Luckbox’s TSX Expectations Far Exceeded
Isle of Man-based eSports bookmaker Luckbox certainly seems to have aced ‘eSports Betting Done Right’. Luckbox last week confirmed having completed a public listing funding round to the tune of CA$3.8 million in preparation of the company publicly listing on Canada’s Toronto Stock Exchange (TSX). In fact, Luckbox reports investors having shown interest and a willingness to invest far in excess of the anticipated CA$2 – 3 million range: evidence yet again of an ever-growing worldwide eSports boom.
The enormous amount of interest shown by investors has even justified a further funding round being hosted. The second round, hosted by Beacon Securities and Gravitas Inc., will reportedly draw to a close on June 15.
Phenomenal Increase In Turnover
It’s a journey described by Luckbox CEO Quentin Martin as one of phenomenal success, and especially so in reference to the first half of 2020. Martin reports a super 500% increase in bets wagered since March this year, with turnover having risen to very close to 13 times the turnover witnessed as recently as November last year. Deposits are up too, and by as much as 10-fold.
The eSports bookmakers initial public offering (IPO) process is being administrated and managed by venture exchange fund advisors Elephant Hill Capital. The aim is TSX venture float by summer 2020, a goal Luckbox is evidently headed toward on a fast approach.
Growth From A Global Crisis
Investor-interest in eSports as an exciting new big-business center has been stimulated exponentially by the outbreak of a global health crisis, and especially since the majority of entertainment alternatives are no longer fully functioning or investor-viable industries. It therefore stands to good reason that eSports betting will have gotten a major boost resulting from sports fans looking for alternative betting action.
What sets eSports apart from major league sports like football and basketball is that the majority of events can be played online. And while this doesn’t mean that the calendar has remained wholly unaffected, it does mean that eSports is in general a much more resilient market because of players not having to necessarily occupy a shared physical space.
To Luckbox, this means exciting times indeed, and even more so because of Luckbox being only the second eSports company ever to be publicly listed – in the world. And since according to Martin, eSports is currently still the “only show in town”, many fans of traditional sports are bound to finally realise what the hype around eSports is all about.