Latest News
Sharp Alpha Advisors Raises $10M to Invest in Sports Betting Startups
Sharp Alpha Advisors announced on Tuesday the final closing of Sharp Alpha Fund I, an oversubscribed $10 million venture capital fund investing in early stage sports betting technology companies.
Based in New York City, the fund has already deployed capital into 11 startups, including Players’ Lounge, GridRival, PickUp, and Prophet.
The fund targets initial allocations averaging $250,000 in Seed and Series A financings, with plans to provide follow-on support in subsequent rounds. Sharp Alpha also maintains a co-investment vehicle that enables limited partners to invest additional capital in select deals alongside the fund. Through the use of this vehicle, the firm has made initial allocations in excess of $1 million.
According to Lloyd Danzig, the firm’s Managing Partner, the sports betting industry is ripe for early stage investment. “Not only is the sports betting industry at an inflection point, but market leaders are choosing to buy rather than build at every turn. With M&A serving as the primary mechanism through which operators achieve differentiation and vertical integration, it is a great time to underwrite next-gen infrastructure,” Danzig said.
Sharp Alpha’s advisory board includes Keith Horn, who was previously the COO of Elliott Management and Global Head of Leveraged Finance at Merrill Lynch; Emanuel Pearlman, the former Chairman of Empire Resorts and board member at several public companies; Adam Davis, the former Chief Commercial Officer at Harris Blitzer Sports and Entertainment and Chief Revenue Officer of the New Jersey Devils; Daniel Bernard, a Venture Partner at Mindspring Capital and Chairman of Redwood International Sports; Roy Behren, the President and Chief Investment Officer of a $5.2 billion asset manager specializing in merger arbitrage and former enforcement attorney for the SEC; and Don Kornstein, the Vice Chairman of Caesars Entertainment and former executive at numerous successful gaming companies.
Compliance Updates
WA.Technology receives accreditation to enter Peru’s gaming market
WA.Technology, the award-winning B2B solutions provider, is excited to announce its entry into the rapidly expanding Peruvian gaming market after receiving the necessary certifications from the country’s gambling regulator, Ministerio de Comercio Exterior y Turismo (MINCETUR).
Already recognised as the most sought-after B2B solutions provider for LatAm, the award-winning provider is now bringing its iGaming expertise to operators across Peru, having already partnered with the majority of the continent’s biggest brands.
In total, WA.Technology offers its LatAm partners a full spectrum of iGaming solutions via its WA.Platform, WA.Sports, WA.Casino, WA.Fantasy, WA.Affiliates and WA.Lottery verticals.
With WA.Technology boasting multiple regional offices across the continent, the provider has now stated a firm commitment to ensuring that its Peru operator partners will be given the best of its technology to gain local market share.
These include its latest lottery platform, with players able to access more than 70 of the world’s biggest lottery formats, Highly popular Lottery games from the USA will also be available, such as Powerball and Megamillions, reaching in excess of $1bn.
In addition, local operators will be able to harness WA.Technology’s latest Fantasy Sports and its US-inspired Pick’Em Play Props offering, which is being rolled out imminently to big-name operators across the continent.
Designed for players to unleash their sporting expertise across Daily Fantasy Sports and Free-to-Play predictor games, both represent a tried and tested acquisition tool for LatAm operators to boost engagement, retention and cross-selling opportunities.
Local partners will also be able to access WA.Technology’s latest WA.Affiliates vertical, designed to transform LatAm operators’ player-focused marketing and customer acquisition strategies.
Featuring affiliate tracking features, performance tracking software, and the option to introduce gamification, WA.Affiliates represents an unparalleled acquisition tool for operators to reach new audiences and drive traffic back to casinos and sportsbooks.
Commenting on the company’s launch in Peru, Axel Antillon, Regional Director LatAm at WA.Technology, said: “Peru represents a significant opportunity for WA.Technology; we are very excited to be embarking on this new journey! The country’s growing appetite for gaming and entertainment-led experiences aligns perfectly with our mission to deliver LatAm’s best gaming products.
“By entering the Peruvian market, we’re able to support local operators in enhancing their player experience, improving operational efficiency, and ultimately, growing their business. We look forward to becoming a trusted partner to the region’s operators as we establish a long-term presence here.”
Since regulations were introduced in October 2023, Peru has been pinpointed as one of LatAm’s major growth markets by industry experts.
Reports project the market to grow at a compound annual growth rate (CAGR) of 9% between 2023 and 2031, largely driven by increased digital adoption and growing demand for online entertainment.
