Sports wagering platform Sporttrade launched in Virginia on Thursday, Oct. 24, marking its fifth state of operation and second launch in a matter of weeks.
The Philadelphia-based sports betting operator’s app is now available for download and use on iOS devices in the Commonwealth and the plan is to launch on Android before the end of 2024.
The Virginia launch comes exactly four weeks to the day that Sporttrade began taking bets in Arizona on Sept. 26 via a partnership with the Quechan Indian tribe of the Fort Yuma Indian Reservation to take over the license vacated by Unibet.
“We are incredibly proud to keep the fall 2024 momentum going with our launch in the Commonwealth,” said founder and CEO Alex Kane. “There is an appetite for premium betting in Virginia, for significantly better prices at higher limits, for instant in-play betting, and a mobile experience that’s sleek and intuitive.”
“Sporttrade is becoming the home of in-game betting, where players are able to place and cash out of bets, frictionlessly, as the probabilities shift. Thank you to the Virginia Lottery, thank you to our players, partners, and investors, and most of all, I want to thank the Sporttrade family of employees.”
Sporttrade has also launched sports betting in Iowa and Colorado since first starting up operations in New Jersey in 2022.
The company calls itself a “differentiated experience” and offers traditional sports betting as well as exchange wagering in some states.
Sporttrade gets SIG cash injection
The launch in Virginia also comes just a few weeks after Sporttrade announced a partnership with strategic investor SIG Sports Investments Corp. in early October. SIG will work with the platform to “enhance Sporttrade’s key markets by providing additional liquidity and improved pricing to high volume markets across a variety of sports and contract types.”
Notably, the companies also said the collaboration will help Sporttrade expand its U.S. presence by entering more states. More markets will follow Virginia, promised Kane.
“SIGSports Analytics shares the same vision for the regulated sports betting opportunity in the U.S.; to create a highly differentiated player experience powered by stellar liquidity,” said Kane.
