Canadian Esports betting provider Luckbox has made it crystal clear what its main focus is for the remainder of 2022.
And that is expansion into its home market of Canada, as well as the rapidly developing esports betting scene that is now starting to expand across its neighbour to the south, the United States.
Just a few weeks after the parent company, Real Luck Group, announced that iGaming veteran Bo Wänghammar was joining the board of the company to replace the outgoing Mike Stevens, the company’s intentions for the year were laid clear in a recent announcement by CEO Thomas Rosander.
“First In Line”
Mr Rosander explained that the forefront of the company’s focus this year would be expansion with the operator set to enter a “number of regulated markets” over the course of 2022.
However, as the company seeks sustained global growth, there will also be a primary focus for the company on markets closer to home.
“Canada is first in line,” stated Mr Rosander.
“We’re a Canadian company, we’re listed on the Toronto Exchange, so it’s very important for us to be there and we’re looking forward to offering our products and games to the Canadian audience.”
Mr Rosander was quick to point out that the decision to focus on Canada was more than just an emotional decision. He explained that the rapid growth in interest in esports betting across Canada, and the projections that this is only likely to grow over coming years, as one of the fundamental reasons for entering the market.
There is also the salient point that while sports betting and esports betting is legal in Canada, there are no Canadian-based bookmakers, and companies that offer an extensive esports betting selection, with an expertise in that area are also thin on the ground.
Obtaining a license to become one of the first esports betting sites in Canada would be a great move for Luckbox, but the company has plans to expand elsewhere too, although the method they use to expand may change.
Different Approach For The United States?
When asked about how Luckbox will approach entering the notoriously fragmented United States market, Mr Rosander explained that there were a few options on the table for Luckbox to expand in selected states.
We’re definitely looking at the U.S. There’s a lot of movement in that market right now and we are carefully deciding which states to go into and in what way, and there are many ways to enter that market, bedsides just doing it up front and going for a license directly.
It can be through a partnership and other business models. It’s important for us to show off our products and what we can do for the American audience.
“That’s what leads our strategy there; it doesn’t matter if it is a straight up sportsbook or some other kind of business model or partnership with operators in any of the states,” he concluded.
Certainly it sounds very much like Luckbox would like to partner up with pre-established betting companies across the American states that do permit at least sports betting, and ideally esports betting.
That would certainly be a quick way to establish a presence across several states in the US and allow them a rapid expansion of services in the key North American region.