SharpLink Gaming Cleared in Kentucky to Offer Online Sports Betting Conversion Solutions

Rhea-AI Summary

SharpLink Gaming Ltd. has been legally authorized to operate in 26 U.S. states, the District of Columbia, Puerto Rico, and Ontario, Canada, and is cleared by Kentucky to offer online sports betting conversion solutions. Kentucky is the 29th jurisdiction in which SharpLink has been legally cleared to operate. This marks another critical inflexion in the Company's national expansion plans. Legal in-person sports betting began in Kentucky on September 7, 2023, and online sports betting becomes legally effective on September 28, 2023.

Positive

• SharpLink has access to an audience that is wagering nearly 100% of total monthly sports betting handle (as of August 2023).

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• None.

Licensing Initiatives Result in SharpLink Legally Authorized to Operate in 26 U.S. States, the District of Columbia, Puerto Rico and Ontario, Canada

MINNEAPOLIS, MN / ACCESSWIRE / September 26,2023 / SharpLink Gaming Ltd. (Nasdaq:SBET) ("SharpLink" or the "Company"), a pioneer of targeted, data-driven fan activation and conversion solutions for the U.S. sports betting and iGaming industries, today announced that the Company is cleared by Kentucky to offer online sports betting conversion solutions to sports media operators, leagues, teams and sportsbooks also licensed to operate in the state.

Kentucky became the 37^th state in the nation to legalize sports betting with the signing of HB 551 into law on March 31, 2023 - and is the 29^th jurisdiction in the U.S. and Canada in which SharpLink has been legally cleared to operate, marking another critical inflexion in the Company's national expansion plans. Legal in-person sports betting began in Kentucky on Thursday, September 7, 2023 and online sports betting becomes legally effective this Thursday, September 28, 2023.

"As more states approve online sports betting and the audience of prospective U.S. sports bettors continues to rise, SharpLink intends to remain at the forefront of reaching, engaging and converting sports fans into online sports bettors through our technological innovations wherever online sports betting has been legalized. Having succeeded in winning regulatory authorization to operate in 29 jurisdictions across North America, thus far, SharpLink now has access to an audience that is wagering nearly 100% of total monthly sports betting handle (as of August 2023). With audience aggregation a core defined KPI for SharpLink in 2023, this new license in Kentucky represents yet another important step forward in our efforts to reinforce the fact that SharpLink is getting the job done," stated Rob Phythian, SharpLink's Chief Executive Officer.

About SharpLink Gaming Ltd.

Founded in 2019, SharpLink is a leading online technology company that connects sports fans, leagues and sports websites to relevant and timely sports betting and iGaming content. SharpLink uses proprietary, intelligent, online conversion technology to convert sports fans into sports bettors for licensed, online sportsbook operators. In addition, SharpLink specializes in helping sports media companies, leagues, teams and sportsbooks develop strategies, products and innovative solutions to drive deep fan activation and engagement with highly interactive free-to-play games and mobile applications. Further, SharpLink owns and operates a variety of real-money fantasy sports and sports simulation games and mobile apps on its platform; and is licensed or authorized to operate in every state in the United States where fantasy sports and online sports betting has been legalized. SharpLink's proprietary fantasy sports platform reaches more than two million fantasy sports fans who spend almost $40 million annually on its portfolio of digital gaming experiences and contests. For more information, please visit the SharpLink website at www.sharplink.com.

Forward-Looking Statements

This release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the expected growth in the online betting and iGaming industries, the Company's ability to grow its business, the potential benefits of the Company's products, services and technologies and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, government regulation of online betting, customer acceptance of new products and services, the demand for its products and its customers' economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company and its competitors, general economic conditions and other risk factors detailed in the Company's annual report and other filings with the United States Securities and Exchange Commission. The Company does not undertake any responsibility to update the forward-looking statements in this release.

CONTACT INFORMATION:

MEDIA:

Hot Paper Lantern
Michael Adorno, Vice President, Communications
Phone: 212-931-6143
Email: madorno@hotpaperlantern.com

INVESTOR RELATIONS:

Email: ir@sharplink.com

SOURCE: SharpLink Gaming Ltd.

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