UK-based sports betting operator Smarkets has inked a multi-million dollar contract with casino developer and operator Full House Resorts, Inc. Under the agreement, the London-headquartered sports gambling giant will partner with Full House to offer online wagering services in Colorado and Indiana.
The move comes barely three weeks after the launch of a new sportsbook product by Smarkets. The app, dubbed SBK, went live in the UK on Aug. 8.
With the new partnership deal in place, the SBK app is set to go live in Indiana in late 2019. The SBK Sportsbook product will feature a PC site as well as downloadable mobile apps for both iOS and Android.
The operator’s entry in the Hoosier State will be facilitated by Rising Star Casino Resort, which is located in Rising Sun. Bronco Billy’s Casino Hotel in Cripple Creek will be Smarkets’ land-based partner in Colorado.
Sportsbooks in Indiana began taking bets on Sept. 1, while Colorado is counting on voters to approve the market in November.
Smarkets To Focus On Providing Value For Money
Mostly known for its betting exchange platform, Smarkets has said that it aims to make a massive difference in the dynamic world of sports wagering. According to the firm, the new sportsbook app will combine a social-focused user interface with industry-disrupting odds.
During the time of its launch, Smarkets stated that the sportsbook app would offer the same prices as the betting exchange, which it considers to have the best odds in the world.
Also, the company has said that the SBK app will come with a feature that will help bettors to see how often they are getting the best odds in the market. This feature, which is known as SBK Price+, will allow users to compare the odds prices offered by Smarkets against other sportsbooks.
SBK Price+ will be available for football betting only at the time of the launch, and it will be added gradually to other sports markets later on.
The company is also planning to introduce its betting exchange to the US market in the future. The exchange allows bettors to offer odds on events and accept bets from their peers. This means that customers bet against each other as opposed to the house. In return, the sportsbook pockets a small commission on winning wagers.
However, Smarkets did not reveal when the exchange will debut in the US market.
Founded in 2008, Smarkets is a popular betting exchange among sports betting enthusiasts in Europe. The company’s main headquarters are in London, UK, but it has offices in Los Angeles and Malta.
As a betting exchange, Smarkets allows its customers to lay odds prices on various sporting events and politics, and other users can wager on these markets. According to the company, the exchange has handled more than $15.6 billion in wagers since its inception in 2008.
Following the company’s success in the UK and other regulated markets, Smarkets is now entering the sports betting industry as a fully-fledged traditional bookmaker. The operator will offer these services through the SBK App it launched last month.
However, the SBK Sportsbook app is expected to premiere in the US later this year with Indiana being the most likely state for its rollout.
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