Sports betting

Smarkets seeking sportsbook deals in a number of states

Operator is looking to launch the product directly to customers in New Jersey, West Virginia and Tennessee as product nears completion

London-headquartered betting exchange Smarkets is in the process of securing deals to launch its SBK fixed-odds sportsbook in a number of already licensed states including New Jersey, West Virginia and Tennessee.

Speaking to EGR, VP of engineering Mark Miscavage said the operator, which develops its SBK product out of a tech hub in LA, is looking to acquire skins in regulated states but aims to operate directly to customer.

“We are definitely interested in having an open market like the UK so Tennessee is interesting to us, we’re still working on potential deals in NJ, West Virginia and keeping an eye on some of the other states like Massachusetts, Virginia, Iowa,” Miscavage said.

“We would like to operate as ourselves directly to customer. I don’t want to take any deals off the table whether it’s B2B perhaps, but we definitely want to operate as ourselves in the US,” Miscavage added.

The SBK sportsbook is still in limited release in the UK but its official launch is planned for the next Premier League.

Once the product is fully rolled out in the UK, the operator will shift its focus onto the US, where it hopes to launch SBK ahead of the next NFL season.

Miscavage said the team recently hired someone to work on marketing the product in the US.

According to investor documents seen by EGR, the firm is seeking to raise new capital to fund its US expansion.

Miscavage said he had nothing further to add on the subject at the moment.

New Jersey | Smarkets | Sports betting | West Virginia