NEWs-UPDATE
ePlay unit launches phase 2 of 3-WORX project
2018-02-01 07:30 ET - News Release
Mr. Trevor Doerksen reports
MOBOVIVO LAUNCHES 3-WORX PHASE 2 PROJECT
Mobovivo, a subsidiary of ePlay Digital Inc., has signed a new agreement for a second phase of development on advanced sports games and features to be added to 3-WORX iOS and Android mobile game apps. 3-WORX has launched a subscription-based model for gaming and is adding new games to its platform with the help of Mobovivo. 3-WORX will utilize the technology, team and expertise at Mobovivo to deliver innovative technology solutions for the marketplace.
With over two billion smart phone users in the world generating more than $100-billion (U.S.) in annual gross revenue, projected to double by 2020, mobile gaming in sports and entertainment has become the bedrock of a $1.1-billion (U.S.) e-sports, $100-billion (U.S.) mobile games, $61-billion (U.S.) sports advertising and $37.9-billion (U.S.) sports gaming market.
"With such engaged users, the 3-WORX road map, team and user base is clear and exciting," said Trevor Doerksen, chief executive officer of Mobovivo. "3-WORX and Mobovivo are bringing daily fantasy sports and more to the $37.9-billion (U.S.) sports gaming market."
Mobile games and daily fantasy sports statistics
Fantasy sports are centralized and heavily monopolized by FanDuel and DraftKings holding over 90 per cent of daily fantasy sports (DFS) market. High commission rates, lengthy verification process, unfair competition and slow withdrawal of money are problems in DFS.
Approximately 59.3 million users played fantasy sports in North America in 2017 with 39 per cent using smart phones to play fantasy sports.
The DFS market was $3.26-billion (U.S.) in 2016 and is estimated to reach $5.6-billion (U.S.) by 2021. Average user spending on FanDuel and DraftKings was $41.70 per month and expected to increase.