SharpLink invests in CryptoCasino
US sportsbook and igaming marketing firm SharpLink Gaming has invested 10% equity in Armchair Enterprises, the UK parent of CryptoCasino.com.
The US$500,000 investment also gives SharpLink a right of first refusal to purchase a controlling interest in Armchair as it looks to expand its presence in crypto gaming. The company press release highlighted its objective of being the “first Nasdaq-listed company focused on crypto gaming.”
CryptoCasino, launched in October 2024, offers a library of over 6,000 slot and table games. It also features a live dealer casino, sportsbook, esports betting site, and racebook.
The platform uses blockchain technology and accepts payments in several cryptocurrencies, including Bitcoin and Ethereum. It lets players link their MetaMask or Trust Wallet accounts for instant deposits and withdrawals.
According to data SharpLink references from a Fortune Business Insight report from 2023 titled, Online Gambling Market Size, Share & Industry Analysis, the online gambling market may reach US$158.2 billion by 2028. The report estimates that the annual growth rate of blockchain and crypto gambling will be 12.5% from 2023 to 2028.
Chairman and Chief Executive Officer of SharpLink, Rob Phythian, said, “Over the past year, our leadership team and highly engaged board of directors have dedicated significant resources and time to identify the best growth opportunities for our company. Our goal is to strategically leverage our existing performance-based marketing platform and industry relationships to achieve deeper and more lucrative penetration into the digital gaming and sports betting markets.”
SharpLink is based in Minneapolis, Minnesota, and works with several prominent US igaming companies, signing a deal with BetMGM to develop free-to-play games and contests.
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