LONDON & LAS VEGAS, May 19, 2022--(BUSINESS WIRE)--Smarkets, one of the biggest betting exchange platforms in the world, and Affinity Interactive, an omni-channel gaming industry leader, today announced a new agreement for sports betting market access in the state of Iowa.
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Smarkets will launch its SBK sportsbook app, which will be unique in the Iowa market, as it draws prices from the Smarkets betting exchange, one of the world’s leading platforms for betting and trading on sports, politics and current affairs.
Smarkets expects to launch SBK in Iowa later this year. In 2019, Smarkets signed an agreement with Full House Resorts, and the SBK app has been live in Colorado since June 2020, with an additional launch planned in Indiana prior to SBK’s introduction in Iowa.
Jason Trost, CEO/Founder of Smarkets, said, "I’m incredibly excited about this deal. The potential for SBK is huge in America, so adding our third licensed state is key as we move to our next stage of growth.
"It is particularly meaningful for me as my family is from Iowa, and so I have always wanted the opportunity to launch there. I can’t wait for bettors in Iowa to enjoy SBK’s market-leading odds."
Mary Beth Higgins, CEO of Affinity Interactive, said, "We are pleased to help Smarkets add SBK to another U.S. marketplace, and look forward to welcoming them to Iowa."
The state of Iowa legalized sports betting in May 2019, and wagers totaled more than $2 billion in 2021.
About Smarkets and SBK
Founded in 2008, Smarkets is an award-winning, product-focused, sports betting company headquartered in London, with offices in Los Angeles and Malta.
It was founded by a team of finance and software engineering professionals and is backed by Passion Capital, Deutsche Telekom, and Susquehanna Growth Equity.
Smarkets operates two main products - the Smarkets exchange, a sophisticated betting exchange platform, and SBK, a sportsbook app that delivers industry-disrupting odds by drawing prices from the exchange and presenting them in a sleek, sportsbook interface.
The Smarkets platform processes billions of dollars of traded volume each year for customers across the company's licensed and regulated markets.
About Affinity Interactive
Affinity Interactive is an omni-channel gaming industry leader with an expanded suite of casino and online gaming offerings. Combining leading regional casinos in Nevada, Missouri and Iowa with advanced technology, digital and media platforms, and an online betting presence, Affinity Interactive has nearly one million combined customers and is positioned to capitalize on the continued momentum in sports betting and iGaming globally. Affinity Interactive companies also include: the iconic Daily Racing Form, "America's Turf Authority since 1894" for horse racing and sports enthusiasts throughout North America; DRF Bets™, one of America’s fastest-growing online and mobile wagering platforms; and DRF Sports, which provides fans with exclusive up-to-date sports betting stats, insights and analysis on all major U.S. sports and leagues. For more information, please visit www.affinityinteractive.com, www.DRF.com, bets.DRF.com and www.DRF.com/sports.
Affinity Interactive is a portfolio company of Z Capital Partners, L.L.C., the private equity arm of Z Capital Group, L.L.C. ("ZCG") (www.zcg.com), a leading private markets asset manager.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220518006143/en/
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