Tiidal Gaming Group Corp (CSE:TIDL) CEO Tom Hearne has told shareholders that the company’s Flash Markets betting product will “revolutionize esports and create an entirely new addressable segment of the market.”
New technology offering from Sportsflare, a wholly owned division of Tiidal Gaming, allows bettors to place Flash bets on popular esports titles including League of Legends and Dota 2.
“Based on a deep understanding of artificial intelligence (AI) and esports, they have been able to develop market-leading technologies that can make in-game predictions and provide a unique offering that competitors cannot. The result of this is Flash Markets, a betting product that is the first of its kind for esports,” Hearne said in a letter to shareholders.
READ: Tiidal Gaming Group announces proposed renaming to Sportsflare and $500,000 private placement funding
“Flash markets allow a player/bettor to see live a League of Legends or Dota 2 board (and soon a CS:GO or FIFA board), see player positions and be given the opportunity to make a selection making bets on which player or team will get the next kill or which tower will come down next,” he added.
Hearne said the “innovative product” is currently in the “test cycle with four great esports brands and we’re getting positive feedback.”
The company said it had the opportunity to showcase its product to the world’s top direct-to-consumer betting sites, as well as the industry’s best business-to-business providers, at SBC Summit Barcelona.
“Everyone was excited to see the product firsthand and wanted to know when and how to access it,” added Hearne.
“Our goal, based on this show, is to distribute the product through these two channels so that we can highlight our product with the best and leading sports betting sites in the world.”
Hearne noted that the company’s focus will be on nurturing relationships with prospects and converting them into customers in the near future.
“You can expect us to make more announcements on the Flash Markets product in the fall of 2022,” he added. “This is what we’ve been waiting for – an opportunity to grow the business after ensuring we have the product range we need to be successful.”
Part of that was access to live data, according to the company. In July of this year, it signed a deal with Bayes Esports and gained access to live data for Riot and ESL League games.
“This is the only way to successfully develop a robust live betting product,” says Hearne. “Our competitors scrape data from other websites to achieve this, which we don’t think will succeed as it’s an inferior method.”
Hearne told shareholders that the company’s deal with Bayes was twofold. “Not only did we gain access to the best data available, but we also gained a new customer,” he said. “At SBC, Bayes announced that they will be launching Bodex, the esports betting platform that will be the new esports base for Betradar customers. We are part of the pre-match and live odds offering in Bodex. This is the start of growing our revenue base and demonstrating our product capabilities at the highest level.”
Meanwhile, Hearne pointed out that despite the tech sector facing a correction in stock markets and a lack of funding activity in North American capital markets, Tiidal Gaming insiders, who collectively own over 50% of the company’s share capital, have continued to invest in the Company through the current $0.10 unit funding by purchasing shares on the open market.
“I’ve invested about $200,000 since I joined the company earlier this year,” Hearne said. “We are fortunate to have a core group that believes strongly in what we do and in the significant opportunities this market offers over the next few years. Skill-based betting, in-game betting and esports represent a sky-blue opportunity.”
Contact author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive