GRID, an official esports match data and technology platform, has announced an expansion of its betting division, GRID Bet.
The company aims to utilize its relationship with industry leaders such as Riot Games, ESL FACEIT Group, BLAST, Ubisoft, and KRAFTON to kickstart the stunted esports betting industry.
Moritz Maurer, CEO and co-founder of GRID, said, “The esports betting market has long been challenged by solutions that weren’t built for its unique demands, and the lack of official data, despite the digital nature of the sport, has stunted growth and innovation.”
In a post on LinkedIn, Maurer continued, “With GRID Bet, we are doubling down on the unique assets—official, live match data coming from our long-term, exclusive partnerships with the leading esports rights holders.
Image Credit: GRID Esports
“Official data is the single proven foundation for a successful and engaging esports betting product. This expansion reflects GRID’s commitment to equipping operators with an end-to-end suite of tools to confidently launch, manage, and scale their esports offerings with unique products only official data can enable.”
The new product suite will be launched in October. GRID Bet will feature betting on the most-wagered-on esports titles, including Counter-Strike 2, Dota 2, League of Legends, and VALORANT.
Official Data Behind Successful Sports Betting Products
GRID co-founder Tom Warburton has been named as Chief Business Officer to lead the vertical. Warburton said he aims to bring his years of experience at SkyBet and Genius Sports to implement a data-driven approach to sports betting.
He commented, “All of the most impressive sports betting products I’ve ever worked with had one element in common, they were powered by official data.”
He went on to add, ”Trading efficiency, accuracy of odds, live betting, and the breadth of the offering can only be unlocked with official data, especially in the digital world of esports, where the game server is the one source of truth.”
Warburton and Maurer founded GRID seven years ago, along with Chris King and Mikael Westerling, after leaving roles at Genius Sports.
The company is the leading esports data provider following Bayes Esports‘ filing for insolvency last month.
Warburton concluded by saying, “I’m excited to lead this new chapter at GRID, and I am confident in our ability to deliver an esports betting solution that answers the demands of operators and accelerates the category’s growth.”
Call For Companies To Take Products To ‘Next Level’
In his own post on LinkedIn, Maurer called on companies to get involved in the future of esports.
He wrote, “For the first time in esports, a powerful data foundation now exists through a combination of scalable technology and strong partnerships with rights holders.
“If you ever considered entering the space or taking your product to the next level, this is your sign to do so.”
The company now has over 100 employees and generates an estimated $16.5 million per year in revenue.
In its quest to unlock the potential of live data, last year GRID hired Tim Sevenhuysen (100 Thieves) and Julian Schwartz (YouTube Gaming, PUBG Corp).
At the time of the appointments, Maurer signalled the company’s continued strategy, stating, “We aim to truly unlock the potential of in-game data by creating meaningful connections across the entire ecosystem — from rights holders through media partners to the single fan experience.”