As part of a strategic partnership that will see the duo distribute SportsTraders’ new betting product, TeamBets, SportsTraders has teamed up with Playtech BGT Sports (PBS).
The new product will be introduced across the proprietary platform of PBS, allowing users to bet on market trends rather than individual events and trade them.
PBS chief executive Armin Sageder commented: “We are very excited about the launch of TeamBets with SportsTraders. This is an incredible innovative product that will add a significant USP to the PBS digital offering.
“New client acquisition tools especially for the FAN community are increasingly important going forward – and TeamBets is a major step into this new future. A great partnership and cooperation between both companies has made this new product a reality; that I am sure will add a new dimension to the way sports betting is being conducted from now on.”
TeamBets will be presented in the form of a seasonal real-time graph for each team, while at the beginning of each season users will also get access to a fixed return table.
Real-time price is determined through a proprietary pricing engine that uses market data and a SportsTrader algorithm to calculate the performance vs. market expectations of the team.
Currently, TeamBets offers 5 major soccer leagues (English, German, Spanish, Italian, and Austrian) and will be offering TeamBets for Euro 2020 teams. For the season 2020-2021 more soccer leagues are currently under development.
The pair indicated that future product improvements will include adding more sports, as well as the possibility of betting against team performance, setting personal risk and reward rates, and placing pre-match and in-play bets via the SportsTraders platform.
SportsTraders CEO Hemi Algranaty has added: “The strong partnership we have with a global leader such as PBS gives us a huge boost and allows us to focus on developing our sports trading product suite. More soccer leagues, competitions and tournaments, other sports types and sports assets to trade on, as well as new, unique sports trading features are all part of our exciting pipeline.
“With the support of PBS, the SportsTraders product suite can become a major new product vertical for the global sportsbetting world, and we’re delighted to be working with them.”