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PHILADELPHIA, Oct. 4, 2024 ~ Philadelphia-based sports betting operator, Sporttrade Inc., has announced the addition of strategic investor SIG Sports Investments Corp. to its team. The partnership, which includes SIGSports Analytics and its affiliated entities, will provide substantial growth capital to Sporttrade and work towards enhancing the company's key markets.
SIGSports Analytics has made two separate investments in Sporttrade since 2023 and plans to continue improving the platform by providing additional liquidity and improved pricing for high volume markets across various sports and contract types. This will be implemented in the coming months with a long-term focus on creating a highly liquid sports betting platform with top-notch pricing.
The funding from SIGSports Analytics will be used for customer acquisition, expansion into new states, and continued investment in the platform and underlying technology. This is a significant milestone for Sporttrade, according to Founder and CEO Alex Kane.
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Kane stated, "Today's announcement represents an impactful milestone for Sporttrade. SIGSports Analytics shares our vision for the regulated sports betting opportunity in the US; to create a highly differentiated player experience powered by stellar liquidity."
Currently, Sporttrade offers its premium sports betting product in Arizona, Colorado, Iowa, and New Jersey. The company has also been approved to launch in Virginia and is hopeful that players in Virginia will have access by late October. With a focus on continued state expansion over the months and years to come, Sporttrade aims to reach more consumers across the US.
Vice President of SIGSports Analytics Joe Grubb commented on the investment saying, "With the US sports betting industry still in its early stages, we believe there is an underserved portion of US consumers hungry for a sports betting platform that prioritizes cutting edge pricing and offers liquidity unmatched by the current regulated market." Grubb also expressed confidence in Sporttrade's team and their ability to address industry-wide challenges.
This partnership between Sporttrade Inc. and SIG Sports Investments Corp. marks an exciting development for both companies and the sports betting industry as a whole. With a shared vision and focus on providing top-quality services to consumers, this collaboration is sure to bring about positive changes in the market.
SIGSports Analytics has made two separate investments in Sporttrade since 2023 and plans to continue improving the platform by providing additional liquidity and improved pricing for high volume markets across various sports and contract types. This will be implemented in the coming months with a long-term focus on creating a highly liquid sports betting platform with top-notch pricing.
The funding from SIGSports Analytics will be used for customer acquisition, expansion into new states, and continued investment in the platform and underlying technology. This is a significant milestone for Sporttrade, according to Founder and CEO Alex Kane.
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Kane stated, "Today's announcement represents an impactful milestone for Sporttrade. SIGSports Analytics shares our vision for the regulated sports betting opportunity in the US; to create a highly differentiated player experience powered by stellar liquidity."
Currently, Sporttrade offers its premium sports betting product in Arizona, Colorado, Iowa, and New Jersey. The company has also been approved to launch in Virginia and is hopeful that players in Virginia will have access by late October. With a focus on continued state expansion over the months and years to come, Sporttrade aims to reach more consumers across the US.
Vice President of SIGSports Analytics Joe Grubb commented on the investment saying, "With the US sports betting industry still in its early stages, we believe there is an underserved portion of US consumers hungry for a sports betting platform that prioritizes cutting edge pricing and offers liquidity unmatched by the current regulated market." Grubb also expressed confidence in Sporttrade's team and their ability to address industry-wide challenges.
This partnership between Sporttrade Inc. and SIG Sports Investments Corp. marks an exciting development for both companies and the sports betting industry as a whole. With a shared vision and focus on providing top-quality services to consumers, this collaboration is sure to bring about positive changes in the market.
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