Sporttrade Secures Strategic Investment from SIG Sports Investments Corp.

09.10.2024

Sporttrade, the Philadelphia based sports betting operator, has reached a major milestone in its growth plan with additional capital and expertise from SIG Sports Investments Corp. This will accelerate Sporttrade’s growth and product in key markets.

Strategic Investment to Increase Market Liquidity

Since 2023 SIG Sports Investments Corp. has invested in Sporttrade twice, providing the company with significant growth capital.

A key part of this partnership is SIGSports Analytics will help Sporttrade’s market operations by providing more liquidity and better pricing for high volume sports betting markets.

In the next few months the partnership will incrementally add product to Sporttrade with a long term goal of creating a very liquid sports betting platform with competitive pricing.

Growth and Technology

The capital from SIG Sports Investments Corp. will be used for customer acquisition, state expansion and product investment into Sporttrade’s platform and tech.

Growing Footprint in the US Market

Sporttrade currently offers its sports betting services in Arizona, Colorado, Iowa, and New Jersey, with plans to launch in Virginia by the end of October.

This marks a strategic expansion as the company looks to increase its presence across the United States in the coming years.

Commenting on the announcement, Sporttrade’s Founder and CEO, Alex Kane, highlighted the importance of the partnership with SIGSports Analytics, noting, “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.”

Addressing Industry Challenges with Innovative Pricing

Joe Grubb, Vice President of SIGSports Analytics, emphasized the potential of Sporttrade to address gaps in the current US sports betting market.

“With the US sports betting industry still in its early stages, we believe there is an underserved portion of US consumers hungry for a sports betting platform that prioritizes cutting-edge pricing and offers liquidity unmatched by the current regulated market,” Grubb stated.

The partnership with Sporttrade aims to address these industry-wide challenges by delivering a more competitive and liquid platform for bettors.