Document:

Exhibit 4.1

 

THE REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER
OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL
NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF THREE HUNDRED SIXTY DAYS FOLLOWING THE
EFFECTIVE DATE OF THE REGISTRATION STATEMENT (DEFINED BELOW) TO ANYONE OTHER THAN (I) MAXIM GROUP, LLC OR AN UNDERWRITER OR A
SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF MAXIM GROUP, LLC OR OF ANY SUCH UNDERWRITER
OR SELECTED DEALER, OR (III) AS OTHERWISE PERMITTED BY FINRA RULE 5110(G).

 

THIS PURCHASE WARRANT IS NOT EXERCISABLE
PRIOR TO ________, 2021[DATE THAT IS ONE YEAR FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT]. VOID AFTER 5:00 P.M., EASTERN
TIME, ____________, 2025[DATE THAT IS FIVE YEARS FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT].

 

WARRANT TO PURCHASE COMMON STOCK

 

Esports
Entertainment Group, Inc.

 

	Warrant Shares: ______	Initial Exercise Date: _______, 2021

 

THIS WARRANT TO PURCHASE
COMMON STOCK (the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after ______ __, 2021 (the one-year anniversary of the Effective Date, the “Initial Exercise Date”), and
in accordance with FINRA Rule 5110(f)(2)(G)(i), prior to or at 5:00 p.m. (New York time) on the date that is five (5) years following
the Effective Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from Esports Entertainment
Group, Inc., a Nevada corporation (the “Company”), up to ______ shares of Common Stock, par value $0.001 per
share, of the Company (the “Warrant Shares”), subject to adjustment hereunder. The purchase price of one share
of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1. Definitions.
In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to
close.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common Stock”
means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities
may hereafter be reclassified or changed.

 

“Common Stock
Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

     

     

    

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Trading Day”
means a day on which the New York Stock Exchange is open for trading.

 

“Trading Market”
means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:
the NYSE American LLC, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or the New York Stock
Exchange (or any successors to any of the foregoing).

 

“Transfer
Agent” means VStock Transfer, LLC, the current transfer
agent of the Company, with a mailing address of 18 Lafayette Place, Woodmere,
NY 11598 and a facsimile number of ([●]) [●]-[●], and any successor transfer agent of the Company.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market,
the volume weighted average price of a share of Common Stock for such date (or the nearest preceding date) on the OTCQB or the
OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on the OTCQB or the OTCQX and if prices for
the Common Stock are then reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization
or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported,
or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected
in good faith by the Holder and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

   

Section 2. Exercise.

 

a) Exercise
of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial
Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as
it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company)
of a duly executed facsimile copy (or e-mail attachment) of the Notice of Exercise in the form annexed hereto. Within three (3)
Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares
specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the
cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original
Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice
of Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been
exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading
Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases
of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number
of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and
the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall
deliver any objection to any Notice of Exercise within three (3) Business Days of receipt of such notice. The Holder and any
assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the
purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given
time may be less than the amount stated on the face hereof.

 

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b) Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $____,1
subject to adjustment hereunder (the “Exercise Price”).

  

c) Cashless
Exercise. If at the time of exercise hereof after the Initial Exercise Date there is no effective registration statement registering,
or the prospectus contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may
also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be
entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

	 	(A) = 	the VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless exercise,” as set forth in the applicable Notice of Exercise;
	 	 	 
	 	(B) = 	the Exercise Price of this Warrant, as adjusted hereunder; and
	 	 	 
	 	(X) = 	the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised, and the
holding period of the Warrants being exercised may be tacked on to the holding period of the Warrant Shares.  The Company
agrees not to take any position contrary to this Section 2(c).

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
to this Section 2(c).

 

d) Mechanics
of Exercise.

 

i.   Delivery
of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by its Transfer
Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository
Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant
in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or
resale of the Warrant Shares by Holder or (B) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale
limitations pursuant to Rule 144 and, in either case, the Warrant Shares have been sold by the Holder prior to the Warrant Share
Delivery Date (as defined below), and otherwise by physical delivery of a certificate, registered in the Company’s share
register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to
such exercise to the address specified by the Holder in the Notice of Exercise by the date that is three (3) Trading Days after
the delivery to the Company of the Notice of Exercise and payment of cash if the exercise is a cash exercise pursuant to Section
2(a) above (such date, the “Warrant Share Delivery Date”). If the Warrant Shares can be delivered via DWAC,
the transfer agent shall have received from the Company any legal opinions or other documentation required by it to deliver such
Warrant Shares without legend (subject to receipt by the Company of reasonable back up documentation from the Holder, including
with respect to affiliate status) and, if applicable and requested by the Company prior to the Warrant Share Delivery Date, the
transfer agent shall have received from the Holder a confirmation of sale of the Warrant Shares (provided the requirement of the
Holder to provide a confirmation as to the sale of Warrant Shares shall not be applicable to the issuance of unlegended Warrant
Shares upon a cashless exercise of this Warrant if the Warrant Shares are then eligible for resale pursuant to Rule 144(b)(1)).
The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall
be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with
payment to the Company of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder,
if any, pursuant to Section 2(d)(vi) prior to the issuance of such shares, having been paid. If the Company fails for any reason
to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the second Trading Day following the Warrant Share
Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant
Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per
Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each
Trading Day after the second Trading Day following such Warrant Share Delivery Date until such Warrant Shares are delivered or
Holder rescinds such exercise.

  

 

1
125% of the public offering price per share

    3

     

    

 

ii. Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

 

iii. Rescission
Rights. If the Company fails to cause its Transfer Agent to deliver to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise; provided, however,
that the Holder shall be required to return any Warrant Shares or Common Stock subject to any such rescinded exercise notice concurrently
with the return to Holder of the aggregate Exercise Price paid to the Company for such Warrant Shares and the restoration of Holder’s
right to acquire such Warrant Shares pursuant to this Warrant (including, issuance of a replacement warrant certificate evidencing
such restored right).