MINCETUR, Peru’s regulator, estimates that approximately Sol3.8 billion (€1bn) in bets was placed in 2022, with online gaming and sports betting estimated to produce Sol162m (€40.6m) a year in taxes for the state.
Latest News
SOFTSWISS Joins Pink October Movement
SOFTSWISS, a global tech company with over 15 years of expertise in iGaming, supports the global Pink October initiative to attract attention to preventing breast cancer.
This year’s Pink October campaign at SOFTSWISS is themed “A Minute Today, a Future Ahead” and emphasises the importance of early detection and preventative care. Breast cancer is the most common cancer affecting women, and early diagnosis is key in the fight against the disease. When it is noticed early, the 5-year relative survival rate is 99%.
Early detection involves doing monthly breast self-exams and planning regular clinical breast exams and mammograms. Half of the 2,000 SOFTSWISS employees are women, and the company will refund each of them for ultrasounds and mammograms in October and November.
Pink October at SOFTSWISS offers a wide range of activities throughout the month. In addition to reimbursing for medical examinations, an online webinar on mental health will provide valuable insights for those who face the disease. To support the international charity movement “Butterfly Support Mission”, women from SOFTSWISS will take part in a themed race.
The company’s employees also personally support the initiative. To further raise awareness, prominent female influencers from the SOFTSWISS community share information about the campaign across social media, amplifying the message of self-care and vigilance.
“Health is a crucial value beyond everything. Here, at SOFTSWISS, we aim to help and support our employees’ well-being and health every day. By promoting the Pink October initiative, we want to stress the importance of well-timed self-care and make this issue visible both within the iGaming industry and beyond,” shares Chief Marketing Officer at SOFTSWISS, Valentina Bagniya.
Notably, the iGaming industry recognised SOFTSWISS’ strong dedication to ensuring the best working conditions for its employees. A few weeks ago, SOFTSWISS received the esteemed accolade “Employer of the Year” at the SBC Awards.
Supporting the Pink October initiative for the second year in a row, SOFTSWISS continues to lead by example, emphasising the importance of preventive health measures and community support. Through this initiative, the company hopes to inspire its employees and society to take action today for a healthier tomorrow.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
Latest News
Kambi Group plc signs first major odds feed partnership with leading US operator Hard Rock Digital
Operator’s Hard Rock Bet brand to leverage Kambi’s new Odds Feed+ product, marking a significant milestone in Kambi’s modularisation strategy
Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has entered into a landmark agreement with Hard Rock Digital, one of the leading sports betting operators in the US, to deliver its new cutting-edge Odds Feed+ solution to the operator’s multi-state Hard Rock Bet brand which is available in eight US states including Arizona, Florida, Illinois, Indiana, New Jersey, Ohio, Tennessee, and Virginia.
The partnership will see Kambi provide Hard Rock Bet with its comprehensive suite of odds across both pre-match and live betting, with odds uniquely benefitting from the power of Kambi’s leading turnkey sportsbook, as well as Kambi’s AI trading division Tzeract. Hard Rock Bet is expected to launch with Kambi’s Odds Feed+ in Q4 2024.
Kambi’s full library of odds are delivered through a single API integration, giving operators the ability to create their own bespoke Odds Feed+ package, with the freedom to revise on demand. Hard Rock Bet will initially offer a selection of Kambi’s global sports odds, however, the flexibility of Kambi’s single API odds feed provides Hard Rock Bet the ability to add additional international or US sports as required.
As Kambi’s first major Odds Feed+ partnership, the collaboration with Hard Rock Digital marks a significant milestone in Kambi’s long-term strategy. The partnership has great potential to become a significant source of revenue for Kambi, subject to the scope of additional services taken by Hard Rock Digital over the coming years.
Werner Becher, Kambi CEO, said: “This Odds Feed+ partnership with Hard Rock Digital represents another important step forward for Kambi. The deal builds on the strategy Kambi set out 18 months ago to leverage our position as the world’s leading sportsbook provider with the offer of standalone products that uniquely benefit from our turnkey sportsbook. Hard Rock is one of the leading sportsbook operators in the US and precisely the kind of prestigious partner we were targeting as part of this modularisation approach.”
Matt Primeaux, Executive Managing Director & President of Hard Rock Digital, added: “The addition of Kambi’s odds feed will provide us with a greater range of betting options and more flexibility, while still allowing our team to maintain control of our core product. We’re excited to partner with Kambi and create more unique experiences for players on our top-rated platform.”
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