US betting exchange Sporttrade joins IBIA

Sporttrade – which operates in New Jersey – allows customers to trade in and out of positions on sports outcomes, similar to stock trading.

“We are proud to be an IBIA member as it cements our mission of elevating the sports betting industry”, said Alex Kane, founder and CEO of Sporttrade. “We are committed to advancing fair, transparent and efficient open sports betting markets.

“Our membership in the IBIA and our utilisation of industry-leading technology, like Nasdaq’s market surveillance, is critical to achieving that promise.”

Khalid Ali, CEO of the IBIA, said that the addition of Sporttrade is an asset to the IBIA.

“IBIA is delighted to welcome another North American operator into our association,” he said.

“The inclusion of new entries into the US sports betting landscape, such as Sporttrade, marries well with our existing membership, providing a diverse and wide-ranging integrity protection of the burgeoning US sports betting marketplace.”         

In the second quarter of this year, the IBIA was alerted to 88 instances of suspicious betting.