SEATTLE, Sept. 05, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – SinglePoint Inc. (OTCQB:SING) announces an additional investment into StakeHaul, the No. 1 peer-to-peer betting application. StakeHaul offers a unique way for individuals to bet on anything, from the NFL week one matchups to who will win your weekend’s round of golf.
The StakeHaul platform is the future of social betting. StakeHaul is currently on the Apple App Store and the Google Play store and is the #1 ranked app for all of your bets against your friends. StakeHaul has had over 70,000 lifetime downloads and consistent double-digit percentage growth in both monthly active users and bets placed on the platform. StakeHaul is finalizing testing for a new peer-to-peer payment model for lost bets in both USD and cryptocurrency, which will be a first in the industry.
StakeHaul is well positioned to take advantage of an evolving $150B betting industry now that the U.S. Supreme Court in May 2018 struck down the Professional & Amateur Sports Protection Act (commonly known as “PASPA”). Prior to this, 70% of Americans favored the legalization of betting.
Over one-third of all Americans bet on at least one sports event annually. In the case of millennials, that number increases considerably, with millennials betting on something at least once annually. Ninety-seven percent of Americans that bet make more bets outside of casinos than at the casino.
StakeHaul has a patent pending on the technology and the processes behind the betting model, which started in March 2017. “All in all, our unique features, our ease of use, and the legal momentum behind betting in the U.S. makes our opportunity not just a home run, but a grand slam,” states Jeffery Lippert, founder of StakeHaul.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry.
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