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X-Bet.co and BUFF.bet merge and fuel eSports betting IPO

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X-Bet.co and BUFF.bet merge and fuel eSports betting IPO
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The two eSports betting brands are merging due to a signed deal at the end of February between XB Systems, a start-up organization managing X-Bet.co and one of the strongest white labels of UltraPlay – BUFF.bet.

Since XB Systems operations began in May 2017, the company has grown rapidly within the eSports betting sector under the brand name X-Bet.co. BUFF.bet, on the other hand, is a standalone business affiliated with UltraPlay and powered by its advanced betting solutions.

For over three years XB Systems has been working closely with its platform provider UltraPlay. The effective management team of XB Systems and the surging growth rates on X-Bet.co in terms of betting volume and user numbers encouraged UltraPlay to take the next step and initiate talks to merge BUFF.bet with XB Systems operations and management. Due to the signed agreement, X-Bet.co effectively and fully takes over the management and operations, as well as the domain and all assets of the merged business. UltraPlay will remain the platform provider for the newly formed venture for the foreseeable future.

Mario Ovcharov, CEO of UltraPlay commented: “We believe that X-Bet.co and BUFF.bet will form a great synergy together. With the two sites joined forces and the experienced management team of XB Systems firmly in place, BUFF.bet will undoubtedly go from strength to strength becoming one of the leading eSports betting operators worldwide”.

Daniel Miller, CEO of XB Systems said:The merger is an absolute recipe for success and a win-win situation for everyone. Under the BUFF.bet brand we are targeting a major slice of the global eSports market. With our unique proposition of media portal and eSports betting site powered by UltraPlay’s data and betting solutions, we are certain that our market share will grow massively over the next 24 months“.

The newly formed organization will come under the name of BUFF.bet and will incorporate the two brands’ vision of providing the ultimate eSports betting experience.

A major contributing factor in this success story has been the close collaboration with Swiss-based firm Raptor Consulting GmbH, which has accompanied XB Systems since its foundation specializing in the capital raising for the company.

Furthermore, the acclaimed international financial boutique JP Capital Investments Ltd., with its wealth of experience and exclusive network, has been assigned as partners in the upcoming IPO of XB Systems.

Asia

The bronze at the CEC 2022 opens up new horizons for Indian esports internationally

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India’s DOTA 2 esports team’s victory at the CEC 2022 is a significant milestone in the history of the Indian esports and gaming ecosystem. It will open up new horizons for aspiring athletes who dream to compete in international tournaments in the future, thereby encouraging young gamers to pursue full-time careers as athletes. The win will open floodgates for subsequent industries to rise, birthing new-gen pro-gamers, careers, tournaments, brand associations and sponsorship opportunities among others. As the country celebrates 75 years of Independence, this victory marks a historical achievement for India in the international gaming arena.

The Indian DOTA 2 esports team displayed a smacking performance and won the bronze at the inaugural Commonwealth Esports Championships 2022 (CEC) held recently in Birmingham, England. The winners of the Indian DOTA 2 team, consisting of Moin Ejaz (captain), Ketan Goyal, Abhishek Yadav, Shubhnam Goli, and Vishal Vernekar, defeated New Zealand by 2-0 in an unsurpassed format.

Up until 2010, esports as a concept was relatively obscure in India and rather non-existent, with low public awareness, lack of infrastructure, and little involvement in the development of this sector. However, 2010 saw an enormous surge in the user base due to the popularity of smartphones, affordable high-speed internet, and notable investments in the space.

According to a report by the Federation of Indian Chambers of Commerce and Industry (FICCI) and EY India, the Indian esports industry rose to INR 3 billion in FY2021 and is expected to reach INR 11 billion by FY2025. This only confirms that the growth opportunity for esports in India is exponential and expansive.

Bharat Patel, Co-Founder, and Director, of Yudiz Solutions Limited, said, “A big congratulations to team India for claiming the bronze medal at the Commonwealth Esports Championship for DOTA 2. A remarkable achievement, considering the countless scrims, lengthy LAN games, and complex strategies involved.” With reference to esports athletes, he further shares, “the intelligence, mettle, and enthusiasm DOTA players display is utterly amazing. This win will boost the morale of the younger generation to become more active participants, encouraging the industry and the gaming community going forward.”

Anurag Khurana who is the CEO & Founder of Penta Esports said, “Congratulations to team India on winning the bronze medal at CEC for DOTA 2. This win will surely bring esports more recognition in India and inspire more aspiring esports athletes at the grassroots level in the country.”

