The legal US sports betting market continues to expand with more and more states going live. By the end of this year, over 30 states could be offering some form of legal betting within their borders.
As the market expands, so does the number of licensed US sportsbook operators. To keep their betting base engaged, these operators have also expanded the various betting options offered for all the major sports. This expansion includes the popular player-prop market.
Sports IQ has built its business around proprietary betting options. This Vancouver-based sports technology supplier focuses most of its energy on prop bet solutions for the US sports betting industry.
More recently, Sports IQ will be expanding its horizons through a new partnership with Sporting Solutions. This company is part of the FDJ Group. Based in France, Sporting Solutions is a leading supplier of lottery and sports betting products and services in the UK and Europe.
Expanding into the North American market, Sporting Solutions has created strategic alliances in Canada. These deals include Ontario Lottery and Gaming Corporation (OLG) and Alberta Gaming, Liquor, and Cannabis Commission (AGLC).
This past July, Sporting Solutions partnered with SCCG Management. This Las Vegas-based gaming consultancy is tasked with helping to expand the company’s North American market presence.
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Andy Wright is the chief executive at Sports Solutions. His thoughts on the new partnership with Sports IQ included:
“This partnership will accelerate our strategy to provide the North American market with our leading expertise in trading and risk management services, in addition to us building upon our recent successful managed service integrations with Ontario and Alberta”.
As CEO of Sports IQ, Omer Dor offered this insight into this new collaboration:
“We’re delighted to attach our names to theirs and power their continued growth with innovative product lines. With the recent announcements of the OLG and AGLC as clients of Sporting Solutions, it’s particularly exciting for us to be able to support operators in our own back yard here in Canada.”
Sports IQ remains extremely active in expanding its corporate footprint with strategic alliances this year. The partnership with Sports Solutions comes on the heels of deals with IGT, Betway, and BetClic.
The company was also able to raise $7 million to help fund its growth. The prop bet market in the US continues to stay hot with legal sports betting operators. More and more avid players are using props to diversify their overall sports betting strategy.
This is especially relevant in the expanding Canadian market. Through recent changes in the law, single-game betting is now legal. In the past, the only legal form of sports betting was through multi-team parlays.
It is now up to each individual province to institute this major change into its current system. Ontario, as Canada’s most populated province, along with Alberta have already taken the most progressive approach. This is highlighted by the recent partnership with Sporting Solutions.