Malta-based online gaming company Gaming Innovation Group (GiG) has just signed a strategic partnership with Genius Sports’ Betgenius. The deal will see the pair launch a fully integrated sportsbook and platform solution for operators in regulated markets around the globe.
The deal will unify GiG’s platform technology and Betgenius’ end-to-end live data, risk management, and trading services.
Betgenius will be in charge of the day-to-day management of all sportsbook operations, including providing customizable pricing for pre-match and in-play sports. GiG, on the other hand, will provide its platform and front-end development services.
Both companies’ partnership should be up and running by the end of September. However, it should be noted that both parties have signed a ‘heads of terms’ to supply a platform sportsbook software to a major operator based in Latin America.
The terms of agreement with this operator will be finalized before the end of this month, and the deal will be based on a revenue share model with a three-year minimum contract term.
“Combined we will offer a highly competitive offering to the market, already proven by the signing of a heads of terms with a major operator,” Richard Brown, GiG chief executive, said. “The partnership will also further improve operational efficiency within our Sports segment,” he added.
Jack Davison, Genius Sports Group chief commercial officer, commented saying:
“Not only do our technologies and specialist services dovetail perfectly to create a complete sportsbook platform solution, our values as highly compliant businesses who operate in a responsible way are very much aligned.”