jokinjoe
1 day ago
Good point, football is getting to be the most popular betting sport and was referenced in the February PR;
CARLSBAD, CA, February 21, 2024 (OTCMARKETS) -- International Endeavors Corp. ("IEC") (OTC PINK: IDVV), a technology holdings company announced the following statement.
As stated previously, the company has focused on several action items including solidifying WITech.ai as the main holding of the company, eliminating costs, and expanding its product offerings while preparing for acquisitions.
Today WITechs main product/service is a customizable AI Bot that uses technology developed by WITech. This product has been a success, and we anticipate revenue from sales and licensing of this technology will contribute to increase shareholder value and open up further opportunities.
We are pleased to announce that we are ready to expand WITechs offerings. IEC is in final negotiations to enter an LOI to acquire a company focused on using AI in adult markets.
Beginning with sports betting aka handicapping, the company were in negotiations with has developed an AI based platform to assist with picking winners, research, and odds management for fantasy leagues, and professional sports handicapping (NFL, NBA, UFC, MLB, MLS) and Horse betting.
Recently due to the legalization of sports betting the industry has catapulted to a multi-billion-dollar industry and showing no signs of slowing down. According to americangaming.org, legalizing sports betting wont just bring the law in line with American attitudes and desires it will also deliver powerful economic benefits, possibly generating $8 billion in local taxes, creating hundreds of thousands of jobs, and adding $22.4 billion to the gross domestic product, accordingto new a comprehensive study on the economic impact of a legalized U.S. sports betting market.
According to statista.com, between 2015 and 2022, thenumber of fantasy sports players in the U.S.grew steadily. As of 2022, the total number of U.S. fantasy sports players reached 50.4 million. When looking at theages of these U.S. fantasy sports players, the largest share was made up of 18 to 39-year-olds, who accounted for 71 percent of all players. Meanwhile, data documenting thegender distribution of U.S. fantasy sports players, showed that most fantasy sports players in the U.S. identified as male.
Superbowl LVIII just posted betting records. The AGA projected thatAmericans would bet $23.1 billionon Super Bowl LVIII, andNevada ($185.6M)andNew York ($162.2M)already reported enormous numbers from the game.
ESPN stated that with North Carolina launching legal online sports betting in early March -- just in time for March Madness -- a new record quarter for Q1 2024 seems all but assured.
In other words, the stats are there and with the success of platforms like Draftkings and MGM Bet and WYNN it makes sense for the company to pursue this sector as a way to grow its AI platform. We see a massive opportunity for a subscription-based model.
We plan to incorporate our technology into what has already been developed and launch our first products, such as website, apps and advertising campaign for a sports handicapping AI in early Q3 2024. We will be announcing more shortly as the LOI finalizes.
Relevant Links
https://www.americangaming.org/resources/economic-impact-of-legalized-sports-betting/
https://www.statista.com/topics/10895/fantasy-sports-in-the-us/#topicOverview
https://www.espn.com/nfl/story/_/id/39469575/americans-expected-bet-231b-super-bowl-lviii