OneComply Inc will assist FansUnite Entertainment in obtaining operational licenses for the booming US online gambling market.
Entry Into North America
Compliance and licensing leader OneComply Inc has entered a deal with Canadian sports entertainment specialist FansUnite Entertainment. Under the terms of the agreement, OneComply will help FansUnite navigate the North American gaming jurisdictions.
The agreement comes on the heels of FansUnite’s acquisition of Canadian gaming and esports firm Askott Entertainment Inc. on 11 August. The move was highly beneficial for FansUnite and transformed it into one of the biggest online gambling, sports betting and casino gaming players in Canada.
FansUnite, which recently received operational licenses for Malta and the EU, has now set its sights on the booming North American market. With OneComply’s assistance, the gaming leader will be able to better manoeuvre through the US legal landscape.
FansUnite CEO Scott Burton said he was thrilled to be partnering with OneComply. He explained that the licensing firm would streamline the difficult and nuanced process of entering an entirely new legal jurisdiction. With OneComply’s aid, FansUnite will be able to showcase its gaming solutions to a broader audience, Mr. Burton continued.
Booming North American Market
The North American online gambling and gaming market is booming, despite the economic impact of the novel coronavirus. The market has grown to an astounding $59 billion and is projected to double in size over the next few years. Naturally, this has attracted the attention of players across the globe.
This development is made more impressive by the fact that the market is still very young. The US Government’s 2018 decision to repeal the Professional and Amateur Sports Protection Act (PASPA) started a wave of legalization across the US. Many more states are expected to join in this year as well.
While these markets are quite attractive, the process of obtaining an operational license is on a state-by-state basis and can be quite cumbersome. Individual licenses can be thousands of pages in size, which can prove expensive for the candidates.
According to OneComply CEO Cameron Conn, the sheer number of opportunities can be very difficult to navigate especially when combined with the lengthy application process. He explained that some players attempt to enter multiple jurisdictions at a time in an attempt to seize the opportunity early, but that can create substantial lag in productivity. Mr. Conn added that OneComply is looking forward to supporting FansUnite’s entry into the burgeoning US market.