Sporttrade has made online sports betting news by gaining access to the markets of Louisiana and Indiana, courtesy of corresponding partnerships with Penn National Gaming and Caesars. Sporttrade expects to activate in these markets in 2023, after first going live in the states of New Jersey and Colorado over the course of 2022.
Sportsbook of the Month: Betway
Sporttrade is a Philadelphia-based sports betting and trading company that facilitates online sports betting with an unusual twist. They provide customers with a stock-exchange-themed sports betting platform. What sets it apart from its competitors is how it allows bettors to compete amongst themselves, courtesy of an exchange that mimics a stock exchange. Bets are placed on Sporttrade’s exchange which can, in turn, be accepted by other bettors. Practically, this means bettors can shop for odds without being limited by bookmakers and enjoy lower transaction costs. Sporttrade also offers several other features and financial flexibilities its sportsbook competitors do not.
The current legislation in Louisiana and Indiana requires online gambling operators to form partnerships with brick-and-mortar casinos to access the market. Sporttrade CEO Alex Kane has decided on these partnerships with a focus on collaboration. In particular, Sporttrade may activate potential big spenders within the market – customers that often elude traditional sportsbooks. In exchange for providing market access, companies such as Penn National Gaming and Caesars receive a portion of these elusive revenue streams through these agreements. It comes as no surprise that these industry giants have collaborated with a business that can attract wealthy clients in, potentially, an exceptionally lucrative way. However, Sporttrade isn’t resting on their laurels either; they’re looking for the right time and opportunity to move into even more markets, such as New York.
Only time will tell if Sporttrade is as successful as they and their partners might hope, but from what we can see, they’re poised for some serious success!