Talking about the win Abhishek Aggarwal, Co-Founder, and CEO, of Trinity Gaming India, said, “These are exciting times for the esports industry and a very proud moment for the country and the gaming community. This win by the DOTA 2 team at the Commonwealth Esports Championship has earned a spot for India on the global gaming map and the future of esports looks very bright. This will encourage a new breed of gamers to build their careers leading to a larger pool of talent in the country. This is also an opportunity for brands to step forward in supporting the industry and encouraging the new athletes who aspire to have a career in this arena. We, as industry players, are confident that the government will support this form of the sport by providing adequate support to the esports athletes.”

The Indian esports ecosystem witnessed its first international representation (demonstration) at the Asian Games in 2018. Tirth Mehta, who won a bronze at the time, drew the attention of many developers and investors and their interest in Indian esports grew. Coverage and promotional campaigns on various online social media platforms like YouTube, Facebook, and Instagram increased public awareness and further stimulated the popularity of esports in India.

As esports is declared as a medal event at the next Asian Games and Commonwealth Games, India’s performance and win at  CEC 2022 have upped the ante for Indian esports in the international arena.

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Asia

Revenant Esports to represent India at Pokemon UNITE World Championship 2022

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Revenant Esports to represent India at Pokemon UNITE World Championship 2022
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Hustling their way amongst the top Esports teams in the country, Revenant Esports booked their spot in the Pokemon UNITE World Championships 2022 by clinching the Indian regional qualifier with a dominating performance.

They thrashed Ascension by 3-1 in the final and also took home the prize money of $20,000.

A total of 24 teams, including popular Esports teams like True Rippers Esports, Enigma Gaming, Entity Gaming and S8ul, featured in the regional qualifiers.

Revenant Esports were impressive throughout the tournament, winning all of their nine games in the group stages and playoffs.

The team will now represent India at the Pokemon UNITE World Championship, scheduled to take place in London from August 19-20. The tournament will feature a massive prize pool of USD 500,000.

“I am extremely delighted that the team has qualified for the World Championship, considering the fact that these qualifiers were the current roster’s first competitive appearance. The way they sailed through the group stage and playoffs was impressive. Being the first Esports team to represent India in this particular tournament is a commendable achievement for us and we are confident that the team will make everyone proud. We are looking forward to the tournament and competing with the best teams from all over the world,” said Rohit Jagasia, Founder & CEO of Revenant Esports.

The team, comprising captain Raunak Sen (Crowley), Omkar Sawardekar (Omen), Adnan Badshah (Badshah), Jeet Kundra (Swifty), Anklesh Satelkar (Novaa) and Vishnu Khatri (Xesol), were assembled recently on June 13.

“Having earned a lot of recognition through DOTA 2, it feels like a great accomplishment to represent your country on the international stage for multiple games. Everyone in the team put in a lot of effort and was confident about our chances right from the beginning. This was visible in the qualifiers as we went unbeaten in the regional championships in spite of the high level of competition. I hope that we transition that form to the World Championship as well and bag the trophy,” an elated skipper Raunak “Crowley” Sen expressed.

The event will feature 16 teams, qualified from 26 countries across the globe, battling to win the inaugural edition of the tournament.

The teams will be divided into four groups with the top two teams advancing to the playoffs. All games will be played in a double elimination best-of-three format while the final will be played in a best-of-five format with a bracket reset.

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eSports

fnatic Rising is the New Champion of WePlay Academy League

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fnatic Rising is the New Champion of WePlay Academy League
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For the first time in five tournament seasons, the WePlay Academy League has got new winners. This year, the players of the fnatic Rising team became the champions – in the grand final, the guys won with a score of 2:0, having put up a fight against Team Spirit Academy.

After 19 intense tournament days, the fifth season of the WePlay Academy League has ended. For the first time in the history of the tournament, the champion title was won by the fnatic Rising team.

The winner was determined during the playoff stage, in which four teams took part: Astralis Talent, fnatic Rising, BIG. OMEN Academy and Spirit Academy. As a result of a series of matches in the bo3 format, fnatic Rising and Spirit Academy made it to the grand final. With a score 2:0, fnatic Rising managed to win.

Season 5 final prize pool breakdown:

  • 1st place – $45,000 – fnatic Rising
  • 2nd place – $20,000 – Spirit Academy
  • 3rd place – $15,000 – BIG. OMEN Academy
  • 4th place – $8,000 – Astralis Talent
  • 5th place – $4,000 – YN.GamerPay
  • 6th place – $4,000 – NAVI Junior
  • 7th place – $1,500 – OG Academy
  • 8th place – $1,500 – FURIA Academy
  • 9th place – $500 – mouz NXT
  • 10th place – $500 – ENCE Academy
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