Smarkets seals US entry with SBK sportsbook launch in Colorado
London-based exchange operator enters US sports betting fray with soft launch of sportsbook app
Smarkets has gone live in the US sports betting market with the launch of its SBK sportsbook app in Colorado.
The initial launch sees the London-based exchange operator debut its platform in the US for the first time after signing a multi-million-dollar partnership with Full House Resorts in September 2019.
Sports bettors in Colorado can download the SBK app, which was first launched in the UK last year, from the iOS store or using the getSBK.com domain on Android. The app draws its prices from Smarkets’ flagship betting exchange.
Smarkets has initially opted for a soft launch to collect user feedback ahead of a bigger acquisition push later in 2020, when more sports resume following the Covid-19 pandemic.
Smarkets CEO Jason Trost
Smarkets CEO and founder Jason Trost hailed a “massive landmark” for the firm as SBK prepares to go live in the US, 10 years after launching its exchange platform in the UK.
“It is our mission to upend this old-fashioned industry so I’m excited for Americans to enjoy some of the best odds in the world, as well as the carefully crafted customer experience we provide compared to the big sportsbooks,” said Trost.
By entering Colorado, Smarkets joins DraftKings, FanDuel, BetRivers, Fox Bet, BetMGM and BetMonach in what is shaping up to be an extremely competitive state, with the number of online sportsbooks expected to reach between 15 and 20 once the market reaches full maturity.
As part of the deal with Full House, Smarkets will also offer betting in Indiana and is working towards a launch in that state shortly.
The operator is also poised to enter the Swedish online gaming market, having received licence approval from the Swedish Gambling Authority.