LONDON, Sept. 4, 2019 /PRNewswire/ — Sports betting operator Smarkets has today announced that it has signed contracts to enter into a multi-million-dollar, long-term partnership with casino developer and operator Full House Resorts (Nasdaq: FLL) to offer online sports wagering in Indiana and Colorado.
The Indiana sports betting legislation became law after Governor Eric Holcomb signed the measure in May of this year, exactly one year after the US Supreme Court’s decision to strike down the federal law restricting American sports betting.
Meanwhile, Colorado residents will vote this November to ratify sports betting bill, HB 19-1327. If approved, online sports wagering could be available in the Centennial State by Spring 2020.
With these initial agreements to enter the US market, Smarkets, which is headquartered in the UK and has offices in Los Angeles and Malta, plans to initially operate its recently launched SBK sportsbook. The company will be well positioned to accelerate growth through its internationalization plans across these two brands.
Smarkets CEO & Founder Jason Trost said: “This is a landmark day for Smarkets. As an American myself, I’m thrilled to bring our world-leading technology to Indiana and Colorado, as well as more states across the country.
“I truly believe that an agile company like ours can make a huge impact against some of the bigger players thanks to our superior technology and focus on providing the best prices.”
SBK will be available for customers in Indiana to download for iOS and Android in late 2019.
Alex Stolyar, Full House Resorts SVP & Chief Development Officer, added: “This is a very exciting time for sports betting in Indiana and Colorado, and we are delighted to partner with Smarkets. The SBK sportsbook platform that Jason and his team have built brings many new innovations to the industry, including a unique social network to heighten the customer experience.”
While Smarkets is initially launching in America with its SBK app, it also sees an opportunity in the future to introduce its established betting exchange, which has processed over £14 billion ($15.6 billion) in trading volume, as more US states adopt online sports betting.
- Founded in 2008, Smarkets is an award-winning, product-focused, betting company headquartered in London, with offices in Los Angeles and Malta.
- The company was founded by a team of finance and software engineering professionals, and backed by Passion Capital and Deutsche Telekom.
- The Smarkets exchange has processed over £14 billion ($15.6 billion) worth of transactions for customers across the company’s licensed and regulated markets.
- SBK is a new sportsbook that delivers industry-disrupting odds. It draws these prices from the Smarkets exchange but offers a sleek, social, sportsbook experience for those customers that want the better pricing of an exchange with the cleaner interface of a sportsbook.
- For more information, visit smarkets.com, smarketshq.com, getsbk.com.
About Full House Resorts
Full House Resorts owns, leases, develops and operates gaming facilities throughout the country. The Company’s properties include Silver Slipper Casino and Hotel in Hancock County, Mississippi; Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and Stockman’s Casino in Fallon, Nevada. The Company also operates the Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada under a lease agreement with the Hyatt organization. Further information about Full House Resorts can be viewed on its website at www.fullhouseresorts.com.