Tiidal Gaming Group Corp CEO says its ‘Flash Markets’ betting product will revolutionize esports and create new market

Tiidal Gaming Group Corp (CSE:TIDL) CEO Tom Hearne has told shareholders that the company’s ‘Flash Markets’ betting product will “revolutionize esports and create an entirely new addressable market segment.”

The new technology offering from Sportsflare, a wholly-owned division of Tiidal Gaming, enables bettors to make flash bets for popular esports titles, including League of Legends and Dota 2.

“Founded in a deep understanding of artificial intelligence (AI) and esports, they have been able to create market-leading technology that can make in-game predictions providing a unique offering that competitors are not able to make. The result of this is ‘Flash Markets’, a betting product that is the first-of-its-kind for esports,” Hearne said in a letter to shareholders.

READ: Tiidal Gaming Group reveals proposed rebrand to Sportsflare and C$500k private placement financing

“Flash Markets allow a gamer/bettor to watch a live League of Legends or Dota 2 board (and soon a CS:GO or FIFA match board), see the player positions, and be given the opportunity to make a selection of bets as to which player or team will get the next kill or which tower will fall next,” he added.

Hearne said the “innovative product” is currently in the “testing cycle with four great esports brands, and we are getting positive feedback.”

The company said it had the chance to showcase its product at the SBC Summit Barcelona event to the world’s best direct-to-consumer betting sites, as well as top business-to-business providers in the space.

“Everyone was excited to get a first-hand look at the product and wanted to know when and how they could get access to it,” added Hearne.

“Our goal, from this show, is to distribute the product via these two channels, enabling us to highlight our product with the best and leading sports betting sites in the world.”

Hearne noted that the company’s focus will be on fostering relationships with the prospects they meet and turning them into customers in the near future.

“You can expect us to be making more announcements about the Flash Markets product over Fall 2022,” he added. “This is what we have been waiting for – the opportunity to grow the business after ensuring we have the product set that we needed to succeed.”

Part of this was getting access to live data, according to the company. In July this year, it signed a deal with Bayes Esports and got access to live data for Riot and ESL League games.

“This is the only way to succeed at developing a robust live betting product,” noted Hearne. “Our competitors scrape data from other websites in order to try to achieve this, which we believe will lead to no success as it is an inferior method.”

Hearne told shareholders that the company’s deal with Bayes was two-fold. “Not only did we gain access to the best data available, we also obtained a new customer,” he said. “At SBC, Bayes announced that they were launching Bodex, the esports betting platform that will be the new esports base for Betradar customers. We are part of the pre-match and live odds offering in Bodex. This is the start of the growth of our revenue base and the demonstration of our product capabilities at the highest level.”

Meanwhile, Hearne pointed out that despite the technology sector facing a correction in the stock market and a lack of financing activity in the North American capital markets, Tiidal Gaming insiders, who collectively own over 50% of the company’s share capital, have continued to invest in the company through the current $0.10 unit financing by buying shares in the open market.

“I have invested approximately $200,000 since joining the company earlier this year,” said Hearne. “We are fortunate to have a core group that believes strongly in what we are doing and the substantial opportunity this market has over the next few years. Skill-based wagering, in-game betting, and esports represent a blue-sky opportunity.”

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

Source link