They will target US if the gambling ban is lifted

British betting exchange operator Smarkets creates 5 M sportsbook

The prospect of legalized sports betting in the U.S. has led Smarkets and several other British online gambling company to start paying attention to the US market.
2018-02-16
Reading time 1:02 min
“The main reason we’re building this is to go into the U.S. We estimate the market there could be worth $10 billion to $20 billion were it to be fully liberalized," Smarkets Chief Executive Officer Jason Trost stated.

Britain-based betting exchange operator Smarkets has revealed its latest $5 million investment to create a traditional sportsbook that will first be launched in its home market in coming months.

“The main reason we’re building this is to go into the U.S. We estimate the market there could be worth $10 billion to $20 billion were it to be fully liberalized," Smarkets Chief Executive Officer Jason Trost stated. 

The prospect of legalized sports betting in the U.S. has led Smarkets and several other British online gambling company to start paying attention to the US market. The Supreme Court is due to rule in coming months on whether to end a federal law that prohibits such gambling, with at least four states having already enacted legislation to legalize and regulate sports betting.

Trost said the company’s aim has been to take sports bets globally since he founded the business about a decade ago.

First comes the U.K., where the online sports betting market is already crowded. Smarkets won’t compile its own odds, instead drawing them from the betting exchange it has already been operating, where users can place wagers on an event and act as the bookmaker. By doing so, Trost expects to be able to offer bigger odds than traditional compilers.

“There’s a huge opportunity in terms of people wanting the best prices, but not wanting to go to the exchanges,” Trost said.

Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR