Under their agreement, Elys will provide sports wagering services via its wholly owned subsidiary USBookmaking. More importantly, this partnership is an attempt by Elys to transplant its Washington DC business model to Ohio.
The company’s strategy will purportedly allow “non-conventional gaming venues,” such as bars and restaurants, to offer sports betting services to their patrons.
“We are thrilled to enter into this partnership with Elys,” said Dr Kamal Morar, Wright Bet Ventures’ Co-Founder.
Morar added: “Our goal is to create the next level of interactive gaming experiences for Ohioans while we are enjoying events with friends and family in the comfort of places we already know and love.”
If Elys and Wright Bet’s new venture is approved by Ohio’s Casino Control Commission (OCCC), they could offer up to 12 sportsbook locations throughout the state.
This comes ahead of sports betting’s launch in Ohio. In December 2021, Governor Mike DeWine signed bill HB 29 into law, legalising the activity in the Midwestern state. Sports betting is expected to be live by January 2023.
Michele Ciavarella, Executive Chairman of Elys, commented: “We look forward to expanding our US footprint into the state of Ohio and importantly contribute to the grassroots economy by partnering with local businesses and passionate entrepreneurs like Dr Kamal Morar and the entire team at Wright Bet.
“We expect our expansion to cover each potential sector of sports betting distribution in North America through 2022 and 2023 and believe this growth could result in strong corporate earnings, and extract value for our partner businesses like Wright Bet, investors and shareholders in the long term.”
