Bookiecity, Author at Bookiecity

Prophet Exchange receives over $10 million in funding

New-Jersey based betting exchange, Prophet Exchange (Prophet), has acquired over $10.0m in funding to advance its peer-to-peer, high frequency exchange.

The company is backed by funds from MIXI, Inc., Ninjabet.com and Chicago Trading Company. In a statement by Prophet Exchange, it says the backing by these companies is “a validation for their peer-to-peer exchange model.”

In regard to the peer-to-peer model, chief operating officer and co-founder, Jake Benzaquen states that “to be frank, something has always bothered us about ‘the house always wins”.

“At Prophet, we win only when the user wins,” Benzaquen said. “As the first pro-consumer betting exchange in the country, we believe it’s time for the house to lose a few hands.”

Prophet aims to use these funds to work towards profitibility and grow its tech offering. Additionally, it is to develop consumer-based functions such as increased liquidity, growing the roster of events and affing smart-wallet technology.

Chief executiv..

April 12, 2023

New York online sports wagers reach $16.40bn in FY22

Sports Betting News Bookiecity

Consumers in New York spent $16.40bn betting on sports online during the first full financial year of regulation in the US state, while revenue for the period reached $1.46bn.

New York opened its legal online sports betting market in January last year and the state’s 2022 financial year ran from April 2022 through to the end of March this year.

During the opening year, Flutter Entertainment-owned FanDuel Group led the market with $756.0m in gross gaming revenue from $6.82bn in total wagers.

Read the full story on iGB North America.

April 11, 2023

Betfred to sponsor the Oaks and the Derby at Epsom Downs

Sports Betting News Bookiecity

In a three-year deal, Betfred has announced it is to be the new sponsor of the Oaks and the Derby at Epsom Downs.

The operator will also sponsor two other races over the two days of the Derby in June, however these are yet to be determined. Betfred notes that this is the first of a series of announcements regarding the partnership to be released in the forthcoming weeks.

Betfred previously has been involved in British racing as the sponsor of a number of racing events, including the Cheltenham Gold Cup from 2012 to 2015, as well as the Group One Sprint Cup at Haydock Park.

Betfred founder Fred Done said he was “immensely proud” to be sponsoring the races.

Done said that “for me, the Derby remains the greatest flat race in the world.”

“When you look at some of the horses and characters that have won this great race, Sea-Bird, Mill Reef, Nijinsky, Sir Gordon Richards, Lester Piggott, and Frankie Dettori, it has an amazing history, and I am delighted to become a part of it for at..

April 11, 2023

Sportradar extends with college sport’s Big Ten Network

Sports Betting News Bookiecity

Sportradar has renewed its partnership with Big Ten Network to power its OTT platform B1G+ until the end of the 2024-25 college athletics season.

The two-season extension will see Sportradar collaborate with Big Ten Network to enhance the user experience for fans of one of the premier collegiate conferences in the US through additional front-end experiences that also include the integration and visualisation of sports data.

Additionally, Sportradar is continuing to provide Big Ten Network its technology and data-driven OTT solutions to manage the B1G+’s OTT backend and frontend – including web, mobile and connected TV apps – UX/UI design, as well as third-party integration.

Big Ten Network originally selected Sportradar to support the relaunch of B1G+ in summer 2021, delivering live streams of Big Ten Olympic sports, video-on-demand of basketball and football games, and school-specific channels allowing fans to focus on content from their favorite team, for one of the premier colleg..

April 6, 2023

2023 Masters Odds Tracker powered by Kambi

Sports Betting News Bookiecity

2023 Masters Odds Tracker powered by Kambi

April 6, 2023

Kambi agrees deal extension with BetPlay operator

Sports Betting News Bookiecity

Sports betting supplier Kambi Group announced an extension of its sportsbook deal with Colombian BetPlay operator Corredor Empresarial SA.

The deal is the second renewal of the initial agreement that the two parties first signed in 2017, since which BetPlay has become the Colombian market leader.

The provider said that the Latin American has become a “key market” for the supplier, with BetPlay utilising a number of Kambi’s technology and services, including its Bet Builder product.

“We are pleased to agree a long-term extension to our successful partnership with Corredor Empresarial, providing its customers with next generation betting entertainment,” said Kambi CEO and co-founder Kristian Nylén.

“The Latin American market continues to hold great promise for Kambi and we look forward to aiding Corredor Empresarial as it expands across the region with Kambi’s cutting-edge complete sportsbook.”

As part of the renewal contract, the provider will continue to power BetPlay’s sportsbook..

April 5, 2023

DC sports betting revenue up in February despite handle decline

Sports Betting News Bookiecity

Sports wagering revenue in Washington DC increased year-on-year during February despite a fall in player spending.

Gross gaming revenue for the month reached $1.2m, which was 62.0% ahead of $740,552 in the same month last year but 20.0% lower than $1.5m in January 2023.

DC’s sports betting handle in February amounted to $12.6m, down 34.0% from $19.1m in February 2022 and also 21.9% behind $18.5m in January of this year.

Gambet, operated by the DC Lottery and powered by Intralot, remained the frontrunner in the market with $626,273 in revenue from $5.7m in total wagers for the month.

Read the full story on iGB North America.

April 5, 2023

FanDuel partners Spotify for content production

Sports Betting News Bookiecity

Flutter Entertainment-owned FanDuel Group has agreed a multi-year content production partnership with global streaming audio platform Spotify.

Under the new agreement, which builds on an existing partnership between the two parties, FanDuel will work with Spotify’s “The Ringer” website, podcast network and video production house to create content for FanDuel TV.

The Ringer will license select video podcasts to FanDuel TV including existing shows adapted for FanDuel TV and a number of new shows covering sports and competitions such as the National Basketball Association (NBA).

Read the full story on iGB North America.

April 4, 2023

Colorado sports betting handle hits $425.1m in February

Sports Betting News Bookiecity

Players in Colorado spent a total of $425.1m betting on sports during February, a decline on the same month in the previous year also down from January this year.

Betting handle for the month was 3.5% below the $440.5m wagered during February of last year and 22.3% lower than $547.2m in January 2023.

Of this total, $421.6m was wagered on sports online, with the remaining $3.5m attributed to betting at retail sportsbooks across Colorado.

Read the full story on iGB North America.

April 3, 2023

Kentucky governor signs sports betting bill into law

Sports Betting News Bookiecity

Kentucky’s Democrat governor, Andy Beshear, has signed into law a bill that will legalise sports betting in the Bluegrass State.

House Bill 551 will make nine racetracks eligible to offer on-site retail sports betting, while each track will also be able to partner with up to three online operators, meaning up to 27 licences may be issued by the Kentucky Horse Racing Commission (KHRC).

The bill also establishes a two-tier system to taxation, with online operators to be taxed at 14.25% of gross gambling revenue, compared to the 9.75% imposed on the retail offerings.

Read the full story on iGB North America

Author: Bookiecity