The owners of esports betting service Luckbox are celebrating today after its parent company, Real Luck Group Ltd was successfully floated on the Toronto-based TEX Venture Exchange from 2.30 pm GMT on Wednesday 16th December 2020.
The listing on the exchange, under the ticker “LUCK”, comes after a whirlwind period of 20 months for the company. The beginning of that time period saw Luckbox accept its first bets as an esports betting company, not to mention landing a very positive Luckbox review on this site, and in that relatively short space of time, the development of the company has culminated in this accelerated progression to listing on the Venture Exchange yesterday.
There is no doubt that while the Covid-19 pandemic decimated the sports betting industry for a good proportion of 2020, especially during the spring and summer months with many major and minor sports events postponed or cancelled completely, the fact that esports could continue relatively unscathed proved to be the catalyst for a boom period in the industry.
That meant not only did we see the number of viewer hours on esports services such as Twitch increase to 5 billion in the second quarter of 2020 (a 50% increase of Q1 in 2020), but Facebook also saw its viewership increase by over 75% in the same period.
With very little sports betting about, esports nicely filled that void for many punters, and the esports industry and esports betting in particular became one of the few beneficiaries of the Covid-19 pandemic.
Indeed, Luckbox reported an incredible 500% increase in turnover during the spring lockdown and it was this massive influx of cash during that period that allowed the company to accelerate its plans to go public on the exchange and to look at being listed at the end of 2020.
“Very Busy Year For Us”
Despite the exciting news of being publicly listed on the exchange, Luckbox CEO Quentin Martin confirmed that the company had no plans to rest on its laurels in 2021, with some big plans ahead for the company.
“The massive potential of esports is well documented and late last year PwC cited esports as having higher growth potential than any other sport. That was before we knew about Covid, of course, and the events of 2020 have put esports in sharper focus. Many who weren’t paying attention certainly are now.”
“We’re at the forefront of the esports betting sector and we’ve seen first-hand the impact it’s had on esports betting. It’s been huge – a large part of our reasoning to go public this year was the acceleration we saw during lockdown.”
“We saw a massive spike in players moving from betting on sports to betting on esports and, encouragingly, we managed to lock up 75% of the gains we made. We have clear evidence that players who tried esports betting for the first time enjoyed it and stuck with us.”
“These are exciting times and 2021 will be a very busy year for us. So far, almost all our growth has been organic and the potential for growth through marketing is huge. We’ll focus strongly on content marketing, affiliates, partnerships, influencers and direct media and well be strengthening our marketing team with key hires.”
Mr. Martin also announced plans for Luckbox, who were awarded the Rising Star award at the EGR Awards in November, to diversify their range into both casino gaming and sports betting in 2021 and beyond.