Esports Entertainment Group Inc (OTCQB:GMBL) announced on Tuesday that 42 additional e-sports teams signed affiliate marketing agreements with the company as it ramps up the launch of VIE.gg, the world's first e-sports betting exchange.
The new signings "signifies a significant acceleration in adoption of the company’s P2P esports wagering platform by global esports teams," a company statement said.
The addition of these 42 e-sports teams brings the total number of e-sports team affiliates to 176 since the company’s first announcement on April 5. Esports Entertainment anticipates more Affiliate Marketing Agreements with e-sports teams to be signed the rest of the year.
“The acceleration of our esports team affiliates is quantifiable and unequivocal validation that our VIE.gg P2P model is best suited for esports teams and their fans," said Esports CEO Grant Johnson.
The 42 e-sports teams are from Central and South America. The lineup includes 26 teams from Brazil, 6 from Peru, 2 each from Chile and Venezuela, and one team each from Bolivia, Mexico, Colombia, Guatemala, Paraguay, and the Dominican Republic.
Teams are pointing to the P2P model as highly desirable for their fans, compared to the traditional model pitting fans against the “bookie” where the odds are heavily stacked against fans.
VIE.gg offers exchange style wagering on e-sports events in a licensed, regulated and secured platform to the global e-sports audience, excluding jurisdictions that prohibit online gambling. VIEe.gg features wagering on the following e-sports games: Counter-Strike: Global Offensive (CSGO), League of Legends, Dota 2, Call of Duty, Overwatch, PUBG, Hearthstone and StarCraft II.
Shares of the company in the OTC market in New York settled on Monday at $0.70, down almost 4%.
Esports Entertainment Group is a licensed online gambling company with a specific focus on esports wagering and 18-years old plus gaming. The company's headquarters is based in St Mary's, Antigua.