Fandom
Sports
Releases Wagering and Actionable Predictions Across Entire
Esports
Platform as
"Peer
Analysis" Report
Illustrates
Its
Upside
Potential
June
23, 2021 - By Chris
Thompson, Director of Equity Research, eResearch
eResearch
| As Esports
continues
to grow and fans
search
for ways
to interact with friends and fans in real-time as games
are streaming,
Fandom
Sports Media Corp. (CSE: FDM | OTC: FDMSF | FSE: TQ43) progresses
with an all-ages
app and
website
to
interact with the
Esports
community
and reward users
for
engagement and activity.
The
Fandom
Sports platform
encompasses
free-to-play
actionable
predictions, a wagering
marketplace (P2P), and now
includes
odds-line
wagering.
Free-to-play
is
available
to all users,
while the
wagering features are
geofenced and limited to countries where permissible
by Fandom
Sports'
Curacao iGaming
Wagering License that was received in August 2020.
For investors
searching for an Esports-focused
public company, Fandom
Sports provides a
low
CapEx option
with
near-term revenue catalysts.
Its
recently
published "Gaming Industry
& Peer Analysis" report highlights the Esports
industry
and growth, and a peer comparison
shows Fandom
Sports' upside
potential.
Esports
Odds-line
Wagering
Last week,
Fandom
Sports released odds-line
wagering across the entire Fandom
Sports
platform
that includes game titles such as Call of Duty,
Counterstrike:GO,
Dota 2, FIFA, King of Glory, League of Legends, Overwatch, Rainbow
Six, Rocket League, StarCraft 2, StarCraft BroodWar,
Valorant, Warcraft 3, and
World of Warcraft.
With this
feature, Fandom
Sports utilizes its
web-based
machine learning betting platform to
set
the
gambling
odds and determine the favorites and
underdogs. The
fan
can then
bet on
which
player
or team
will
win
a game or
tournament.
Fandom
Sports'
odds-line
wagering adds another feature to its platform
for
fan
engagement as wagerers will be able to place bets even if
P2P betting
is
unavailable. The Company will
now have another revenue
stream by acting as the
house on the
other
side
of
the
wagers.
Fandom
Sports'
Robust
Platform
Fandom
Sports'
platform
is available on web browsers, Android and iOS devices,
and
multiple languages are now
supported, including Chinese,
English, French, German, Japanese, Russian, and Spanish.
The platform
provides
Esports fans
with
the
ability to watch live streams
and offers a diverse
range of products, from wagering to peer interaction,
including:
-
Odds-line
and P2P wagering
-
All-ages
free-to-play
Prediction
module with an easy to use,
swipe-capable interface
-
Multicast
streaming - watch live
events
while
making predictions or wagers
-
Authenticated
messaging and sharing of
predictions or wagers on
social media
platforms
such as
Facebook, Google, Pinterest,
Reddit,
Telegram,
Twitch,
Twitter,
Viber,
WeChat,
and WhatsApp
-
Esports news
and
social invitations for
interaction, promotion,
and
rewards
-
Users
will
be
rewarded with points, prizes,
fancoins, and Non-Fungible
Tokens ("NFTs").
Capturing
Part of a Billion Dollar Market
In June,
Fandom
Sports
released
a "Gaming
Industry Overview & Fandom Sports Peer
Analysis" report.
In that report,
market data provided by RnR
Market Research pegged
the
global Esports
gambling
market
at US$12.0 billion in 2020
and predicted it
to reach
US$20.5 billion by 2026, growing annually at 14.2%
The
COVID-19
pandemic had a substantial positive
impact on
the video game industry as the pandemic
forced governments to issue stay-at-home
orders.
Although
limiting in-person Esports
events,
more people turned to video games and Esport
online
events.
Fandom
Sports
plans to
capture this growing market by expanding its revenue
streams and
partnerships
including
advertising, product
sponsorship, white-label,
Esports
leagues,
betting commissions, and betting
subscriptions.
