WNRS - Winners Subsidiary VegasWINNERS Receives Approval as a Sports Wagering Vendor from the Tennessee Education Lottery Corporation

Rhea-AI Summary

Winners, Inc. (OTC PINK:WNRS) announced that its subsidiary, VegasWINNERS Inc., has been approved by the Tennessee Education Lottery Corporation as a sports wagering vendor. This allows the company to refer customers to licensed sportsbooks in exchange for commission payments. Tennessee has seen remarkable growth in sports betting since its launch, with gross revenue reaching $49 million and wagers totaling $523 million by January 2021. VegasWINNERS plans to obtain affiliate licenses in all states with legal sports gambling, aiming to capitalize on the rapidly expanding online gambling industry projected to reach $92.9 billion by 2023.

Positive

• Approval as a sports wagering vendor enhances company credibility and market presence.
• Tennessee's sports betting market shows significant growth potential with over $1.1 billion in wagers taken in 2021.
• The online gambling sector is expected to expand rapidly, benefiting the company's business model.

Negative

• None.

LAS VEGAS, Aug. 24, 2021 /PRNewswire/ -- Winners, Inc. (OTC PINK:WNRS) subsidiary VegasWINNERS Inc., which provides sports betting enthusiasts with high quality content, analysis, research, data, guidance and professional advice, announced it has received approval from the Tennessee Education Lottery Corporation as a sports wagering vendor and is now able to refer customers in Tennessee to licensed sports books in return for commission payments.

The State of Tennessee became an online-only, sports betting state in April 2019 when the Tennessee Sports Gaming Act became law in Tennessee. Tennessee sports betting revenue is off to one of the hottest starts of any state to date. Reports from January 2021 pushed Tennessee's gross sports betting revenue to $49 million and wagers to $523 million since its November 2020 launch. This nearly doubles Indiana's $274 million, which was the previous record for a market's first three months. Virginia has since surpassed this figure, but Tennessee continues to post impressive figures. Halfway through 2021, The Volunteer State has taken in over $1.1 billion in sports wagers. With NFL and college football still to come this fall, betting volume is expected to be even higher in the second half of the year. For further information, please see https://www.sportsbettingdime.com/tennessee/sports-betting-revenue/.

"This is positive news for our company. It's even more affirmation for our vision as sports gambling explodes in popularity. We hope to have affiliate licenses in every state with legal sports gambling. From my 36 years in this industry, I can tell you Tennessee is a state filled with enthusiastic sports bettors and we are honored and excited to be part of sports betting in the great state of Tennessee," stated Wayne Allyn Root, CEO of VegasWINNERS.

The online gambling sector is expanding at a rapid pace. According to a Research & Markets report, the industry should reach $92.9 billion by 2023, growing at an annual compound rate of 11.6%. Projections say that rising technologies such as IoT, Blockchain, and VR will drive the industry forward and that North America will keep pace with the rest of the world, as its market should grow at a rate of 14.78% until 2025. For further information, please see https://dailygazette.com/online-gambling-in-the-united-states-in-2021/.

VegasWINNERS is a licensed sports gaming affiliate that intends to drive traffic to gaming operators for commission. VegasWINNERS is currently registered in several states and has made application in additional states. It is the intent of VegasWINNERS to get licensed in all states that allow online sports gambling. To date, online sports gambling has been legalized in Virginia, Nevada, New Jersey, West Virginia, Pennsylvania, Rhode Island, Iowa, Oregon, Indiana, New Hampshire, Michigan, Colorado, Illinois, Tennessee, Mississippi, Montana and Washington DC. VegasWINNERS is not affiliated with the Tennessee Education Lottery Corporation.

ABOUT WINNERS, INC. 
Winners, Inc. (OTC PINK:WNRS) through its operating subsidiary VegasWINNERS, Inc. is engaged in the business of sports gambling research, data, advice, analysis and predictions utilizing all available media, advertising formats and its database of users. Revenues are expected to accelerate due to the explosion of sports handicapping arising from the 2018 Supreme Court decision that States have the right to approve sports gambling and the resulting State by State rapid approval of sports gambling. VegasWINNERS is a registered sports gambling affiliate that intends to drive traffic to gaming operators for commission. VegasWINNERS is currently registered in West Virginia, Indiana, Colorado, New Jersey, Tennessee and able to operate in Nevada, Illinois and Iowa and has made application in several additional states. For more information, please visit Winners, Inc. websites https://vegaswinners.com and https://krushhouse.com; Twitter https://twitter.com/vegaswinnersinc; Facebook https://www.facebook.com/winnerskrush; Instagram https://www.instagram.com/winnerskrush.

SAFE HARBOR STATEMENT 
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

FOR MEDIA INQUIRIES, PLEASE CONTACT:
Tom Terwilliger
CEO
hq@winnersinc.com
+1 954-908-3366

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SOURCE Winners, Inc.

FAQ

What recent approval did Winners, Inc. announce regarding its subsidiary?

Winners, Inc. announced that its subsidiary, VegasWINNERS Inc., received approval from the Tennessee Education Lottery Corporation as a sports wagering vendor.

What is the impact of Tennessee's sports betting market on Winners, Inc.?

Tennessee's rapidly growing sports betting market, with over $1.1 billion in wagers, presents a significant opportunity for Winners, Inc. as it can now refer customers and earn commissions.

What are the future aspirations of VegasWINNERS in the sports betting industry?

VegasWINNERS aims to obtain affiliate licenses in all states that permit online sports gambling, capitalizing on the industry's expansion.

How much revenue has Tennessee's sports betting market generated so far?

As of January 2021, Tennessee's sports betting market generated a gross revenue of $49 million and has taken in over $1.1 billion in wagers halfway through 2021.

What is the projected growth of the online gambling industry?

The online gambling industry is projected to reach $92.9 billion by 2023, growing at an annual compound rate of 11.6%.