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Svenska Spel launches new DraftKings-powered sportsbook

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Swedish state-owned operator Svenska Spel has launched its new online sportsbook, powered by the B2B arm of daily fantasy and sports betting operator and supplier DraftKings, which was formerly known as SBTech..
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Svenska Spel said its new sportsbook allows it to offer customers an expanded range of sports betting, a better customer experience and new features including betbuilder and cash out.

It said the new sportsbook brought a more competitive range of sports odds, better functionality and a more complete gaming experience. The local offer will continue to be handled by Svenska Spel Sport & Casino’s staff.

In September 2019, the operator signed an agreement with SBTech, which was subsequently merged with DraftKings in April 2020, for the provision of a new sportsbook. Since then, it said, work has been done to implement and complete the new sportsbook platform.

“It feels incredibly good to finally be able to offer our customers a new sportsbook with all that it entails,” said Dan Korhonen, head of product sports betting & sportsbook integrity at Svenska Spel Sport & Casino.

“It is very fun to now be able to offer our players new features such as betbuilder and cash out, together with a wider range of sports betting. We will continue to offer competitive odds together with fixed bet limits that apply to all customers.”

Shay Berka, chief international officer of DraftKings, added: “We are pleased to announce that we are now delivering Svenska Spel Sport & Casino’s new sports book with our award-winning B2B solution, a unique and outstanding gaming experience with industry-leading coverage of both local and international markets.”

“Svenska Spel Sport & Casino is the leading operator in the Swedish market and together we will improve the gaming experience for players throughout Sweden”

Results for Q3 2020 published in October showed that Svenska Spel Sport & Casino, despite being affected by Sweden’s SEK5,000 (£435/€494/$594) weekly spending cap, saw revenue increase by 6.5% to SEK490m.

In November, DraftKings raised its full year 2020 guidance after revenue grew strongly in the third quarter.

On a like-for-like basis, revenue for the three months to 30 September increased 98.2% year-on-year to $132.8m , though if SBTech’s revenue was factored into the previous year’s figures, revenue was up 42.3%.

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