Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting (Details)

v3.23.2
Segment Reporting (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Segment Reporting Information [Line Items]        
Revenue     $ 22,554,771 $ 22,583,721
Betting platform and services revenue $ 636,560 $ 687,136 1,214,016 1,342,796
Intercompany Service revenue    
Operating expenses        
Intercompany service expense    
Selling expenses 9,565,920 7,868,719 19,434,074 17,154,951
General and administrative expenses 4,968,342 4,317,984 9,416,089 8,888,410
Depreciation and amortization 344,001 453,274 691,324 892,232
 Total operating expenses 14,878,263 13,845,666 29,541,487 28,141,282
Income (Loss) from operations (3,541,622) (3,497,931) (5,772,700) (5,557,561)
Other (expenses) Income        
Interest expense, net of interest income (75,291) (9,678) (111,227) (13,537)
Amortization of debt discount (55,710) (73,270)
Other income 4,598 29,103 13,444 68,852
Other expense (7,653) (9,941) (16,681) (11,011)
Gain on marketable securities (999) 15,000 (19,999) 92,500
Total other income (expense) (135,055) (441,277) (207,733) (778,970)
Income (Loss) before Income Taxes (3,676,677) (3,939,208) (5,980,433) (6,336,531)
Income tax provision 127,556 123,949 137,951 (32,944)
Net Income (Loss) (3,549,121) (3,815,259) (5,842,482) (6,369,475)
General and administrative expenses       9,780,642
Restructuring and severance expenses 1,205,689 1,205,689
Change in Fair value of contingent purchase consideration $ (465,761) (915,774)
All other        
Segment Reporting Information [Line Items]        
Revenue    
Betting platform and services revenue      
Intercompany Service revenue    
Operating expenses        
Intercompany service expense     54,080
Selling expenses    
General and administrative expenses     2,774,764  
Depreciation and amortization     12,754  
 Total operating expenses     2,841,598 4,101,704
Income (Loss) from operations     (2,841,598) (4,101,704)
Other (expenses) Income        
Interest expense, net of interest income     (72,733)
Amortization of debt discount     (73,270)  
Other income    
Other expense     (2,075)
Gain on marketable securities     (19,999) 92,500
Total other income (expense)     (168,077) 92,500
Income (Loss) before Income Taxes     (3,009,675) (4,009,204)
Income tax provision    
Net Income (Loss)     (3,009,675) (4,009,204)
General and administrative expenses       2,896,015
Restructuring and severance expenses       1,205,689
Change in Fair value of contingent purchase consideration      
Betting platform software and services        
Segment Reporting Information [Line Items]        
Revenue     1,085,591
Betting platform and services revenue     1,214,016  
Intercompany Service revenue     1,976,065 1,090,245
Operating expenses        
Intercompany service expense     76,591
Selling expenses     79,742 163,146
General and administrative expenses     3,297,260  
Depreciation and amortization     552,083  
 Total operating expenses     3,929,085 4,183,061
Income (Loss) from operations     (739,004) (2,007,225)
Other (expenses) Income        
Interest expense, net of interest income     (38,156) (12,462)
Amortization of debt discount      
Other income     1,000 2,379
Other expense     (14,581) (11,004)
Gain on marketable securities    
Total other income (expense)     (51,737) (936,681)
Income (Loss) before Income Taxes     (790,741) (2,944,086)
Income tax provision     137,951 159,077
Net Income (Loss)     (652,790) (2,785,009)
General and administrative expenses       3,943,324
Restructuring and severance expenses      
Change in Fair value of contingent purchase consideration       (915,774)
Intersubsegment Eliminations [Member]        
Segment Reporting Information [Line Items]        
Revenue    
Betting platform and services revenue      
Intercompany Service revenue     (2,030,145) (1,166,836)
Operating expenses        
Intercompany service expense     (2,030,145) (1,166,836)
Selling expenses    
General and administrative expenses      
Depreciation and amortization      
 Total operating expenses     (2,030,145) (1,166,836)
Income (Loss) from operations    
Other (expenses) Income        
Interest expense, net of interest income    
Amortization of debt discount      
Other income    
Other expense    
Gain on marketable securities    
Total other income (expense)    
Income (Loss) before Income Taxes      
Income tax provision    
Net Income (Loss)    
General and administrative expenses      
Restructuring and severance expenses      
Change in Fair value of contingent purchase consideration      
Betting establishments        
Segment Reporting Information [Line Items]        
Revenue     22,554,771 21,498,130
Betting platform and services revenue      
Intercompany Service revenue     54,080 76,591
Operating expenses        
Intercompany service expense     1,976,065 1,090,245
Selling expenses     19,354,332 16,991,805
General and administrative expenses     3,344,065  
Depreciation and amortization     126,487  
 Total operating expenses     24,800,949 21,023,353
Income (Loss) from operations     (2,192,098) 551,368
Other (expenses) Income        
Interest expense, net of interest income     (338) (1,075)
Amortization of debt discount      
Other income     12,444 66,473
Other expense     (25) (7)
Gain on marketable securities    
Total other income (expense)     12,081 65,391
Income (Loss) before Income Taxes     (2,180,017) 616,759
Income tax provision     (192,021)
Net Income (Loss)     $ (2,180,017) 424,738
General and administrative expenses       2,941,303
Restructuring and severance expenses      
Change in Fair value of contingent purchase consideration