Tag: Sporttrade

Sporttrade, Plannatech awarded Arizona event wagering licences

On Friday (2 August) the Arizona Department of Gaming (ADoG) awarded two tribal-tethered event wagering licences. Sporttrade, currently live in Iowa, New Jersey and Colorado, and UK-based Plannatech are now approved to offer digital betting.
Both companies will be tethered to tribes. Sporttrade will partner with the Quechan Indian tribe of the Fort Yuma Indian reservation and Plannatech will partner with San Carlos Apache Tribal Gaming Enterprise.

The Quechan tribe was formerly partnered with Unibet, which exited the state earlier this year. The San Carlos Apache were partnered with WynnBet, which is unwinding its platform across the country.

Sporttrade offers exchange wagering in New Jersey and has technology that allows an experience similar to playing the stock market. But the company has struggled to convince other regulators to allow this type of betting. It is live in Colorado and Iowa as a traditional sportsbook.

It is not apparent that Arizona allows exchange wagering.
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Sporttrade now live in Colorado

Sports betting exchange Sporttrade is now live in its second state after launching in Colorado.

The Philadelphia-based operator enters the Colorado market with strategic partner GF Gaming. The pair said Coloradans will benefit from Sporttrade’s unique structure within the sports betting market.

In particular, it highlighted its capital markets-like approach centred around its use of market makers to provide liquidity to the exchange. Low liquidity in ring-fenced US jurisdictions have been a long-standing problem for betting exchanges.

The Colorado launch comes after Sporttrade entered New Jersey as its first sports trading platform in September 2022.

“Today we’re privileged to introduce the Sporttrade experience in Colorado,” said Alex Kane, Sporttrade’s founder and chief executive.

“Our launch today proves that Sporttrade can operate in any jurisdiction, with the same great features our customers have come to know us for; instant in-play betting, great prices, awesome liquidit..

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