 

iv. Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause its Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the second Trading Day following the Warrant Share Delivery Date,
and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s
brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares
which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash
to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any)
for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that
the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell
order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of
the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall
be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company
timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having
a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate
sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company
shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable
to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall
limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares
of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

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v.  No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

vi. Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;
provided, however, that in the event Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder
and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees
to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day
electronic delivery of the Warrant Shares.

 

vii. Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

 

viii. Signature.
This Section 2 and the Notice of Exercise attached hereto set forth the totality of the procedures required of the Holder in order
to exercise this Warrant.  Without limiting the preceding sentences, no ink-original exercise form shall be required, nor
shall any medallion guarantee (or other type of guarantee or notarization) of any exercise form be required in order to exercise
this Warrant.  No additional legal opinion, other information or instructions shall be required of the Holder to exercise
this Warrant.  The Company shall honor exercises of this Warrant and shall deliver Warrant Shares underlying this Warrant
in accordance with the terms, conditions and time periods set forth herein.

 

e) Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after
exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other
Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in excess of
the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares of Common
Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable upon exercise
of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock
which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder
or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of
the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise
analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates.  Except as set forth
in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section
13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company
is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder
is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained
in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by
the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of
the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant
is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this
Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to
verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with
the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by
the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon the written or oral
request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares
of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after
giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates
since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation”
shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial
Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99%
of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock
upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase
in the Beneficial Ownership Limitation will not be effective until the 61st day
after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner
otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which
may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements
necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a
successor holder of this Warrant.

  

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Section 3. Certain
Adjustments.

 

a) Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the
aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.
For the purposes of clarification, the Exercise Price of this Warrant will not be adjusted in the event that the Company or any
Subsidiary thereof, as applicable, sells or grants any option to purchase, or sell or grant any right to reprice, or otherwise
dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Common Stock or Common
Stock Equivalents, at an effective price per share less than the Exercise Price then in effect.

 

b) Reserved.

 

c) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date
on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder
exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such
extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase
Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in
the Holder exceeding the Beneficial Ownership Limitation).

 

d) Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend (other
than cash dividends) or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock,
by way of return of capital or otherwise (including, without limitation, any distribution of stock or other securities, property
or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction)
(a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall
be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations
on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record
is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock
are to be determined for the participation in such Distribution (provided, however, to the extent that the Holder’s
right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the
Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of
Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for
the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial
Ownership Limitation). To the extent that this Warrant has not been partially or completely exercised at the time of such Distribution,
such portion of the Distribution shall be held in abeyance for the benefit of the Holder until the Holder has exercised this Warrant.

 

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e) Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard
to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring
corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable by holders of Common Stock as a result of such Fundamental Transaction for each share of Common Stock for which this
Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the
exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted
to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor
(the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant in accordance
with the provisions of this Section 3(e) pursuant to written agreements prior to such Fundamental Transaction and shall, at the
option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written
instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares
of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable
upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction,
and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account
the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital
stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of
this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form
and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and
be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to
the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company and
shall assume all of the obligations of the Company under this Warrant with the same effect as if such Successor Entity had been
named as the Company herein.

 

f) Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

g) Notice
to Holder.

 

i. Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall
promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the
number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

    7

     

    

 

ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed a notice to the Holder at
its last address as it shall appear upon the Warrant Register of the Company, at least ten (10) calendar days prior to the applicable
record or effective date hereinafter specified, stating (x) the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common
Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the
date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares
of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale,
transfer or share exchange; provided that the failure to provide such notice or any defect therein shall not affect the validity
of the corporate action required to be specified in such notice. To the extent that any notice provided hereunder constitutes,
or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously
file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except
as may otherwise be expressly set forth herein.

 

Section 4. Transfer
of Warrant.

 

a) Transferability.
Pursuant to FINRA Rule 5110(g)(1), neither this Warrant nor any Warrant Shares issued upon exercise of this Warrant shall be sold,
transferred, assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction
that would result in the effective economic disposition of the securities by any person for a period of 360 days immediately following
the date of effectiveness or commencement of sales of the offering pursuant to which this Warrant is being issued, except the transfer
of any security:

 

i.   by
operation of law or by reason of reorganization of the Company;

 

ii. to
any FINRA member firm participating in the offering and the officers or partners thereof, if all securities so transferred remain
subject to the lock-up restriction in this Section 4(a) for the remainder of the time period;

 

iii. if
the aggregate amount of securities of the Company held by the Holder or related person do not exceed 1% of the securities being
offered;

 

iv. that
is beneficially owned on a pro-rata basis by all equity owners of an investment fund, provided that no participating member manages
or otherwise directs investments by the fund, and participating members in the aggregate do not own more than 10% of the equity
in the fund; or

 

v.  the
exercise or conversion of any security, if all securities received remain subject to the lock-up restriction in this Section 4(a)
for the remainder of the time period.

 

    8

     

    

 

Subject to
the foregoing restriction, any applicable securities laws and the conditions set forth in Section 4(d), this Warrant and all rights
hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this
Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially
in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes
payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver
a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified
in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned,
and this Warrant shall promptly be cancelled. The Warrant, if properly assigned in accordance herewith, may be exercised by a new
holder for the purchase of Warrant Shares without having a new Warrant issued.

  

b) New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial
issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant
thereto.

 

c) Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

 d) Representation
by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any
exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for
distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities
law, except pursuant to sales registered or exempted under the Securities Act.

 

Section 5. Registration
Rights.

