SharpLink Gaming and Quintar made news in the online sports betting industry on Tuesday, announcing a partnership to integrate their respective technologies. The combination of the products will be used to create an augmented reality experience that joins sports betting with live athletic events.
This will be a first-of-its-kind creation in the surging sports betting industry. Sports wagering is all about innovation, and this partnership will take both companies to the next level. The augmented reality product is expected to be heavily sought out by people throughout the world.
Details of the partnership between SharpLink and Quintar
Consumers of the augmented reality sports betting product will be able to utilize it live from events or the comfort of their own homes. The multiple layers of the product will make it very popular amongst people who are craving more in sports betting.
SharpLink’s technology development team will merge with the respective department at Quintar. They will create a product that will allow sports bettors to get in on the augmented reality experience.
It will also allow the consumers to check the game data from their desired events, compare betting lines, socialize with fellow bettors, and place bets through numerous operators. The social aspect of augmented reality technology will be an aspect that the company focuses on when marketing.
Rob Phythian, Co-Founder and CEO of SharpLink, was quoted in the press release for the announcement. He said;
“This is truly game-changing innovation at its finest and will result in SharpLink and Quintar delivering sports fans with an unprecedented, interactive, game-day experience when engaging with and betting on their favorite sports, teams, and players. I have known Jay and Jeff for years and firmly share their belief that through development of cutting-edge technology, the opportunity in AR-enhanced online sports betting could be highly disruptive to the industry.
Moreover, given our combined industry experience and similar spheres of influence with key decision makers in sports media, we also share the belief that growth opportunities for both our companies could prove to be potentially limitless in the long-term.”
The backend of the product will be SharpLink’s responsibility. This is the registration, scoring, grading, and the other technical portions of the creation. Quintar’s specific job will be to integrate the augmented reality portions of the invention with live sporting events.
The joint market
There is a significant demand for augmented reality because this is an emerging industry that people enjoy. The global value of the market is expected to exceed $125 billion by the end of 2026. The sports betting market will be worth $150 billion by this time.
Joining these two emerging industries will create a joint market totaling $275 billion. Jayaram, CEO of Quintar, spoke about this following the merger. He noted;
The global Extended Reality market, which includes AR, is expected to exceed $125 billion by the end of 2026 and, according to market research firm Statista, reach 85 million AR users in the United States alone by the end of 2023. When combined with the forecasted $150 billion market opportunity in U.S. sports betting, the long-term value proposition presents explosive growth potential for enterprising companies taking the lead in delivering technology-enabling solutions to fans, sports media operators, and sportsbooks.”