Carousel Group, then an iGaming start-up, announced the launch of two new sites almost two years ago to help it establish a foothold in the industry. Sportsbetting.com and racebook.com were introduced to the gambling industry and were sponsored by a licence to service customers in Europe and Latin America from the Malta Gaming Authority (MGA).
A few days ago, the company announced via a blog post on its website that it had obtained a B2C licence from the MGA, which is expected to allow for higher growth, especially in the US market for sports gambling.
This past September, the sportsbetting.com website made its way into Colorado, ideally timed to take advantage of the new gambling laws only approved earlier this month by the state. The Colorado Division of Gaming licence made that entry possible, and its presence in the state, as well as the new MGA licence, are expected to give Carousel better opportunities for continued expansion in the US and Canada.
The company also has its sights on four other states in the US and that number could theoretically grow, with more than half of the states predicted to have legalised sports gambling within three years.
Daniel Graetzer, CEO of Carousel, said: “We’re thrilled about our U.S. expansion and we look forward to bringing SportsBetting.com to more markets. As our brands become household names in the gaming space, we will make a positive and everlasting impression on the global gaming community.”
Canada has the ability to provide a serious boost to the sector, given that some laws are updated. The Ontario Lottery and Gaming Corporation currently owns the online gaming space in Ontario, but the provincial government does not want to maintain the monopoly in place.
Plans are under way to open up the online gambling industry to private companies as long as the measure is approved and to allow the Ontario Alcohol and Gaming Commission to start licencing operators.
Graetzer, who also claimed that the MGA licence would provide a ‘tax-efficient structure’ for the business to grow into other European markets, added: “Receiving our license from the MGA is a major achievement for our company and a catalyst for our future goals. After two years of product development and building our team of more than 100 employees, SportsBetting.com is now live in the U.S. and we could not be more excited to compete.
“We have built a proprietary and hyper-personalised sportsbook that gives bettors the content they want, timely betting information and market-leading pricing and limits.”