Elys Game Technology has obtained Gaming Labs International certification to meet Ohio Casino Control Commission rules, entering the sports betting market in the Buckeye State.
The firm has received GLI 20 v.2.0 and GLI-33 certification to meet the requirements on Standards for Kiosks and Event Wagering Systems standards for self-service betting terminals. It allows the firm to operate retail sports betting in Ohio by meeting OCCC standards.
“With the GLI 20 and GLI 33 certification of our retail betting platform under the OCCC standards, Elys is continuing to layer the foundational blocks of our expansion throughout the US,” stated Mike Ciavarella, Executive Chairman of Elys Game Technology, Corp.
“The US market has grown significantly since the repeal of PASPA in May 2018 with about 37 states now allowing or having passed legislation to permit some form of regulated sports betting.
“Our internal analysis of available statistics estimates that the annual gross revenue in the US could hit approximately $10bn in 2023 and could potentially reach approximately $16 to $21bn by 2026 assuming that the US regulatory landscape expands to 42 states.
“As previously stated, we continue to hold our estimate that the addressable market for our Elys technology in the US can significantly outsize that of our Italian core operations over the next few years, and thus scaling value creation for our long-term shareholders.”
Elys made it clear that retail sports betting is a ‘largely underserved market’ but is essential in supporting the local economy with many SSBT’s deployed in grocery stores, restaurants and bars.
Fundamental to its US strategy, SSBT’s – according to Elys – help to provide socially interactive gaming opportunities and the firm hopes that they can be rolled out elsewhere in the US.
Ciavarella explained: “Based on our extensive experience in the highly regulated Italian market and the knowledge of our recently acquired Engage IT team, we apply the highest standards to our certification process to minimize the risk of errors and regulatory fines and instill a sense of confidence in our current and future hosts and customers.
“The innovative distributed model architecture of our cutting-edge betting technology certainly should make its mark on the global gaming industry in the coming years.”