Sporttrade – Bookielink

October 24, 2024

Sporttrade goes live in Virginia

Wagering platform Sporttrade, one of a handful of independently owned small digital sports betting sites, launched in its second state in two months on Thursday (24 October).

Sporttrade went live in Virginia this morning, marking the fifth state in which it is available. The platform launched in Arizona in September and is also live in Colorado, Iowa and New Jersey. Its first launch was in New Jersey in 2022.

The platform is the 16th available to bettors in Virginia where digital sports betting went live in January 2021.

Headquartered in Philadelphia, Sporttrade refers to itself as a “differentiated experience”. The platform offers traditional sports betting and, in some states, exchange wagering. Where that model is available, bettors can buy and sell bets throughout a game, as a trader would when buying and selling stocks.

Founder Alex Kane has shepherded his company through myriad changes since the first launch in New Jersey. He ultimately opted to offer a more traditional e..

September 10, 2024

How Sporttrade is like… pizza dough

It would be fair to say that Sporttrade, in its current incarnation, isn't exactly what founder Alex Kane envisioned. But it would also be fair to say that he's still growing his business and having a good time doing it.
“I am still excited because I do still have this long-term vision of wanting to create something different,” Kane told iGB. “I love listening to players and learning from them.”

When Sporttrade made its debut in New Jersey in 2022, it became the first company in the US to offer a different experience known as exchange wagering. Bettors can buy and sell bets throughout a game for an experience that more resembles stock trading than traditional sports betting.

The Sporttrade odds format was “implied probability” where, instead of seeing “+300”, players would see “25%”. With implied probability players can, for example, “buy at 25%”, then have the ability to “sell at 60%” if the bet started to look more likely.

Sporttrade went on to add a “limit order”. This..

August 2, 2024

Sporttrade, Plannatech awarded Arizona event wagering licences

On Friday (2 August) the Arizona Department of Gaming (ADoG) awarded two tribal-tethered event wagering licences. Sporttrade, currently live in Iowa, New Jersey and Colorado, and UK-based Plannatech are now approved to offer digital betting.
Both companies will be tethered to tribes. Sporttrade will partner with the Quechan Indian tribe of the Fort Yuma Indian reservation and Plannatech will partner with San Carlos Apache Tribal Gaming Enterprise.

The Quechan tribe was formerly partnered with Unibet, which exited the state earlier this year. The San Carlos Apache were partnered with WynnBet, which is unwinding its platform across the country.

Sporttrade offers exchange wagering in New Jersey and has technology that allows an experience similar to playing the stock market. But the company has struggled to convince other regulators to allow this type of betting. It is live in Colorado and Iowa as a traditional sportsbook.

It is not apparent that Arizona allows exchange wagering.
..

August 30, 2023

Sporttrade now live in Colorado

Sports betting exchange Sporttrade is now live in its second state after launching in Colorado.

The Philadelphia-based operator enters the Colorado market with strategic partner GF Gaming. The pair said Coloradans will benefit from Sporttrade’s unique structure within the sports betting market.

In particular, it highlighted its capital markets-like approach centred around its use of market makers to provide liquidity to the exchange. Low liquidity in ring-fenced US jurisdictions have been a long-standing problem for betting exchanges.

The Colorado launch comes after Sporttrade entered New Jersey as its first sports trading platform in September 2022.

“Today we’re privileged to introduce the Sporttrade experience in Colorado,” said Alex Kane, Sporttrade’s founder and chief executive.

“Our launch today proves that Sporttrade can operate in any jurisdiction, with the same great features our customers have come to know us for; instant in-play betting, great prices, awesome liquidit..

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Tag: Sporttrade