Sports trading platform Sporttrade has announced a partnership with geo-location and compliance technology firm Xpoint in a deal that will enhance its service offering considerably.
It will mean that Xpoint’s technology can be integrated into Sporttrade’s digital platforms resulting in the company being able to make sure that customer transactions on their platform are complying with the laws within their specific state.
While numerous states across the US have passed online gambling bills recently, each individual state is different in terms of what is allowed.
Such a deal will see two US-based companies join forces – Sporttrade being based in Philadelphia, with its new partner in the warmer climes of Miami. In addition to making sure that customers are complying with the laws, there are several other benefits, especially for Sporttrade.
The data that they can collect will allow them to see in which areas online gambling and sports betting is most prevalent and also which markets are the most popular, giving them valuable statistics to potentially leverage into other products.
For operators, particularly new ones, this is the kind of data that could be invaluable to them, as they seek to gain a competitive advantage in a new marketplace.
Founder and CEO of Sporttrade, Alex Kane, noted his enthusiasm surrounding the deal, stating: “We are thrilled to be partnered with another firm challenging incumbents in the sports gaming space. As a startup, Xpoint has been truly focused on partnering with Sporttrade for the long-term success of our business by strategically aligning themselves with us.”
Meanwhile, CEO and Co-founder of Xpoint, Marvin Sanderson revealed: “I am delighted to be announcing such a good partnership, with a dynamic, innovative brand.
“Our technology will not only ensure that Sporttrade will comply with state regulations in all states within which they are active but also will be embedded with Sporttrade’s consumer engagement activities, working in true partnership to unlock the added value Xpoint’s business platforms can generate through the strategic use of customer information.”
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