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The Colorado sports betting market has been getting a lot of airtime lately and their profile is expected to skyrocket with the number of new providers ready to go live in the state. One such operator, SBK sportsbook is making its US market debut, building on a partnership deal that was forged with Full House Resorts in 2019. The SBK sportsbook app, powered by Smarkets betting exchange launched Thursday and aims to bring something new to the rapidly expanding US legal betting market.
“10 years after the Smarkets exchange went live in the UK, this is another massive landmark for us as a business,” Smarkets founder and CEO Jason Trost said in a release. “It is our mission to upend this old-fashioned industry, so I’m excited for Americans to enjoy some of the best odds in the world, as well as the carefully crafted customer experience we provide compared to the big sportsbooks.”
What is the SBK Angle?
English-based SBK sportsbook is viewed as a modern take on sports betting. It is a more comprehensive betting platform than most sportsbooks with in-depth analysis of betting trends and graphs as well as a unique way of determining betting odds which are generated by their proprietary technology. As a betting exchange, SBK takes a commission from each winning bet and promotes more peer-to-peer betting interaction. In turn, betting exchange prices are often more attractive than traditional sportsbooks as is the social engagement factor that comes along with the platform.
Competitive odds are probably the most user-directed perk of the SBK sportsbook. Because of the commission-structure, odds are not tilted in any way for the House. It is something that Smarkets hopes give them an edge in a loaded Colorado market.
The app is stats-heavy in order to give seasoned and beginner bettors a lot to mull before placing their bet. SBK’s strong social media angle also allows bettors to chat with similar-minded sports bettors about thoughts and results of their future and present wagers.
Colorado… then what?
Colorado acted as the SBK sportsbook jumping off point with the aim of expanding its US presence. SBK represents just the seventh mobile betting operator in Colorado which has been live for just over 1 month and has already generated north of $25 million in gross, unaudited revenue, despite the limited sports calendar.
A deal is already in place for the London-based sportsbook to expand into Indiana – one of the other top bet-friendly states in the US. Colorado’s soft launch could be considered a test for impending future expansion into the rapidly expanding US legal sports betting scene.
“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,” CEO Jason Trost. 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.”
Smarkets is in the process of entering a Colorado market that will eventually see up to 35 mobile sportsbooks in operation. Standing out is obviously crucial in the crowded Colorado field.
Smarkets currently has zero name-recognition so far in the US market and is about to run into the biggest names in the US game meaning that the company is going to have to throw everything behind their efforts in Colorado to gain some US industry credibility. Smarkets has signaled they are up for the challenge
At the end of the day, there appears to be plenty to go around in Colorado where an estimated $6 billion in bets annually is expected to be taken in. Indiana, SBK sportsbook’s next home is an exciting market as well, proving that the company has done their homework before debuting in the US.
Armed with a slightly different way of doing business, all eyes will be on SBK sportsbook and the sports betting exchange model as things heat up not only in Colorado but the rest of the United States.