Smarkets is an English based betting exchange company that has announced its entry into the US market. The company has headquarters in the UK with two other offices in Malta and Los Angeles. Smarkets allows for peer-to-peer betting through its betting exchange. Bettors can set their own odds and bets against each other. The company has partnered with Full House Resorts to provide its online sportsbook, SBK to the casino operator. SBK will see Smarkets transition from being a betting exchange to an established sports sportsbook. The app features a sleek and social interface. The SBK app will only be available for download in Indiana and Colorado on Android and iOS devices. The app will be obtainable in late 2019 right in time for NFL playoffs.
About Full House
Full House is a casino operator based in Las Vegas. The operator has facilities in Indian, Colorado, Mississippi and Nevada. Both Missippi and Nevada facilities do not form part of the SBK deal for now. Alex Stolyar, SVP and Chief development officer of Full House said eth SBK sportsbook would bring new innovations to the industry such as social networking.
Smarkets Social Networking
The social networking will allow bettors to share their bets with an SBK network after they make a wager. The network can include anyone from friends or anyone who is within the SBK network. Bettors can also share event tips. Bettors within the network will be able to react by commenting in the shared bet. The network also has access to the bettors’ track record, which will help other bettors make their decisions. Vice president of software engineering at Smarkets, Mark Miscavage said to keep a particle of security and privacy the network would not have access to the overall profits of other bettors.
Details of the Deal
The SBK app is set to launch in Indiana and Colorado. The launch in Indiana follows the legalization of sports betting in Indiana. Governor Eric Holcomb passed the law in May. Unfortunately, the Colorado launch is not in the pipeline as yet as sports betting is not legal in the state as yet. A state referendum is set to vote to sanction the sports betting bill in November. This also means that bettors in Indiana can only trade amongst themselves.
Overview
Apart from the SBK app, Smarkets, there is also an opportunity to introduce betting exchange in the US. Smarkets betting exchange has processed over $15.6 billion in trading volume. Bettors with the Indiana boarders in for a treat with the SBK app. The app is affiliated with the Raising Star Casino and patrons of the casino should be able to enjoy the full sports betting experience before 2020.