 

a) Demand
Registration–Grant of Right. The Company, upon written demand (a “Demand Notice”) of the Holder(s)
of at least 51% of the Warrants and/or the underlying Shares (“Majority Holders”), agrees to register, on one
occasion, all or any portion of the Warrants and the underlying Shares (the “Registrable Securities”). On such
occasion, the Company will file a registration statement with the Commission covering the Registrable Securities within sixty (60)
days after receipt of a Demand Notice and use its commercially reasonable efforts to have the registration statement declared effective
promptly thereafter, subject to compliance with review by the Commission; provided, however, that the Company
shall not be required to comply with a Demand Notice if the Company has filed a registration statement with respect to which the
Holder is entitled to piggyback registration rights pursuant to Section 5(c) hereof and either: (i) the Holder
has elected to participate in the offering covered by such registration statement or (ii) if such registration statement relates
to an underwritten primary offering of securities of the Company, until the offering covered by such registration statement has
been withdrawn or until thirty (30) days after such offering is consummated. The demand for registration may be made at any time
during a period of four (4) years beginning one year after the Effective Date. The Company covenants and agrees to give written
notice of its receipt of any Demand Notice by any Holder(s) to all other registered Holders of the Warrants and/or the Registrable
Securities within ten (10) days after the date of the receipt of any such Demand Notice.

 

    9

     

    

 

b) Demand
Registration–Terms. The Company shall bear all fees and expenses attendant to the registration of the Registrable Securities
pursuant to Section 5(a), but the Holders shall pay any and all underwriting commissions and the expenses of any legal
counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities. The Company agrees
to use its commercially reasonable efforts to cause the filing required herein to become effective promptly and to qualify or register
the Registrable Securities in such States as are reasonably requested by the Holder(s); provided, however,
that in no event shall the Company be required to register the Registrable Securities in a State in which such registration would
cause: (i) the Company to be obligated to register or license to do business in such State or submit to general service of process
in such State, or (ii) the principal shareholders of the Company to be obligated to escrow their shares of capital stock of the
Company. The Company shall cause any registration statement filed pursuant to the demand right granted under Section 5(a) to
remain effective for a period of at least twelve (12) consecutive months after the date that the Holders of the Registrable Securities
covered by such registration statement are first given the opportunity to sell all of such securities. The Holders shall only use
the prospectuses provided by the Company to sell the shares covered by such registration statement, and will immediately cease
to use any prospectus furnished by the Company if the Company advises the Holder that such prospectus may no longer be used due
to a material misstatement or omission. Notwithstanding the provisions of this Section 5(b), the Holder shall be entitled
to a demand registration under this Section 5(b) on only one (1) occasion and such demand registration right shall
terminate on the fifth anniversary of the Effective Date in accordance with FINRA Rule 5110(f)(2)(G)(iv).

 

c) “Piggy-Back”
Registration–Grant of Right. In addition to the demand right of registration described in Section 5(a) hereof,
the Holder shall have the right, for a period of six (6) years commencing one year after the Effective Date, to include the Registrable
Securities as part of any other registration of securities filed by the Company (other than in connection with a transaction contemplated
by Rule 145 promulgated under the Act or pursuant to Form S-8 or any equivalent form); provided, however,
that if, solely in connection with any primary underwritten public offering for the account of the Company, the managing underwriter(s)
thereof shall, in its reasonable discretion, impose a limitation on the number of shares of common stock which may be included
in the registration statement because, in such underwriter(s)’ judgment, marketing or other factors dictate such limitation
is necessary to facilitate public distribution, then the Company shall be obligated to include in such registration statement only
such limited portion of the Registrable Securities with respect to which the Holder requested inclusion hereunder as the underwriter
shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the Holders seeking to include Registrable
Securities in proportion to the number of Registrable Securities sought to be included by such Holders; provided, however,
that the Company shall not exclude any Registrable Securities unless the Company has first excluded all outstanding securities,
the holders of which are not entitled to inclusion of such securities in such Registration Statement or are not entitled to pro
rata inclusion with the Registrable Securities.

 

d) “Piggy-Back”
Registration–Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities
pursuant to Section 5(c) hereof, but the Holders shall pay any and all underwriting commissions and the expenses
of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities. In the
event of such a proposed registration, the Company shall furnish the then Holders of outstanding Registrable Securities with not
less than thirty (30) days written notice prior to the proposed date of filing of such registration statement. Such notice to the
Holders shall continue to be given for each registration statement filed by the Company until such time as all of the Registrable
Securities have been sold by the Holder. The holders of the Registrable Securities shall exercise the “piggy-back”
rights provided for herein by giving written notice, within ten (10) days of the receipt of the Company’s notice of its intention
to file a registration statement. Except as otherwise provided in this Warrant, there shall be no limit on the number of times
the Holder may request registration under this Section 5(d); provided, however, that such registration rights shall
terminate on the seventh anniversary of the Effective Date in accordance with FINRA Rule 5110(f)(2)(G)(v).

 

Section 6. Miscellaneous.

 

a) No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights
as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i).

 

    10

     

    

 

b) Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any certificate relating to the Warrant Shares,
and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant,
shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated,
the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of
such Warrant or stock certificate.

 

c) Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

d) Authorized
Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of executing stock certificates to execute and issue the necessary Warrant Shares upon the exercise of the purchase
rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares
may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market
upon which the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise
of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment
for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from
all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer
occurring contemporaneously with such issue).

 

Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant
and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before taking
any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

e) Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the underwriting agreement, dated _______ ___, 2020, by and between the Company and Maxim Group, LLC as
representatives of the underwriters set forth therein (the “Underwriting Agreement”).

 

    11

     

    

 

f) Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does
not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g) Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision
of this Warrant or the Underwriting Agreement, if the Company willfully and knowingly fails to comply with any provision of this
Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient
to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings,
incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies
hereunder.

 

h) Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Underwriting Agreement.

   

i) Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

j) Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

  

k) Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

l) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

m) Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n) Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

********************

 

(Signature Page Follows)

 

    12

     

    

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	Esports Entertainment Group, Inc.
	 	 
