Betting exchange operator Smarkets has announced that it will enter the US sports betting market in partnership with NASDAQ-listed casino operator Full House Resorts.
Smarkets will initially launch its SBK mobile sports betting product — which was rolled out earlier this month — in Colorado and Iowa initially, but hopes to add retail operations in the future.
The company said it will act as sportsbook provider for Full House Resorts’ Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado and Rising Star Casino Resort in Rising Sun, Indiana.
While Indiana’s sports betting market opened on 1 September, Colorado’s sports betting legislation must be confirmed by a referendum in November before coming into effect.
“This is a landmark day for Smarkets,” chief executive and founder Jason Trost said. “As an American myself, I’m thrilled to bring our world-leading technology to Indiana and Colorado, as well as more states across the country.
“I truly believe that an agile company like ours can make a huge impact against some of the bigger players thanks to our superior technology and focus on providing the best prices.”
The SBK mobile app will be available for customers in Indiana to download for iOS and Android in late 2019. Mobile sports betting is legal in Indiana but currently no operator has launched a mobile component in the state.
Smarkets’ new US partner, Full House Resorts, is a Nevada-headquartered operator that also owns properties in Nevada and Mississippi alongside its Colorado and Indiana venues.
“This is a very exciting time for sports betting in Indiana and Colorado, and we are delighted to partner with Smarkets,” its senior vice president and chief development officer Alex Stolyar said.
“The SBK sportsbook platform that Jason and his team have built brings many new innovations to the industry, including a unique social network to heighten the customer experience.”
The SBK was launched on 9 August in the UK, and features an SBK Price+ comparison feature, which allows users to compare Smarkets’ prices directly against other bookmakers.
Smarkets was founded in 2008 and has processed over £14bn (€15.2bn/$17.0bn) in trading volume since its launch.