As an example of a
revenue stream, Fandom
Sports
and
Elite
Duels signed
a mutual
revenue sharing agreement under which
Elite
Duels will be
promoting Fandom
Sports wagering platform
and Fandom
Sports will drive traffic
to Elite
Duels' Esports
fantasy
platform.
FIGURE
1: Fandom
Sports'
Product & Opportunity Milestone
Source:
Company presentation (June 2021)
Hitting
the Milestones
for
Product
Rollout in 2021
Earlier this
year, Fandom
Sports
launched
the Free-to-Play Esports
prediction platform
at
www.fandomeSports.gg.
The platform initially allowed for real-time predictive
capabilities from completed integrations with Counter
Strike:GO, DOTA 2, and
League of Legends but now has expanded integration
to over 14 game titles.
The Company
also
entered
into the Non-Fungible Token (NFT) space and
minted its first "Fancoin" NFT in
March.
In June,
Fandom
Sports deployed
odd-line
wagering, P2P
wagering, and actionable
predictions
features
after
setting up its payment gateways and
private cloud infrastructure with its own
data
center and first two remote nodes. A Far East data
center is planned for the fourth quarter this year.
Public
Comps – Room to Grow for Fandom
Sports
Also conveyed
in Fandom
Sports'
June industry report was a peer
comparison
with some
publicly-traded competitors including Enthusiast
Gaming (TSX: EGLX, NASDAQ-GS: EGLX),
Esports
Technologies (NASDAQ-GS:
EBET),
Esports
Entertainment Group (NASDAQ:
GMBL),
ESE
Entertainment (TSXV: ESE, OTCQB: ENTEF),
Allied
Esports Entertainment (NASDAQ: AESE),
FansUnite
Entertainment (CSE:
FANS, OTCQB: FUNFF), and
Real
Luck Group (TSXV:
LUCK, OTCQB: LUKEF).
As illustrated in
Figure 2, Fandom
Sports has a specific focus
on Esports
and
iGaming wagering with a diverse revenue model but trades at
a
fraction
of the market cap of its peers.
As the
Fandom
Sports platform is fully
launched by the end of the year and revenue starts to be recorded,
the stock could see a re-rating
to be more in-line with its industry peers.
Fully
Funded for 2021
Fandom
Sports closed a C$5.1
million financing in April when it issued 21.1 million units at
C$0.24 per unit that included a common share and one common share
purchase warrant at an exercise price of C$0.36 for a period of 2
years.
With the recent
financing, the Company is fully funded for 2021 and plans for the
proceeds
include
enhancing the technology
and
business
development with a focus
on North America
and Asia.
Fandom
Sports currently trades
around C$0.28, up almost 70% year-to-date, but still with a
Market Cap of less than C$23 million.
FIGURE
2: Fandom
Sports'
Public Peers
Source:
Gaming Industry Overview & Fandom Sports Peer Analysis (June
2021)
//
Notes:
All numbers in USD unless otherwise stated. The author of this
report may own stock positions in companies mentioned in this
article and may have been paid by a company mentioned in the
article. The author offers no representations or warranties that
any of the information contained in this article is accurate or
complete. The article is provided for general informational
purposes only and does not constitute financial, investment, tax,
legal, or accounting advice nor does it constitute an offer or
solicitation to buy or sell any securities referred to. Individual
circumstances and current events are critical to sound investment
planning; anyone wishing to act on this information should consult
with a financial advisor. The article may contain "forward-looking
statements" within the meaning of applicable securities
legislation. Forward-looking statements are based on the opinions
and assumptions of the Company's management as of the date made.
They are inherently susceptible to uncertainty and other factors
that could cause actual events/results to differ materially from
these forward-looking statements. Additional risks and
uncertainties, including those that the Company does not know about
now or that it currently deems immaterial, may also adversely
affect the Company's business or any investment therein. Any
projections given are principally intended for use as objectives
and are not intended, and should not be taken, as assurances that
the projected
results will be obtained by the Company. The assumptions used may
not prove to be accurate and a potential decline in the Company's
financial condition or results of operations may negatively impact
the value of its securities.
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