	 	
        By:
	 
	 	 	Name:
	 	 	Title:

  

    13

     

    

 

ASSIGNMENT FORM

 

(To assign the
foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED,
the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 
	 	(Please Print)
	Address:	 
	 	(Please Print)

 

Dated: _______________ __, ______

 

Holder’s Signature: ________________________

 

Holder’s Address: _________________________

 

 

 

 

NOTE: The signature to this Assignment
Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever.
Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority
to assign the foregoing Warrant.

 

    14

     

    

 

[Form to be used to exercise Purchase
Warrant]

 

NOTICE OF EXERCISE

 

		To:	Esports
Entertainment Group, Inc.

 

(1) The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,
if any.

 

(2) Payment
shall take the form of (check applicable box):

 

 ̈
in lawful money of the United States; or

 

 ̈
if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection
2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subsection 2(c).

 

(3) Please
register and issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The Warrant Shares shall be delivered to
the following DWAC Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

Signature of Authorized Signatory of Investing Entity:
_________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

 

15Exhibit 10.23

 

Software Delivery Agreement No: 12-06-14

 

GAMING PLATFORM

 

TO DELIVER A BETTING
GAMING PLATFORM IN LINE WITH THE CLIENT’S FUNCTIONAL REQUIREMENTS

 

THIS AGREEMENT made
effective as of  June 12, 2014  (the “Agreement”)

 

BETWEEN:

 

Swiss Interactive
Software GmbH, Switzerland registered company, with offices located at

Avenue Beauregard 12, CH-1701 Fribourg,
Switzerland (the “Provider”)

 

-AND-

 

DK SinoPharma, Inc. DBA VGambling, with
offices located at Suite No. 4, Weathered Bldg.

Redcliffe Street

St. Johns, Antigua & Barbuda

(the “Licensee”)

 

The Parties to the Agreement hereby premise the following:

 

Provider
assumes responsibility for the development and delivery of the Gaming Platform to the Licensee that is defined within the contents
of Appendix A. Conversely, the Licensee is responsible for accepting the Gaming Platform and for issuing the associated payment
for its use.

 

The Provider is recognized as
the Gaming Platform owner;

 

The Licensee
is a company that offers e-gaming events and has sought the Provider’s approval for use of its Gaming Platform by the Licensee;

 

The Licensee
has sought the services of the Provider in delivering support for use of the Gaming Platform by the Licensee and the Provider has
agreed to deliver such Gaming Platform support services as agreed upon according to the present Agreement;

 

The Provider
hereby agrees not to License the Gaming Platform to any other Licensee for use connected with virtual gaming wagering for a period
of two years from the start date of the present Agreement. The term “virtual gaming wagering” in this case refers to
the activities connected with placing bets on events, which involve the act of playing various video games on PCs, all sorts of
video game consoles and mobile devices.

 

The Parties hereby agree on
the following Terms and Conditions of cooperation:

 

1. Granting of Gaming Platform License

 

The Provider
hereby hands over the Gaming Platform to the Licensee in accordance with Appendix A of the present Agreement and grants a restricted
License to its use.

 

The Licensee
undertakes to use the Gaming Platform for processing its own data and for offering internet gaming events to its clients, also
activities and related services only.

 

The Gaming
Platform use is restricted to implementation on and in conjunction with the present Agreement.

 

    1

     

    

 

The
Licensee is limited to the Gaming Platform as described in Appendix A and B,
with its current components and in its current version. It shall not be deemed to extend or include any program or material
belonging to the Provider other than the Gaming Platform.

 

2. Support Services

 

2.1 The Provider
hereby undertakes to provide the Licensee, who accepts, with such Gaming Platform Support Services as described in Appendix D attached
to this Agreement.

 

2.2 To this end,
the Provider undertakes to make available professional employees or to contract professional persons to efficiently provide the
afore-mentioned Support Services throughout the duration of this Agreement.

 

2.3 The Licensee
hereby undertakes to serve a notice to the Provider of any request for Gaming Platform Support Services providing therein a description
of the Gaming Platform difficulties encountered and the issues that are expected to be addressed by the Provider in providing Support
Services therefore.

 

2.4. All Support
Services will be classified in either of the following four severity levels, based on the respective definitions hereunder agreed
upon. The response time for each severity level is defined as follows:

 

	Severity	Definition	Response time
	Critical	The
    request has a critical business impact on hour the licensee’s live environment resulting in the inability to use the
    software.	Less than 2 business
	High	The request has severe business impact, limiting the usage of one or more major functions of the software in the licensee’s live environment. The live environment is stilt operational, but restricted.	
        Less than 8 business hours

         

	Medium	The software still functions in the licensee’shours business environment, but there are functional limitations that are not

critical in the daily operation.	Less than 16 business
	Low	Minor infractions including documentation or cosmetic error.	
        Less than 40 business hours

         

 

    2

     

    

 

The
Licensee is to assign the severity level to a request for support based on the definitions shown below and must clearly indicate
the severity level assigned in the Support Services request sent to Provider. The Support Services request must also clearly state
the reasons for the severity level assigned and the nature of the issue. The Licensee may also set a priority based on the urgency
and impact on their business environment. The Provider will review the severity level assigned to the request and allocate the
appropriate resources to resolve it. The Provider will use commercially reasonable efforts to resolve and correct the reported
cases. If the Provider determines that a request results from a problem within the product that can be temporarily circumvented,
the severity level will be re-evaluated to determine the appropriate course of action.

 

3.
Term of the License

 

a)
Effective duration period of Gaming Platform License is not limited.

 

b)
Termination shall become effective upon the expiration of the original or extended period during which notice of termination is
duly served upon the other Party. In this manner, fees and any money due in terms of this Agreement shall continue to be due for
the full term of the Agreement, during which such notice is given.

 

c)
Any renewal or extension of the Term for the License given in this Agreement is only validly contracted if done in writing.

 

d)
Any negotiations for renewal or extension of the License and any such renewal or extension of the License are without prejudice
to the rights of either Party to terminate this Agreement as stipulated in Article No
16.

 

Services
from Third Party

 

The
Licensee holds the Provider free and harmless
from any liability that may arise from action taken pursuant to services obtained from third parties.

