Colorado bettors can expect a fresh opportunity to place wagers on sports events, including table tennis, in the early months of 2022. Sporttrade Colorado is making its way into the market, offering a unique alternative to the existing options for sports betting in CO.
Thanks to its innovative design and substantial funding, Sporttrade has the potential to become more than just a novelty for sports fans. The solution essentially functions as a trade, similar to how customers frequently purchase stock in publicly traded companies.
Sporttrade Colorado is preparing to launch in 2022.
On Wednesday, the acquisition of Momentum Sports and Entertainment, Inc. by Sporttrade was officially announced. The headquarters of this company were located in Castle Pines. Momentum held a CO sports betting license, thanks to its partnership with GF Gaming, the operator of Easy Street Casino in Central City.
Despite Sporttrade now holding the passport, the business will still be required to apply for regulatory approval due to the change in ownership. If the approval is obtained in a timely manner, the platform is expected to be up and running in the first half of the following year.
According to Sportstrade CEO, Alex Kane, our team aims to expand our presence across the United States while enhancing our sports betting exchange. This will enable us to provide a secure, transparent, and technologically advanced platform for wagering to our dedicated user base at Sportstrade.
Sporttrade will soon have its app launch in Colorado, marking its second active market. Additionally, the company is aiming to launch in New Jersey before the end of this year. The crucial factor enabling these plans is a $36 million investment from various individuals and entities. These funds will also be beneficial for the operations in Colorado.
Funding in client education and awareness
Nasdaq Ventures and former CEO of MGM Resorts, Jim Murren, will be providing significant funding for advertising. Apart from simply making bookmakers aware of the brand’s presence, there could be a slight learning curve involved.
Sporttrade is a unique sports betting marketplace that stands apart from the traditional sportsbooks Coloradans are familiar with. In fact, it shares more similarities with stock trading software such as Acorns and Robinhood.
The essence lies in the bets themselves, rather than simply wagering on the outcome of a sports event. The concept involves investing in wagers that are likely to succeed, similar to purchasing stocks in a property that appreciates in value as you invest in it.
In light of this, market analysis remains unchanged, as you need to succeed in the appropriate bet(s) to generate profit. The key difference lies in the fact that, in this scenario, your opponent is none other than yourself, rather than wagering against the house.
Additionally, this scheme offers the advantage of allowing certain bettors to swiftly and effortlessly acquire a position, which is a noteworthy benefit they can opt for. However, this may involve accepting a decrease. Nonetheless, it may also limit their responsibility. Just like with stocks, timing will play a crucial role.
It remains to be seen whether CO sporting punters are finding Sporttrade enjoyable. However, that day is expected to commence sometime in the coming year.
