Philadelphia-based sports activities betting fintech platform Sporttrade has introduced its acquisition of Denver-based Momentum Sports activities and Leisure. The transfer will permit the sports activities betting platform to develop into the state of Colorado.
Colorado’s rising sports activities betting group
Momentum Sports activities holds a sports activities betting operator license by way of an settlement with GF Gaming and its affiliate Simple Road On line casino. Sporttrade’s Colorado sports activities betting license will now be held by Simple Road On line casino.
Momentum Sports activities founder, Dan Kelliher, is pleased with the acquisition. He mentioned: “Momentum Sports activities was based to generate community-focused financial progress. With Sporttrade’s distinctive sports activities betting mannequin, they’re the one sports activities betting platform that gives a real capital market expertise to their clients and we’re proud to transition our gaming license to Sporttrade to serve Colorado’s rising sports activities betting group and to proceed to evolve the business.”
A win for gamers
This information comes simply weeks after Sporttrade introduced it had raised over $35m (£25m) in funding. Funding got here from numerous key figures and firms within the monetary and gaming industries resembling former CEO of MGM Resorts Worldwide Jim Murren and former CEO of the Nasdaq Inventory Change Tom Wittman.
Funding will contribute in direction of buyer acquisition, state enlargement, and continued funding in a first-class staff down the road.
Because of the transaction, gamers in Colorado can place bets by way of a separate Sporttrade app that’s set to launch within the first half of 2022.
A quick historical past of Sporttrade
Based in 2018, Sporttrade has raised the bar for the sports activities betting business. Its open betting market is exclusive in that it provides gamers the chance to commerce sporting occasions as they might commerce shares. It additionally advantages from tighter spreads and larger liquidity. Gamers can even commerce out and in of bets at any given time.
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