Novomatic's Greentube Breaks into Esports with HERO Acquisition
Novomatic’s Interactive division, Greentube, is making an ambitious move into the esports segment, an industry that has been overflowing with developments in 2020. To this end, Greentube has acquired HERO, a blockchain-powered esports betting provider which will allow the company to unfold its offer in the new vertical.
Unlike other esports betting experiences, HERO wants to eliminate the middleman and allow participants to create their own contests and vie against one another over the outcome of games. In a way HERO is no different in concept than Betfair, a popular sport betting exchange and a disruptor. With a strong recruitment drive planned for 2021, Greentube is looking to capitalize on esports this year.
To this end, HERO has developed a proprietary platform and the HEROcoin blockchain token, which enables on-platform contests shaped by consenting esports enthusiasts. This adds to the transparency and reliability of the offer, argues HERO.
Greentube has made its decision based on raw data and future prospects for the project, with HERO now enjoying over 300,000 active players. An added benefit to the offer is the underpinning HEROnetwork which allows the company to develop various pools, betting and fantasy options, and even poker systems.
Exploring New Opportunities in Esports
By agreeing to this purchase, Greentube is also stepping in an ambitious new vertical in which it has not been hitherto represented. This has elicited strong and positive reactions from the executives both at HERO and Greentube.
For his part, Greentube CFO Michael Bauer is happy with the latest acquisition, allowing the company to grow and add an innovative product, even if Greentube is now operating in what he described as “uncharted territories.”
Yet, the potential of esports is there. “We are excited to explore the possibilities that lie ahead together with HERO,” Bauer added. HERO CEO Paul Polterauer argues that the platform he has helped create upends what is known for the esports trend and busts the myth that “the house always wins.”
“Being acquired by such a renowned company as Greentube is a huge testament to the hard work we have put into developing and evolving our products. Together with Greentube, we will be able to reach new heights,” Polterauer said.
According to HERO CTO Philip Peinsold, HERO steps in an industry that needs a little more transparency and clarification. HERO’s objective is to break away with traditional betting systems, said Peinsold, and to revolutionize the market.
Greentube is a fitting partner, explained Peinsold, as the company is committed to a future where innovation drives decisions. “Together, we will continue to evolve our products and offer players something different,” Peinsold concluded.
Gaming and betting companies have shown considerable interest in the burgeoning esports segment. Polish sportsbook STS has launched a new esports campaign to consolidate its footprint in the country and growing esports vertical and Luckbox has continued its recruitment push.
Meanwhile, esports continues to grow and more traditional sportsbooks are making overtures into the competitive video gaming space.