Business
SharpLink Gaming Announces Record Financial Performance for LeagueSafe for 2023/2024 NFL Season
MINNEAPOLIS, MN / ACCESSWIRE / October 10, 2023 / SharpLink Gaming Ltd. (Nasdaq:SBET), a pioneer of targeted, data-driven fan activation and conversion
About this update from Sharplink, Inc.
[{"type":"text","content":"MINNEAPOLIS, MN / ACCESSWIRE / October 10, 2023 / SharpLink Gaming Ltd. (Nasdaq:SBET), a pioneer of targeted, data-driven fan activation and conversion solutions for the U.S. sports betting and iGaming industries, today announced that the Company's LeagueSafe fantasy sports league management platform, acquired as part of the merger with SportsHub Games Network in December 2022, reported that it has collected more than $31.5 million in total entry fees from over 56,000 private fantasy football leagues for the 2023/2024 NFL season - up 22% when compared to the 2022/2023 NFL season. In addition, the total number of individual payments processed on the platform was 574,043, a 29% increase over the 2022/2023 NFL season.Rob Phythian, SharpLink's Chief Executive Officer, stated, \"2023 is proving to be a banner year for LeagueSafe, expanding its dominance as the premier private fantasy league commissioner assistance service in the industry and providing SharpLink with the means to significantly increase the income earned through higher interest yields on the tens of millions in cash currently be managed by the platform. Based on our internal discounted cash flow analysis, LeagueSafe is currently valued on a standalone basis at over $18 million without considering the other five properties that came with the SportsHub merger.\"\"According to a 2023 survey conducted by the Fantasy Sports & Gaming Association, there were 62.5 million people playing fantasy sports in the U.S. and Canada in 2022 - up from 59.3 million in 2021. While LeagueSafe's market share currently stands at a fraction of the total addressable market, this suggests that LeagueSafe's long-term upside growth potential is enormous - particularly as we move forward with our planned national brand and business building initiatives in the coming year. We are very proud of the success that LeagueSafe continues to achieve and the important role it is playing in the growth of SharpLink,\" concluded Mr. Phythian.Some additional interesting data points shared by LeagueSafe related to the 2023/2024 NFL season, based on entry fees collected for 2023 fantasy football leagues through both the online and mobile LeagueSafe channels, include the following:The average league entry fee is $55 per user and the average amount collected per league is $565.LeagueSafe supports leagues on all maj...