Esports entertainment company Fandom Sports Media said Thursday it has completed the formation of its foreign subsidiary, Bridarias Limited. Based in Cyprus, it is the first corporate entity that will be arranging the banking and payment processing relationships required to support Fandom's launch of a global Esports wagering platform.
Fandom said it continues to execute on the corporate governance initiatives to support the rollout of the wagering platform. Fandom's wagering platform will launch independently and in advance of the company's all-ages prediction platform.
Fandom Sports currently has a Curacao Internet Gaming License for the Right of Use for Offshore Games of Chance and Wagering. Under the terms of the license, Fandom is able to market, promote and offer their games of chance to all jurisdictions other than those explicitly forbidden under the terms of its license, namely: USA, UK, France, Spain, Australia, Netherlands and certain other Dutch affiliated jurisdictions.
Esports global gambling revenue is set to double to US$14 billion in 2020, according to new research from global consumer surveyors 2CV and market analysts ProdegeMR, cited by Fandom.
David Vinokurov, CEO of Fandom, commented: "We continue to build out a proprietary Esports ecosystem that encompasses predictions in both an all ages based fun environment and a licensed and regulatory iGaming wagering model. The sector continues to transparently demonstrate explosive growth and it's our intention to capitalize on the entirety of the Esports fanbase."