- Sports data provider Betgenius and gaming technology firm Gaming Innovation Group (GiG) have announced a strategic partnership.
- The plan is to integrate Betgenius’ data and risk management with GiG’s platform technology to create a ‘fully integrated sportsbook solution’.
- The first customer is reportedly a major Latin American based operator who has yet to be identified.
One of the most active–and lucrative–areas of the emerging North American sports betting industry has been ‘under the hood’. The race to provide operators with cutting edge and scalable solutions for trading and risk management tools continues to heat up with the announcement that Oslo listed/Malta based Gaming Innovation Group (GiG) and sports data specialist Betgenius will team up to create a ‘fully integrated sportsbook and platform solution for operators in regulated markets.’
A press release from Betgenius outlined some of the particulars:
Gaming Innovation Group (GiG) and Betgenius have signed a strategic partnership that creates a fully-integrated sportsbook and platform solution for operators in regulated markets around the world.
The agreement brings together GiG’s proven platform technology with Betgenius’ end-to-end live data, trading and risk management services as a complete sportsbook. This includes official sports betting content from over 300 competitions including the English Premier League, Serie A and EuroLeague basketball.
Betgenius will take on all day-to-day sportsbook management operations, including fully customisable pricing for pre-match and in-play sports, while GiG will provide robust, highly compliant and fast-to-market platform (PAM), technical architecture and front-end development.
The partnership has already signed a Heads of Terms to supply platform and sportsbook software to a major LatAM operator. The final agreement with this operator is expected to be signed in September and will be based on a revenue share model with a minimum contract term of three years.
Jack Davison, Chief Commercial Officer at Genius Sports Group, the parent company of Betgenius had this to say about the partnership with GiG:
“The Betgenius-GiG partnership is highly complementary for a number of reasons. Not only do our technologies and specialist services dovetail perfectly to create a complete sportsbook platform solution, our values as highly compliant businesses who operate in a responsible way are very much aligned. We’re excited to work together.”
Richard Brown, CEO of GiG had these thoughts:
“Betgenius is a market leader within sports data as well as having a first-class risk and trading management solution, and I am delighted that they have chosen GiG as their partner to create a sportsbook and platform solution. Combined we will offer a highly competitive offering to the market, already proven by the signing of a Heads of Terms with a major operator. The partnership will also further improve operational efficiency within our Sports segment.”
European companies have so far been the dominant players in providing live data services to US sportsbooks. Betgenius along with Switzerland based Betradar are the industry leaders. American companies have been more competitive with technology platforms as Las Vegas based Bet.Works and gaming industry behemoth IGT (technically a UK company but with a large US presence) establishing themselves in the market. IGT has recently announced the addition of in-house oddsmaking services for US clients based in Las Vegas. There’s every reason to expect a greater US presence in these market area as the American sports betting industry matures.