 

4.
Fees Payable under the Agreement

 

Gaming
Platform Set-Up and Development Fees

 

As
agreed by the Parties, the cost of Gaming Platform set-up and customization shall amount to € 20 000 Euro.

 

The
Parties have also hereby agreed to introduce a number of additional developments and customizations into Gaming Platform dealt
with in the present Agreement. The entire price list for Gaming Platform implementation, additional development and customizations
payable under the present Agreement is given in Appendix B.

 

Any
extra developments required by the Licensee apart from the ones included into Appendices A and B of the present Agreement and
their pricing shall be negotiated separately by the Parties. If necessary, any such extra developments can be incorporated into
the present Agreement by way of supplementary agreements or amendments duly negotiated and signed by the Parties thereto.

 

Support
Services Fee

 

The
Licensee undertakes to compensate to the Provider the fees for the Support Services applicable for the delivered Gaming Platform
and all additional developments and customizations provided by the present Agreement. All support fees shall be based on particular
percentages of the Licensee’s monthly total revenue, with minimum and maximum limitations. The detailed price breakdown for support
fees payable under the present Agreement is contained in Appendix B.

 

    3

     

    

 

Support
Services Fees are due according to time sheets for services provided agreed to in Appendix C attached to this Agreement and
fall due upon receipt of a payment request by the Licensee from the Provider. The fees agreed to in this article are
exclusive of any applicable Value Added Tax or other tax that is payable in terms of law.

 

5. Delivery and Installation

 

Delivery shall
be deemed to have taken place when the Gaming Platform has been installed on the Equipment provided by the Provider. The Provider
is to indicate the Equipment to the Licensee by specifying its location and type. Upon receipt of this notice the Provider undertakes
to deliver the Gaming Platform to the Licensee and to install it on the Equipment in question. Installation shall be deemed to
have taken place when the Gaming Platform is available for use on the Equipment by the Licensee and independently of whether the
Licensee can run all desired applications on it. The required Equipment configuration is contained and described in Appendix C
of the present Agreement.

 

6. Acceptance Procedures

 

After the installation
of the Gaming Platform, the Provider is to supply to the Licensee results derived from the process of such test data which in the
reasonable opinion of the Parties is suitable to test whether the Gaming Platform is in accordance with the applicable technical
requirements.

 

The Licensee shall
accept the Gaming Platform immediately after the Provider has demonstrated that the Gaming Platform has correctly processed the
test data by achieving the expected results.

 

Should the results
of the test data show that the Gaming Platform does not fulfill any specification, then in this case the Provider is obliged to
correct such errors at his earliest convenience upon receipt of notice from the Licensee that such error is unacceptable. Tests
as stipulated in the preceding paragraphs of this Article are to be re-taken.

 

Notwithstanding
the above, where the Gaming Platform becomes operational, then installation is deemed to be completed and accepted.

 

7. Copying

 

The Licensee is
prohibited from making copies of the Gaming Platform, whether in part or in whole and for any reason whatsoever.

 

Provided that
where the Licensee has shown to the Provider that copies of the Gaming Platform are required by the gaming licensing authority
from whom the Licensee seeks or holds a license, then the Provider shall not refuse to give its consent. Any such consent given
is restricted to the presentation of a copy of the Gaming Platform to the relative gaming licensing authority and does not include
a warranty by the Provider that the Gaming Platform is acceptable to that authority.

 

Provided further
that the Provider undertakes to provide the Licensee with such information that may be reasonably required by the respective gaming
licensing authority and that is related to the Gaming Platform.

 

    4

     

    

 

8. Alteration Procedures

 

8.1 All the
modifications to the Gaming Platform can be done only by Provider, either upon its own initiative and for whatever reason, or
upon a reasonable request from the Licensee.

 

8.2 The Licensee is prohibited from
translating, adapting, varying, modifying, disassembling, decompiling or reverse engineering of the Software, its components,
applications or derivatives.

 

9. Limitations

 

The Licensee undertakes
not to, and shall ensure that its employees do not, use the Gaming Platform, or any part thereof:

 

	 	a)	to take or to facilitate the taking of any real money wager from any platform user who, at the time of making the wager, is located within the United States of America, Switzerland (unless the Licensee has been previously awarded any specific gaming license allowing to accept bets on sports and active throughout the European Union and other required locations), or

 

		b)	in any way which is prohibited by any applicable gaming
regulator. 

 

10. Rights of
Property

 

Without prejudice
to the License of use granted to the Licensee under this Agreement, the Parties declare and agree that the Provider remains the
sole and exclusive owner of the Gaming Platform and of the Intellectual Property Rights thereover.

 

The Licensee undertakes
to notify the Provider immediately upon the Licensee becoming aware of any unauthorized use of the whole or any part of the Gaming
Platform.

 

Should the Licensee
decide to terminate the relations under the present Agreement, he is entitled to obtain and, if necessary, to disclose to third
party the following data and software elements:

 

	 	a)	Software graphic designs (smarty templates and CSS)

 

	 	b)	Mobile optimized software version (HTML 5)

 

	 	c)	Other specific additional developments ordered by the Licensee in line with the present Agreement

 

	 	d)	All the player’s data (names, contacts, balances and balance movements)

 

	 	e)	The entire player’s betting history

 

Transfer of any
other data and components shall be negotiated separately by the Parties to the present Agreement.

 

11. Intellectual Property Rights

 

11.1 The Parties
agree that the Provider, being the exclusive owner and developer of the Gaming Platform, retains full intellectual property rights
over it.

 

11.2 Without prejudice
to this, should any claim be brought against the Licensee by any third party alleging that the Gaming Platform or use thereof infringes
the Intellectual Property Rights of a third party, the Licensee is to promptly notify the Provider of receipt of this claim. Where
notice of such a claim is given to the Provider, the latter shall defend at its own expense any such claim brought against the Licensee
provided that the Licensee is to ensure reasonable assistance in respect of the claim.

 

    5

     

    

 

11.3 If, in the
Provider's reasonable opinion, the use of the Gaming Platform is or may become the subject of a claim related to Intellectual
Property Rights therein then the Provider may replace or modify the Gaming Platform in such a manner as to ensure that they become
non-infringing. Such modification does not require the consent or approval of the Licensee, unless such modification would render
the Gaming Platform non-compliant with the applicable technical requirements.

 

12. Warranties

 

12.1
The Provider warrants that the Gaming Platform is compliant with the specifications indicated in Appendix A attached to this Agreement.

 

If the Provider
receives written notice from the Licensee after acceptance of any breach of the said warranty, then the Provider shall at its own
expense remedy the defect or error in question at his earliest convenience.

 

The Provider undertakes
to provide the Support Services diligently through employees or agents who are deemed by it to have the required experience.

 

The said warranties
above shall be subject to the Licensee complying with its obligations under the terms of this Agreement.

 

12.2 To the extent permitted at law, the Provider:

 

a. Disclaims
all other warranties with respect to the Gaming Platform, either express or implied, including but not limited to any implied warranties
relating to quality, fitness for any particular purpose or ability to achieve a particular result;

 

b. Makes
no warranty that the Gaming Platform is error free or that its use will be uninterrupted and the Licensee acknowledges and agrees
that the existence of such errors shall not constitute a breach of this Agreement.

 

In the performance
of the obligations undertaken in this Agreement, both Parties undertake to collaborate between themselves with the purpose of ensuring
the efficient performance of their respective obligations.

 

13. Confidential Information

 

13.1
Each Party undertakes to the other that it will treat as confidential, and will use its reasonable endeavors to procure that its
directors, employees, professional advisers and agents will treat as confidential, the terms and conditions of this Agreement
as well as product architecture, data structures, algorithms and/or general information of technical or business nature or otherwise
relating to the business or affairs of the other Party which it may receive in connection with this Agreement, and will not (and
will use its reasonable endeavors to procure that its directors, employees, professional advisers and agents will not) disclose
or use such information other than strictly for the purposes of this Agreement except with the written permission of the other
Party.

 

13.2 Each Party
to this Agreement shall promptly notify the other Party if it becomes aware of any breach of confidence by any person to whom it
divulges all or any part of the Information and shall give the other Party all reasonable assistance in connection with any proceedings
which the other Party may institute against such person for breach of confidence.

 

13.3 The foregoing
obligations as to confidentiality shall remain in full force and effect notwithstanding any termination of the License or this
Agreement.

 

    6

     

    

 

14. Termination

 

14.1 The Licensee
may terminate the License at any time by giving at least1  (one) month prior written notice to the Provider.

 

The Provider may
terminate the License forthwith on giving notice in writing to the Licensee, if:

 

a. The
Licensee commits any serious breach of any term of this Agreement and if in the case of a breach capable of being remedied shall
have failed, the Provider shall remedy the breach at his earliest convenience. Whether a breach is capable of being remedied or
not is within the discretion of the Provider. Where the Provider considers a breach as one capable of being remedied and sends
a request in this regard to the Licensee, such notice must contain a warning of the Provider’s intention to terminate should the
breach not be remedied. Or

 

b. The Licensee
permanently discontinues the use of the Gaming Platform.

 

Forthwith upon
the termination of the License, the Licensee shall return to the Provider the Gaming Platform materials and all copies of the
whole or any part thereof, its derivatives, components and applications from the hardware and any magnetic media on which
they are stored and certify in writing to the Provider that they have been destroyed.

 

The Licensee may extract and store any
Licensee player data only upon a separate media for continuity purposes.

 

14.2 The Provider
reserves the right to terminate the Agreement if Licensee delays in the payments stipulated in p. 4.1 exceeds 1 month, by giving
at least one (1) month prior written notice to the Licensee.

 

14.3 Any termination
of the License or this Agreement (howsoever occasioned) shall not affect any accrued rights or liabilities of either party nor
shall it affect the coming into force or the continuance in force of any provision in this Agreement which is expressly or by implication
intended to come into or continue in force on or after such termination.

 

15. Data Protection

 

The Parties undertake
to comply with the provisions of the relevant data protection legislation applicable to both of the Parties and to any related
or subsidiary legislation in so far as the same relates to the provisions and obligations of this Agreement.

 

16. Assignment

 

The Licensee is
expressly prohibited from transferring, assigning or in any manner giving to third parties any rights, licenses, or obligations
which it has undertaken in this Agreement. Any of the afore-mentioned actions might be possible only upon prior written approval
from the Provider.

 

Any assignment
or transfer of whatsoever nature made by the Licensee in violation of this whole Article will be null, void and without effect.

 

17. Force Majeure

 

17.1.
Notwithstanding any provisions of this Agreement, neither Party shall be liable for its inability in performing any of its obligations
hereunder (other than an obligation to make payment) if such inability is caused by or arises as a result of circumstances beyond
the reasonable control of the relevant Party including, without limitation, inability or delay caused through acts of God, fire,
flood, riot, war, industrial dispute of any kind (other than disputes involving that Party’s own employees or the employees
of an associated company to that Party), lightning, explosion, civil commotion, malicious damage, storm, tempest, act of government
or other regulatory authority, acts or omissions of persons or bodies for whom the Party affected thereby is not responsible,
and any other circumstances beyond the reasonable control of the relevant Party.

  

    7

     

    

 

17.2. If any one
of the events mentioned above impact Parties’ abilities to fulfill obligations defined by this Agreement within its duration period,
the software delivery timing and/or period of warrantee will be extended by the period of the event(s).

 

17.3.
If either Party is unable to perform duties defined by the Agreement, it should inform the other Party within three business
days in a written form as to commencement, duration and conclusion of the above-mentioned circumstances.

 

17.4.
If either Party fails to issue the notice or delays its issuance beyond the timeframe defined in P.5.3, it loses the right
to utilize any of the circumstances/events listed in P.5.1 as the justification for freeing itself from the responsibilities assumed
within the context of the Agreement.

