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

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

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Source: Microsmallcap.com

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Red Bull, Nissin Cup Noodles, and Kreo Join College Rivals Season 2 as Associate Sponsors

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India’s premier college esports and gaming talent hunt, College Rivals, has secured three major Associate Sponsors for its highly anticipated Season 2. Nissin Cup Noodles, Red Bull, and Kreo have all come on board to support the Ampverse DMI-conducted event, each contributing their distinct energy and enthusiasm, as the official Energy Partner, Snacking Partner, and Kreative Partner, respectively.

College Rivals Season 2, featuring participation from over 2,00,000 students across various competitions, offers a prize pool of INR 50,00,000 and a prestigious professional gaming contract. Having kicked off in July 2024, the championship will continue in the following months before culminating with a Grand Finale scheduled for the first quarter of 2025.

“We’re thrilled to welcome top brands like Nissin Cup Noodles, Red Bull, and Kreo to College Rivals Season 2, which has grown exponentially this time around and is bigger and better than ever. These incredible partners will further enhance the student experience with immersive gaming, exciting activities, and creative engagements, adding new energy and thrill as we continue to inspire college-going students to engage with esports and gaming opportunities,” said Ashwin Haryani, Country Head, Ampverse DMI.

Red Bull, returning to College Rivals after a successful first season, brings extra excitement with their racing simulators and product samples in interactive zones, giving students a taste of the fast-paced energy of Esports. Nissin Cup Noodles, the event’s Snacking Partner, is bringing a flavorful twist to the action. With wet product sampling of their instant noodles, Nissin Cup Noodles seamlessly blends snack breaks with gaming.

Meanwhile, with their branded gaming peripherals, Kreative Partner Kreo is hosting interactive activities such as typing tests and giveaways, inviting students to engage with top-tier gaming gear at the country’s biggest collegiate gaming event.

“We’re absolutely fired up to be part of College Rivals Season 2! The energy is electric, with thousands of students from all over the country bringing their A-game. The fast-paced action, intense competition, and pure thrill of gaming make this event a perfect match for Nissin Cup Noodles which is the go-to snacking option for gamers” said Varun Oberoi – Vice President, Head of Marketing and Corporate Communications, Indo Nissin Foods.

Having expanded to 20+ cities and 58+ colleges, College Rivals Season 2 is engaging 11,00,000 students across India, providing the ideal stage to connect with brands that resonate with them. Nissin Cup Noodles satisfies with its instant snacks, Red Bull keeps the energy high with its action-packed drinks, and Kreo connects creative minds with top-tier gaming gear.

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eSports

IESF and ITTI Open Applications for Scholarships in Esports Management

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The International Esports Federation (IESF) and the International Institute of Technology and Innovation (ITTI) are thrilled to announce the launch of the IESF x ITTI Scholarships, an initiative designed to empower the next generation of Esports leaders. This scholarship program brings together the industry’s best resources to select young talent ready to make their mark in Esports management and gaming.

Four scholarships are available for promising students who will join ITTI’s Master’s in Esports Management and Gaming program. This scholarship opportunity opens on November 4, 2024, and closes on November 20, 2024. The project is also part of  IESF and Busan City’s World Esports R&D Center Program, supporting education and development in the Esports industry.

Scholarship Allocation:

  • One student who is a Resident of Busan, aged 18 – 24.

  • Three international students, aged 18-24.

How to Apply:

Open to applicants aged 18 to 24, the program invites candidates to submit a completed application form and an introduction video addressing specific questions about their goals, interests, and vision for Esports. With support from NASEF, IESF’s educational partner, the selection committee will evaluate each applicant’s creativity, dedication to Esports, and unique ideas to shape the industry.

Applicants can access the Application Form and should complete both the form and video submission by the deadline. 

The IESF x ITTI Scholarships offer a great path into Esports management, and recipients will gain access to ITTI’s advanced curriculum designed to equip students for impactful roles in Esports. We invite all eligible young enthusiasts to apply and join this exciting journey with us. Let’s help shape the future of Esports!

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eSports

SOFTSWISS Sportsbook Doubles Esports Turnover in Q3 2024

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1 November 2024 – Esports has experienced explosive growth in Q3 2024, doubling turnover compared to the previous quarter. The average bet on cybersports increased by 17.6% quarter-on-quarter. SOFTSWISS, a global tech expert with over 15 years of experience providing innovative iGaming solutions, shares the SOFTSWISS Sportsbook Q3 2024 report.

The top five sports by Gross Gaming Revenue (GGR) remain consistent: Football, Tennis, Basketball, Table Tennis, and eFootball. For the second consecutive quarter, eFootball has outperformed Counter-Strike 2, indicating a shifting interest within the esports sector. Nevertheless, football continues to dominate, contributing nearly half of the total GGR.

The average live bet grew by 10% quarter-on-quarter, a positive development for operators as live bets hold 78.6% of turnover. The SOFTSWISS Sportsbook team is actively enhancing the live betting experience, aiming to capitalise on this trend and provide operators with even greater revenue opportunities.

The average bet grew by 9.7% quarter-on-quarter in Q3 2024, and the number of bets increased by 18.7%. GGR saw a modest growth of 1.5% quarter-on-quarter.

Despite the large number of projects launched for the UEFA Euro 2024, month-on-month statistics show that with the right promotional strategies, projects continue to operate successfully even after such massive events. 

 

Alexander Kamenetskyi, Head of SOFTSWISS Sportsbook, adds: “Aligning a launch with a major sporting event can be a successful strategy, but football is not the only sport that can be leveraged in this way. The growth of cybersports presents new opportunities; for specialised projects targeting specific audiences, esports events can also serve as an effective starting point. 

We continuously focus on product growth and development, enhancing features and user experience to drive further engagement and profitability for our partners.”

The SOFTSWISS Sportsbook is expanding its global presence. The product team is on track to secure certification in Brazil, conducted by an authorised testing laboratory. Furthermore, for the South African market, the SOFTSWISS Sportsbook has recently integrated a Horse Racing Module. This addition offers operators new business opportunities by covering over 2,400 international and local races monthly. The solution engages players with race cards, silks, and multiple bet types while providing operators unique skins and configurations to align with various brand identities.

The SOFTSWISS team is working on The iGaming Trends Report 2025, which offers a deep dive into key industry developments based on over 50,000 media headlines and insights from industry experts. Covering areas like regulation, marketing, technology, and business growth, this report provides a data-driven perspective on the trends shaping the upcoming year. The SOFTSWISS team shares the possibility of joining the waiting list.

All SOFTSWISS products will be showcased at the final major industry event, SiGMA Europe, at stand 2145.

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