Global sports betting and interactive gaming company Newgioco announced yesterday (17 June) the integration of Oddsmatcher, a new trading system for sports betting, into its Elys Gameboard betting platform.
Through its wholly owned subsidiary Multigioco, Newgioco has entered into an exclusive agreement with developer Guadagno Matematico (GM, translated as ‘Mathematical Gain’).
The deal allows Newgioco to integrate GM’s proprietary Oddsmatcher Matched Betting trading system, which is expected to drive customer engagement and activations. The system may also offer players a competitive advantage, it added.
The service is expected to go live on 30 June through Newgioco's network in Italy, in line with the Italian gaming regulator, Agenzia Delle Monopoli’s guidelines.
“We are very pleased to have integrated GM’s innovative Oddsmatcher trading system through our Newgioco network in Italy,” said Alessandro Marcelli, Newgioco’s vice preisdent of operations.
“GM’s revolutionary system matches odds and bonuses that could provide our customers a competitive advantage by scanning multiple networks and betting exchanges for price efficiency. As we develop the integration of Oddsmatcher within Italy, we believe that we could improve sportsbook margins on our world-class Elys platform and increase customer engagement and activations as we expand internationally.”
Newgioco’s chief executive officer, Michele Ciavarella added: “The integration of Oddsmatcher is another key step in our plan to develop Newgioco into one of the most advanced, technology-driven fixed-odds sports betting providers in the world,”
“Our Italian operations continue to represent an important proving ground to innovate and apply ground-breaking technologies that work seamlessly for sports betting operators in real-money, regulated markets and that could be applied to our expansion plans in the US market.”
Newgioco has been listed on the Nasdaq since January this year, and established Elys Gameboard Technologies earlier this month with a view to expanding its business into the US. The company continues its global expansion, with deals also struck and licenses secured this year in Latin American and African markets.