 

18. Notices

 

With the exception
of Purchase Orders, acknowledgements, invoices, payments, and other usual and routine communications, all other notices or writings
required or permitted under this Agreement, including but not limited to notices of default or breach, shall be signed by an authorized
representative of the sender, sent to the respective individuals identified below (which may be changed by written notice to the
other), and shall be deemed to have been received (a) when hand delivered to such individuals by a representative of the sender,
or (b) three (3) days after having been sent postage prepaid, by registered or certified first class mail, return receipt requested,
or (c) when sent by electronic transmission, with written confirmation by the method of transmission, or (d) one (1) day after
deposit with an overnight carrier, with written verification of delivery.

 

19. Appendices

 

The provisions
included in Appendices A, B, C, D attached to this Agreement shall be deemed to form an inherent part of this Agreement and are
to be read in conjunction with this Agreement and are binding upon the Parties.

 

21. Severance

 

If any provision
of this Agreement is prohibited by law or declared by a court to be unlawful, void, null or unenforceable, the provision shall,
to the extent required, be severed from this Agreement and rendered ineffective as far as possible without modifying the remaining
provisions of this Agreement. This shall however have no effect on the other provisions of this Agreement which shall remain firm
and valid between the Parties.

 

23. Proper
Law and Jurisdiction

 

21.1 The law of
Switzerland shall govern this Agreement and the Parties shall first of all seek to resolve any disputes that may arise in relation
to this Agreement amicably and in good faith. If this does not succeed the dispute shall be resolved by the matter being put before
a person who has experience in the field of intellectual property rights and who is appointed by the Parties jointly to act as arbitrator in the matter.
Should the Parties fail to agree on a joint nomination of one person then such dispute shall be referred to the appropriate legal
institution acting under the jurisdiction of Switzerland.

 

On condition that
the Provider retains the right to sue for the recovery of fees due to it in terms of this Agreement in any jurisdiction in which
the Licensee is operating or has assets.

 

    8

     

    

 

Provided that
the Provider retains the rights to sue for breach of its intellectual property rights and other proprietary information, whether
related with this Agreement or otherwise, in any jurisdiction where it has reason to believe that an infringement or breach of
this Agreement in relation to its Intellectual Property Rights might be taking place.

 

21.2 The Licensee
recognizes that a breach or a threatened breach of the Provider’s Intellectual Property Rights will cause the Provider irreparable
damage and consequently that in this event the Provider is entitled to injunctive and other measures that prevent the threatened
breach or stop the breach of its Intellectual Property Rights.

 

22. Relevant Law and Jurisdiction

 

Both Parties undertake
to comply with all applicable laws, rules and regulations in respect of all activities conducted under this Agreement.

 

23. Amendments

 

This Agreement
may not be amended, varied or modified in any manner except by an agreement in writing signed by a duly authorized officer or representative
of each of the corresponding Parties.

 

24. Entire Agreement

 

This Agreement
supersedes all prior agreements, arrangements and undertakings between the Parties and constitutes the entire scope of agreements
between the Parties relating to the subject-matter of this Agreement. However the obligations of the Parties under any pre-existing
non-disclosure agreement shall remain in full force and effect in so far as there is no conflict between the same.

 

25. Counterparts

 

This Agreement
may be executed in any number of counterparts or duplicates, each of which shall be an original, and such counterparts or duplicates
shall together constitute one and the same agreement.

 

    9

     

    

 

Signatures
of the Parties

 

	
        The Licensee

         

        DK SinoPharma, Inc. DBA VGambling, with offices
        located at Suite No. 4, Weathered Bldg. Redcliffe Street St. Johns, Antigua & Barbuda
	
        The Provider

         

        Swiss
        Interactive Software GmbH, Switzerland registered company, with offices located at Avenue Beauregard 12, CH-1701 Fribourg,
        Switzerland

	 	 
	Mr.
    Grant Johnson 	Mr. Yan Rozum

 

    10

     

    

 

 

Appendix A

 

Related
to Software Delivery Agreement SwisslS No: 12-06-14

 

Features
to be delivered in terms of the Agreement

 

To
deliver a fully-featured Betting Sportsbook powered with:

 

		1)	Wagers:
                                         Spread, Asian Handicap, Goals by Team, Match Odds, Odd / Even, Most goals in which
                                         half, Double Chance, Correct Score, Halftime / Fulltime, Over / Under, Totals Goals and
                                         Outright

 

		●	Create
                                         custom wager labels on the fly (such as “Who will score the most” based on
                                         “Goals by Team”)

 

		●	Unlimited
                                         number of props, futures, and match-ups in all sports

 

		●	Multiple
                                         line-sets

 

		2)	Multi
                                         -currency and -language support

 

		●	Supports
                                         all currencies and languages

 

		●	Live
                                         update of exchange rates

 

		●	Built-in
                                         language editor

 

		3)	Odds

 

		●	American,
                                         Decimal, Malay odds formats

 

		4)	Grading
                                         and Roll-back

 

		●	Automatic,
                                         manual and forced event grading

 

		●	Custom
                                         grading and funds distribution routines for all wager types and options

 

		●	Rollback
                                         events and re-announce winners

 

		●	Alarms
                                         on unsettled and finished events

 

		5)	Password
                                         Security

 

		●	Define
                                         password expiration interval for operator and player accounts

 

		●	Password
                                         and username strength detection

 

		●	Restrict
                                         use of same password after expiration

 

		6)	Other

 

		●	Player
                                         profiling

 

		●	Operator
                                         accounts with access rights

 

		●	Directory
                                         of all leagues, teams and players

‘

		●	Odds
                                         management

‘

		●	Messaging

‘

		●	Alarms
                                         and notifications

 

		●	AJAX powered interface

 

    11

     

    

 

		7)	Control
                                         Panel

 

		(i)	Events
Management

 

		●	Manage
sports and leagues

 

