Singlepoint,
Inc. (OTC: SING), a leading mobile technology and payments provider, is making
its mark in the daily fantasy sports (DFS) industry, just months after
officially entering the market with minority acquisitions in two major DFS
companies: GoDraft and DraftFury. One of the fastest growing industries at the
moment, the DFS market brings together millions of people spending an average
of $550+ every year, with 39% of them using a mobile device to pay, according
to Fantasy Sports Trade Association (FSTA) statistics.
The
minority acquisitions, in particular the participation in DraftFury, will allow
Singlepoint to capitalize on this fast-growing market, especially at the height
of the NFL season. Singlepoint is currently the only publicly traded company in
the U.S. that allows shareholders to be involved in DFS, and it is planning to
take a noticeable stake in the industry, according to company CEO Greg
Lambrecht. Even a small stake could be game changing, given that the daily
fantasy games industry is expected to grow at a rate of roughly 41% per year,
reaching $14.4 billion in entry fees alone by 2020. For reference, entry fees
were about $2.6 billion last year.
According
to FSTA data for 2015 (http://dtn.fm/dda0A), about 20% of the U.S. population
and about 17% of the Canadian population over 12 years of age play daily
fantasy sports, totaling 57.4 million people. For comparison, there were
roughly 15 million players in 2003. Of these 57.4 million, 66% are male and 34%
are female, with an average age of 38.6. Also, the FSTA found that daily
fantasy sports players are overall better educated, as 66% of them have a
college degree or more. Most of them have a household income of more than
$75,000, while 67% have full-time employment.
The
average spending per fantasy player of 18+ years of age is $556, money spent on
league-related costs and materials and single-player challenge games.
Statistics also show that a total of 70% of daily fantasy sports participants
pay league fees, and the most popular fantasy sport remains football.
Additionally, a growing number of players now use some sort of mobile device to
play – 39%, compared to only 25% in 2012. Players use their mobile devices for
activities such as checking the score of their games or of other games in their
league, drafting a team and/or changing line-ups, joining a fantasy sports
league, researching players, posting comments, and viewing or listening to
fantasy sports media ranging from podcasts and radio shows to TV or online videos.
With
its minority investments in GoDraft and DraftFury, and with other planned
acquisitions in the DFS vertical in the future, Singlepoint could be primed to
become a significant player on the market. Founded in 2006, the company is
currently a leading provider of mobile technology, mobile marketing and mobile
payment services. Its products target small to mid-sized enterprises by
offering solutions that allow clients to conduct business transactions, engage
in targeted mobile communication or accept donations.
For
more information, visit the company’s website at www.Singlepoint.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
No comments:
Post a Comment