"First milestone" in US market strategy

New Jersey licenses esports odds feeds provider Oddin.gg

Vlastimil Venclik, Oddin.gg CEO.
2022-01-31
United States
Reading time 2:17 min

B2B provider of esports odds feeds Oddin.gg has received permission to provide its betting solutions in New Jersey, the company announced. The New Jersey Division of Gaming Enforcement has accepted the business’ submission of their gaming license application, in accordance with the provision of the Casino Control Act.

Following the approval, Oddin.gg is now able to offer its products to licensed operators in the Garden State, explains a press release. The announcement marks the company’s “first milestone” in its US strategy.

Founded in 2019, Prague-based Oddin.gg describes itself as a B2B esports odds feed and risk management provider that “delivers the most engaging esports betting experience” with industry-leading uptime and number of live markets.

The solution is set to boost engagement, drive volume and increase margin, thus accelerating profitability. This is achieved by a combination of state-of-the-art technologies, advanced data science and machine learning algorithms, experienced traders, and official data.

Oddin.gg’s team has more than 50 years of combined experience in betting and esports, having done business with a number of complex platforms globally, including Betfair Exchange. The company provides odds and risk management for some of esports largest games, including Counter-Strike, League of Legends, and Dota 2.

“We have reached the first milestone in our US market strategy,” said Vlastimil Venclik, CEO of Oddin.gg. “We intend to penetrate the market swiftly and expertly, both directly as license holders as well as through the existing network of our partners.”

According to the executive, legal esports betting has been experiencing noticeable growth in the US, presenting an opportunity for companies within the sector: Oddin.gg aspires “to become a catalyst for exponential growth.”

“With the guidance of Becky Harris, senior advisor to the board and former chairwoman of the Nevada Gaming Control Board, our vision is to become the thought leader for our licensed US partners,” added Venclick. “There will be more announcements coming soon. Stay tuned.”

Oddin.gg’s approval is effective under the Division of Gaming Enforcement’s acquired responsibility for approving sportsbook technology and regulation of operations in the state. New Jersey’s esports betting bill came into effect in June 2021, opening the door for operators and vendors to serve the billion-dollar market.

Earlier this month, the esports company inked a deal with iGaming expert and software provider SOFTSWISS. Under the partnership, Oddin.gg is set to provide SOFTSWISS Sportsbook’s clients access to more markets and betting opportunities. The deal includes access to live streaming, multiple live markets, a wide selection of esports tournaments, and the largest uptime in the industry of over 80%. 

“We feel fortunate to partner with SOFTSWISS, which has shown tremendous dedication to create the perfect Sportsbook platform for their clients,” Venclik said upon the announcement. “Each and every modern betting product needs to include an engaging esports solution.”

The new license approval follows New Jersey Division of Gaming Enforcement's license granted to Esports Entertainment Group in late January to take bets on esports games, becoming the first company with this permit. EEG will be affiliated to Bally’s Atlantic City’s casino license, but will only be able to take bets on esports. 

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