		●	Manage
regular events and odds

 

		●	Manage
exposure

 

		●	Manage
live events

 

		●	Start
and manage repeated events

 

		●	View
alarms and manage ungraded events

 

		●	Rollback
previously graded events

 

		●	View
exposure

 

		(ii)	Statistics

 

		●	View
overall daily win/loss report

 

		●	View
player balances by currency

 

		●	Multiple
win/loss reports by:

 

		○	Market

 

		○	Wager
type

 

		○	Country

 

		○	Players

 

		●	View
import logs

 

		(iii)	Player
Profiling

 

		●	Search
and manage player accounts

 

		●	Define
multiple risk limits

 

		●	Manage
balance and view transaction history

 

		(iv)	Betting
History

 

		●	Search
and manage players bets

 

		●	Search
and manage over-limit/high bets

 

		●	Real-time
betting monitor

 

		(v)	Platform
setup

 

		●	Define
settings and options

 

		●	Manage
custom wager types

 

		●	Manage
currencies

 

		●	Manage
languages

 

		(vi)	Administration

 

		●	Search
and manage operator accounts

 

		●	Define
access rights

 

		●	Define
exposure limits

 

    12

     

    

 

		(vii)	System
                                         logs

 

		●	View
                                         login history

 

		●	View
                                         action log

 

		(viii)	Transactions

 

		●	Search
                                         and view player transactions

 

		●	Manage
                                         deposit/withdrawal requests

 

		(ix)	Messaging

 

		●	Send
                                         mass mail to users

 

		8)	Player
                                         Area

 

		(x)	Interface

 

		●	AJAX
                                         powered - player always remains on the same page

 

		●	Odds
                                         format controls

 

		●	Language
                                         selector

 

		●	Live
                                         balance update

 

		●	Instant
                                         events menu

 

		●	Search
                                         form to find events by keyword

 

		●	Instant
                                         background and manual odds refresh

 

		●	Notification
                                         on event status changes

 

		●	Sign-up
                                         and password restore forms with field checks

 

		(xi)	Profile
                                         Management

 

		●	View
                                         overall account information

 

		●	View
                                         and update personal information

 

		●	Manage
                                         time-zone information

 

		●	Limit
                                         total deposits and manage self-exclusion status

 

		●	Search
                                         and view deposit/withdrawal transactions

 

		●	Search
                                         and view betting history

 

		●	View
                                         service messages and notifications

 

		●	Deposit
                                         funds

 

		●	Submit
                                         a withdrawal request

 

		●	View
                                         login history

 

		(xii)	Betting
                                         Slip

 

		●	Straight
                                         betting

 

		●	Instant
                                         profit calculation

 

		●	Instant
                                         alarms on incorrect input

 

		●	Balance
                                         and limit checks

 

    13

     

    

 

		9)	Risk
                                         Management

 

Overview
of player limits:

 

		●	Minimum
                                         / maximum amount per bet

 

		●	Minimum
                                         / maximum amount per event

 

		●	Maximum
                                         winning amount per bet

 

		●	Maximum
                                         total potential winning amount

 

		●	Betsafe
                                         limit %

 

		●	Option
                                         to overwrite event limits

 

Event
limits:

 

		●	Minimum
                                         / maximum amount per bet

 

		●	Budget
                                         (total amount) to suspend

 

		10)	Server
                                         configuration and maintenance

		11)	Open
                                         interfaces

		12)	CMS

		13)	Payment
                                         processor (3 plug-ins)

 

Custom
Features:

 

		1)	Gaming
                                         Platform Customizations

		2)	Pool
                                         Betting Functionality

		3)	New
                                         Custom Graphic Design

 

    14

     

    

 

Appendix
B

 

Fees Payable under the present Agreement

 

Gaming Platform Set-Up and Development
Fees

 

	NR	Type of payment	Price, Euro (€)
	1	Gaming Platform Set-Up and Customization Fee 

(Desktop Version)	
	2	Pool Betting Functionality Development	
	3	Graphic Design and Integration	 

 

Payment Scheme for Gaming Platform Support
and Maintenance

 

Minimum Fee — €

 

Maximum Fee - € 

 

Fees based on revenue:

 

 

 

 

 

 

 

 

 

    15

     

    

 

Appendix C

 

Hardware and Software requirements

 

Hardware Requirements

 

8 core 2GHz+CPU

32GB+ RAM

2x250+GB SAS hard drives

 

Software Requirements

 

- PHP v 5.4

- MySQL v.5.5
(preferable PERCONA database server 5.5-5.6)

 

- Redis
(cache layer)

- Mod Rewrite

- Ioncube
Loader for PHP 5.4.

- FTP, Cpanel, SSH-root (preferable)

 

    16

     

    

 

Appendix D

 

Support Services schedule

 

1. Definitions

 

Technical Support
— range of services providing assistance
with technical aspects of Gaming Platform: help the Licensee to solve specific problems with product or its IT environment.

 

Disaster Recovery —
process of restoring IT business continuity.

 

Critical Error —
error in the Gaming Platform threatening business continuity of Licensee.

 

2. Scope

 

Technical support
includes answering technical- and usage-related questions from Licensee, upgrades of Gaming Platform, maintenance operations and
fix of all reported and confirmed errors.

 

Disaster recovery
includes complex help for Licensee during process to recovery. This includes: re-installation of web, application and database
servers, data recovery and data consistency recovery.

 

3. Error
reporting

 

All issues should be reported
to the e-mail: support@bettings.ch with
detailed description of the issue. Critical Errors could be reported by Skype: ‘bettings.support’.

 

4. Working
times

 

Technical Support
in standard mode is operating Mon-Fri 8-16 CET excluding public holidays in Switzerland. Incidents and errors not blocking and
not interrupting normal service are dealt Mon-Fri from 8.00 to 16.00 CET (excluding public holidays). In case of critical level
errors reported by calling +41 44 5865621 action is taken within 30 minutes from report time, 24/7.

 

 

17

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