Sporttrade initiates US expansion with Colorado launch
Exchange-based platform aims to offer differentiated betting proposition in Centennial State
Sporttrade has officially embarked on its US expansion efforts, with the exchange-based platform launching operations in Colorado on August 29.
Sporttrade has been operating its sports betting exchange – which leverages Nasdaq technology and is backed by institutional market makers, giving it a similar feel to stock trading – in New Jersey for just under a year, carving out a niche among more savvy and price-sensitive consumers.
In Colorado, Sporttrade is rolling out a more traditional sportsbook product as exchange wagering is not permitted under current regulations.
“Our launch today proves that Sporttrade can operate in any jurisdiction, with the same great features our customers have come to know us for,” said Sporttrade CEO Alex Kane. “Instant in-play betting, great prices, awesome liquidity, and the ability to always trade in and out of bets at fair value.”
Sporttrade’s goal is to offer a differentiated product to bettors in Colorado, which features one of the most robust and competitive online markets in the US, having amassed $12bn in handle since 2020.
However, Colorado’s Limited Gaming Control Commission (LGCC) will first need to create a framework for licensing and taxing external market makers before Centennial State bettors can engage with the same Sporttrade product as their New Jersey counterparts.
Sporttrade nonetheless aims to double down on its core competencies – namely in-play betting and trading liquidity – in the role of a traditional sportsbook operator.
“As our industry continues to shift focus towards differentiation and product, I’m proud to say that Sporttrade delivers the best in-play experience the world has ever seen,” said Kane.
Sporttrade was able to enter Colorado through a market-access partnership with GF Gaming.
“Providing a better odds experience for the player is what GF Gaming has always been about,” said GF Gaming general manager Roger Brown. “And Sporttrade brings that same priority to the sports betting market in Colorado.”