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Beginning sports trading platform – Sporttrade, secures 36-million-dollar funding
The American sports trading startup platform – Sporttrade has been funded greatly by a number of generous finance and gambling names
The company had been running for just over a month when it publicized information about the generous funding by major well-known and well-established figures of the financial and betting industries.
The list of investors included Nasdaq chairman – Tom Wittman, as well as former MGM chief executive – Jim Murren.
The newly established exchange, which self-proclaimed itself the “US’ only sports betting exchange”, as stated on their website, reveals strategic plans to enter New Jersey via platform launch in the region.
Sporttrade has also already secured a collaboration with an established figure in the industry – the Bally’s Group, which serves as quite an impressive step in the former stages of the company’s journey.
Aside from New Jersey, Sporttrade admits to wanting to assure a firm position in the American regulated market by entering other states one by one.
The exchange’s founder and chief executive officer – Alex Kane stated while celebrating the acquisition of the funds:
“How I see our operation is: we aim at elevating sport betting in general via utilizing financial theories and concepts and projecting them onto sports betting, and highly prioritizing our customers.”