OneComply Inc. will assist FansUnite Entertainment with obtaining all the necessary licenses required to enter the booming US online gambling market.
OneComply Inc., a leader in licensing and compliance, has entered into a deal with the Canadian sports entertainment dynamo, FansUnite Entertainment. The deal will see OneComply offer assistance to FansUnite, to help them navigate the often-tricky North American gaming jurisdictions.
Penetrating the North American Market
The deal comes on the heels of FansUnite’s acquirement of a leading Canadian e-sports and gaming company, Askott Entertainment, on 11 August 2020. The purchase entrenched FansUnite on the Canadian market, making it one of the largest sports betting and online gambling providers locally.
FansUnite CEO, Scott Burton, noted: “We are thrilled to be partnering with OneComply. With their help, we will streamline the difficult and nuanced process of entering an entirely new legal jurisdiction and be able to showcase our gaming solutions to a broader audience”.
Booming North American Online Gambling Market
Despite the ongoing impact of the novel coronavirus pandemic, the North American online gaming and gambling market is booming. The market value currently stands at close to US$60 billion, and this figure is expected to double in the next couple of years. Expectedly, this has attracted the attention of market players from across the globe.
The exponential market growth is even more impressive by the fact that the industry segment is still very young. The recent US government decision in 2018 to revoke the Professional Amateur Sports Protection Act initiated a wave of legalisations across the country, with many more states expected to follow suit this year.
Even though these markets are attractive, the process of acquiring an operating license is on an individual state basis and is often pretty complicated. Individual permits are regularly over a thousand pages long, adding to prospective candidates’ cost and time.
According to Cameron Conn, the CEO of OneComply: “The sheer number of opportunities can be tough to navigate, especially when combined with the lengthy application process. Some players attempt to enter multiple jurisdictions at a time, in an attempt to seize an opportunity early, but this can create a substantial lag in productivity. OneComply is looking forward to supporting FansUnite’s entry into the burgeoning US market”.
