Sporttrade kicked off sports wagering operations in Virginia on October 24, a month after launching in Arizona. This latest launch marks the company's fifth US state entry, confirming its steady growth. Additionally, the platform released its Philadelphia sports betting iOS app on Apple Stores and plans to launch the Android version before 2025.
Just before entering Virginia, Sporttrade launched in Arizona on September 26, exactly four weeks ago. After Unibet left the state, it partnered with the Quechan Indian tribe of the Fort Yuma Indian Reservation in a license takeover. Sporttrade also has a presence in Iowa, Colorado, and New Jersey.
CEO Alex Kane spoke about the more recent Virginia launch
"We are incredibly proud to keep the fall 2024 momentum going with our launch in the Commonwealth. There is an appetite for premium betting in Virginia, for significantly better prices at higher limits, for instant in-play betting, and a mobile experience that's sleek and intuitive."
"Sporttrade is becoming the home of in-game betting, where players are able to place and cash out of bets, frictionlessly, as the probabilities shift. Thank you to the Virginia Lottery, thank you to our players, partners, and investors, and most of all, I want to thank the Sporttrade family of employees."
The sports betting company boasts that it offers a "differentiated experience," and several investors believe in this mantra.
SIG Sports Investment Corp is one of the company's cash muscles and is believed to have majorly financed the Virginia launch. The investment body also assures that it will "enhance Sporttrade's key markets by providing additional liquidity and improved pricing to high volume markets across a variety of sports and contract types."
Kane states that SIG collaboration and other future partnerships will help Sporttrade expand its US presence. "SIGSports Analytics shares the same vision for the regulated sports betting opportunity in the US; to create a highly differentiated player experience powered by stellar liquidity"