“Sightline is in a unique position because our Play+ ecosystem, in the US, connects to nearly 100% of all digital platforms and 90%+ of all casino management systems, allowing for a uniform capability for a network-wide self-exclusion program through our SPAN Network,” said Kirk Sanford, CEO and Founder of Sightline Payments.

A primary goal of the partnership will be to work with the responsible and problem gambling communities to ensure these new solutions will work to enhance future programs for player protection.

“The Responsible Gambling Council is pleased to hear about the partnership between GameSecure and Sightline.  We believe that safeguards are imperative to the success of any self-exclusion program,” stated Shelley White, CEO of Responsible Gambling Council in Canada.

Keith Whyte, the Executive Director of the US National Council on Problem Gaming adding: “Congratulations to Bencon and Sightline for this step to further integrate responsible gaming into payment methods for the industry.  Streamlining player protection is an important goal for the National Council on Problem Gambling, and we are pleased to support this innovative effort.”

“Self-exclusion programs have been in existence for years with the on-premise ATM providers, however, until now nothing has existed for the digital world which is where the industry is moving,” added Sanford.

Bencon is currently working with multiple jurisdictions in the United States (and internationally) to integrate GameSecure into their Responsible Gaming Programs.

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: Sightline Joins Forces with Responsible Gaming Solution GameSecure

Continue Reading
Advertisement
NSoft

Trending