Adveritas Limited (ASX:AV1) Accelerates Growth in Sports Betting
Strategic Progress Update
Adveritas Limited (ASX:AV1) has reported significant progress in its strategic priorities aimed at enhancing growth in the sports betting and eCommerce sectors. The Company successfully signed new and renewal contracts with major sports betting organisations, increasing its market presence.
Market Share Expansion
TrafficGuard has made strides in the lucrative sports betting market, securing contracts with influential firms such as LeoVegas, FanDuel, and Bally’s. The cumulative annual contract value from these agreements amounts to approximately $1.1 million. With over 1,000 sports betting companies globally, TrafficGuard currently services about 60, indicating a potential opportunity for further market penetration.
Product Development Insights
Investment in product development across platforms like Meta, including Facebook and Instagram, will facilitate cross-selling of new protection solutions to the sports betting customer base. These solutions are in beta testing, with a commercial rollout slated for the second half of FY2025, aimed at enhancing customer engagement and contract value.
Positive Outlook for the Future
Adveritas is optimistic for the March 2025 quarter, with ongoing negotiations spanning sports betting, eCommerce, and agency partnerships. The Company focuses on expanding its global sports betting market share, entering eCommerce sectors, and establishing strategic agency partnerships.
Mathew Ratty, Co-founder and CEO of Adveritas, stated, “We are well-positioned to capitalize on market opportunities, leveraging our innovative solutions to meet growing customer needs.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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