Elys Game Technology uses DC as a retail sports betting model
Elys Game Technology believes retail sports betting will grow in the United States in the coming years, and the company is expanding its retail presence across the country. The company’s short-term goal is to expand its presence in the nation’s capital.
Elys news shared this week that he plans to expand his partnership with Grand Central Restaurant and Sportsbook, as the two entities will eventually open a second sportsbook in Washington, D.C. The location has yet to be announced, but that’s not the only news of Elys in recent days.
Last week, Elys announced that she received initial regulatory approval to DC for a sports betting at Ozio Lounge. Elys also plans to offer sports betting offerings at Cloakroom Gentleman’s Club and Entitlement Restaurant and Lounge.
“We knew there would be a completely untapped and untapped segment, which is the small business sector,” said Michele Ciavarella, executive chairman of Elys. Sports handle.
Bet on retail growth
Ciavarella and company are optimistic about the potential for retail sports betting in the United States. They are aware of the convenience of mobile sports betting, but they believe there are people who enjoy the experience of betting at local businesses.
“A lot of times you hear, ‘Well, mobile is the big opportunity, it’s the cash cow’, but there’s always going to be a segment of the sports betting base that actually likes that retail environment,” Tory Key, business development. project manager with Elys, said.
Ciavarella thinks the small business segment will “take fire” in the coming years.
“This will be, we believe, one of the most important segments of the US market over the next 10 years or so as the market expands,” Ciavarella said.
Expecting growth in retail sports betting, particularly among smaller businesses, Elys recently announced plans to enter the Ohio sports betting market. More than 50 locations across Ohio are expected to use Elys Game Technology to power their sports betting offerings with a partnership with Wright Bet.
Maryland is another jurisdiction that Elys could reasonably enter in the near future. The state has many retail sports betting licenses and the legislation encourages the inclusion of small businesses in the market.
Valid for small businesses?
So why shouldn’t small businesses just partner with big carriers? Elys believes it offers a deeper and more financially rewarding partnership than an affiliate partnership with a major brand.
“I think there’s always going to be that retail side that people enjoy, and if you’re just an affiliate, you’re not really going to reap the benefits,” Key said.
Brian Vasile, owner of Grand Central Restaurant and Sportsbook, said Sports handle in April that sports betting “brought new demographics and new activity…and it gave another [form of] entertainment to people who were already there.
Vasile was happy with the addition to his restaurant, and it didn’t drastically change the experience for regular customers. This provided the owner with a new source of income, while engaging new customers.
Sports betting is not for every small business, but for those looking to enter the market, Elys is an option as a partner. Grand Central serves as a model for other non-traditional gaming entities to enter the market, and Elys hopes further additions in DMV and Ohio will show how they can add value in the small business sector.
“We like to say that we’re kind of a beacon of hope for small businesses in the sports betting space, so they can get in the game and get some of the action,” Key said.