Latest News
Sporttrade Launches First and Only Regulated “Sports Trading” Platform in New Jersey
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Sporttrade, a Philadelphia-based sports betting technology company, has officially launched its sports betting exchange in New Jersey. This positions Sporttrade as the first and only dynamic sports trading marketplace in the US. Eligible customers can use Sporttrade to trade in and out of positions on sports outcomes much like they would trade stocks, options, or cryptocurrencies.
Sporttrade, founded in 2018 to elevate the sports betting industry, is an institutional-grade sports betting exchange akin to today’s largest stock exchanges. The platform utilizes proven capital markets technology and infrastructure to enable users to realize profits or trim losses based on changes in the implied probability of an event to occur at any time.
“We are thrilled to be live in the state of New Jersey with the first sports trading platform. New Jersey was the first state to launch legalized sports betting in 2018 and we are proud to be the first operator to launch a unique and differentiated product designed for sports betting and trading enthusiasts seeking a better customer experience,” Alex Kane, Founder and CEO of Sporttrade, said.
Sporttrade’s unique capital markets-like approach is centered around its use of market makers to provide liquidity to the exchange. Sporttrade’s market makers provide tight, liquid, and dynamic markets so that customers can trade frictionlessly both before and during games. Sporttrade also offers unique order types like limit orders which allow customers to buy or sell outcomes at customized prices. Sporttrade is set to become the only venue in New Jersey that allows customers to truly trade sports.
“We set out to create a better and more modern sports betting platform tapping into Americans’ passion for trading. What we’ve launched is the only differentiated sports betting platform in the US, but we believe we are defining a whole new category of sports wagering – trading sports,” Alex Kane added.
Sporttrade will initially offer trading on Win/Loss outcomes, Spreads and Under/Overs for NFL, MLB, NBA, NHL, WNBA, Golf, and College Football and Basketball. Sporttrade is additionally working toward launching in Colorado with GF Gaming and its local affiliate Easy Street Casino in 2023 with other states including Indiana, Louisiana, and more to follow.
Compliance Updates
IGSA Welcomes Sharp Vision as Silver Member
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The International Gaming Standards Association (IGSA) has welcomed Sharp Vision as a new Silver member. Sharp Vision is a leading provider of regulatory turnkey solutions for gaming authorities.
“We are delighted to be a part of IGSA and we look forward to contributing to the advancement of best practices among regulators in the fast-growing gaming industry,” Damien Raymond, COO of Sharp Vision, said.
“IGSA is very excited to welcome Sharp Vision to our membership. We believe that IGSA Standards can enhance Sharp Vision’s products supporting regulatory authority oversight. We look forward to their participation in IGSA committees,” Mark Pace, President of IGSA, said.
Latest News
BigCash Goes Global with Launch in Brazil
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BigCash, India’s leading online skill-based real money gaming company, has set its sights on global expansion and aims to offer an unparalleled gaming experience to users worldwide. The global skill-based gaming market is estimated to grow annually at a CAGR of 13.50% and will be valued at USD 106.78 billion, by 2032. Building on its success in India, BigCash is poised to introduce its entertaining games to global audiences, uniquely blending local flavors with its hallmark innovative gameplay.
BigCash started its journey in 2017 and has quickly become players’ preferred choice, by strategically focusing on launching new games and features regularly and due to its superfast and user-friendly interface. Being a multi-gaming app, it offers a wide range of games tailored for all age groups. With popular Indian card games, like poker, rummy, and call break with regional variations; casual games like ludo, ice blaster, fruit chop, along with fantasy cricket, the platform resonates deeply with the players of Bharat.
Continuing on the mission to take Indian technology global and to reach a wider global gaming audience, BigCash, after months of an in-depth market study, had set its views on expanding its global presence with in-house developed and tailored gaming technology and experience. BigCash presently operates in Brazil, besides India.
One of the key reasons behind BigCash’s entry into the Latin American market is the region’s immense potential for growth in the gaming sector. Brazil, in particular, has emerged as a hotspot for gaming companies due to its large population, favorable demographics, and a growing middle class with disposable income.
BigCash’s global expansion plans include multiple launches in Latin America, Asia, and Africa over the next 12 months. BigCash plans to offer local and international flavors, customized specifically for each country, with a focus on Responsible Gaming and other trust measures, to ensure a deeper bonding with the players.
Ankur Singh, CEO of BigCash, said: “Going global has been part of our strategic planning always; with our launch in Brazil, we have just taken the first step. We are aspiring to be present in 8 countries in the next 12 months. The competitive landscape in Latin America’s gaming industry presents both opportunities and challenges. BigCash is a perfect fit for the Latin American gaming landscape due to our stronghold on tech, which allows product customizations, easy-to-play online games, a supersafe and fast experience; we are already gaining a lot of organic traction.”
Latest News
Michigan Lottery Transitions to 1-800-GAMBLER for Responsible Gaming Support
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The Michigan Lottery announced that it will transition to the National Problem Gambling Helpline, 1-800-GAMBLER for responsible gaming support. This aligns the agency with the Michigan Gaming Control Board and other online gaming platforms operating in Michigan in promoting 1-800-GAMBLER. The 1-800-GAMBLER helpline will replace the Michigan Problem Gambling Helpline currently in circulation (1-800-270-7117), although the previous number will remain in operation.
“The Lottery is committed to providing Michiganders with easy access to resources that support responsible gaming. By transitioning to 1-800-GAMBLER, we are able to ensure that Michigan residents can reach specially trained staff who can provide confidential professional support, local referrals, and resources to those who may have a gambling problem,” said Lottery Commissioner Suzanna Shkreli.
Operated by the National Council on Problem Gambling (NCPG), 1-800-GAMBLER is the world’s largest problem gambling helpline network by call volume, population served, and geographic area covered. The helpline connects people and families impacted by problem gambling with professional support, local referrals, and resources.
Calls made to 1-800-GAMBLER from Michigan will be routed to the Michigan Department of Health and Human Services. The helpline can also be reached by texting 800GAM or chatting online at 1800gamblerchat.org. Trained contact center staff are available 24/7, 365 days a year to provide support, guidance, and relevant information to anyone seeking help related to problem gambling. Additionally, players or their family members may connect to support resources such as live chat, text, and the helpline number by selecting the links in the footer of the Lottery’s website.
The Michigan Lottery was the first lottery in the US to achieve the Internet Responsible Gambling Compliance Assessment Program certification through NCPG in October 2015. The NCPG evaluated the Lottery’s compliance with Internet Responsible Gaming (IRG) standards developed based on best practices from jurisdictions around the world. IRG standards are the highest standards for online responsible gaming in the nation.
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