Sports betting supplier Miomni Gaming is set to introduce a new exchange betting product, MiOffer, to the US market in 2021.
The product, which has been patent protected since 2012, combines elements of traditional sportsbook management with exchange wagering and can be complementary to or independent of existing sportsbooks.
The product can be managed in-house or outsourced to Miomni. The supplier claimed it is a risk free proposition which enables greater market transparent and player confidence, bringing higher sustainable revenues into the gaming ecosystem.
Since any unmatched offers on the exchange would automatically be recognized by its software, the supplier said it is an error-free system, ensuring that the administrator and the ecosystem are constantly in communication.
It stated the product would bring several benefits to operators, including full transparency, expanded market access and visibility, integrity in pricing, increased player confidence and engagement, expanded liquidity, automatic hedging facilities and full compliance and regulatory measures.
Most sports betting operators in the US offer only fixed-odds wagering, as betting exchanges have yet to penetrate the market, and those that do can only build liquidity in individual states.
In August, Twin River Worldwide Holdings granted the second of three online sports betting skins it was set to gain through its acquisition of Bally’s Atlantic City to exchange betting start-up, Sporttrade.
At the time, Sporttrade said it was developing what would be the first regulated betting exchange in the US. The launch is subject to approval of Twin River’s acquisition of Bally’s Atlantic City, which is expected to be completed in the first quarter of 2021.