London-traded 888sport, an online sports betting company, has entered a new partnership with Sportradar to enhance its tennis offering.
888sport offers the widest possible range of online tennis betting, including match odds, which are a popular bet on the outcome of a match. Outright betting is on an overall winner, and match betting allows a bettor to place a bet on the outcome of a single match, rather than a tournament.
Pre-match stats on the 888sport website offers odds on head-to-head wins and losses, as well as comprehensive betting stats for tournaments, including rankings, points, and past tournaments. The stats and data are provided by Sportradar.
“We’re thrilled that our partnership with Sportradar will improve our betting for tennis fans around the world,” said Guy Cohen, 888 Holdings senior vice president and head of B2C. “We’re committed to continuous improvements for all our bettors and look forward to gradually rolling this out across our global markets.”
Streamlined Back-end Support for 888Sport
The new deal allows 888sport to use Managed Trading Services Return Guarantee, Sportradar’s data, and risk management solution. This will be gradually included across 888’s global markets.
Sportradar’s Managed Trading Services allows 888sport to streamline its process by outsourcing labor-intensive trading operations to Sportradar. This includes compiling the odds as well as monitoring the liabilities to settle the bets. The Managed Trading Services handles all its operations cost-effectively and fast.
Sportradar can control the 888 sportsbook’s liability and risk management either completely or partially, providing 888sport with the widest range of esports and sports betting odds for both pre-match and live sports betting. To accomplish this, Sportradar gathers all the necessary data needed for risk management, including odds and liability monitoring, market, trading analysis, and customer categorization. It’s all supported by in-house live trading tools and liquidity trading algorithms, allowing the system to immediately weigh all risks. Finally, the system can recommend whether a bet should or should not be accepted. The service also guarantees maximum efficiency and security and for all sports betting operations.
Nick Soye, Sportradar business development manager for Managed Trading Services, said, “888sport is a forward-thinking and innovative brand, with the goal of expansive global growth. It goes without saying that we’re very excited by the privilege of delivering MTS for tennis with such an established sports betting operator. We’re positive our bespoke risk management solution will help the overall growth of 888sport.”
888sport Making Gains in New Jersey
Pronounced “triple-8 sport”, 888sport is a global online sports betting company headquartered in Gibraltar. It was founded as a subsidiary of 888 Holdings plc in 2008, and mostly provides online sports betting in European markets.
The company made its US debut in 2013, when the Nevada Gaming Commission licensed 888 Holdings for online gaming. In 2018, 888sport teamed up with Caesars Atlantic City to offer online sports betting for New Jersey residents.
In September, 888 shares jumped as much as 25% as the gambling company raised its full-year expectations following a 130% profit increase during the pandemic lockdowns.
The company’s spike in revenue came with reported across the board growth, including a 48% increase in casino revenue, climbing to $260 million, and a 56% increase in poker revenue to more than $36 million.
However, 888sport revenue suffered due to the cancellation of major league sports due to the pandemic. Fortunately, sports betting revenue fell by only 1% to $44 million. The company expects sports betting revenue to rebound as a major league sports resume.
888’s US revenue spiked by 90% year-on-year following a robust growth in New Jersey. The company remains “excited by the potential for significant medium-to-long-term opportunities in the US market”.
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