The Sporting Index Group has announced its acquisition of Touchbet, the algorithmic sports trading and risk management firm.
Based in Sweden and Malta, the industry provider will enhance the risk management capabilities of the Sporting Index Group’s B2B division, Sporting Solutions.
Founded in 2006, Touchbet manages risk on an average yearly betting volume of approximately €4bn, and maintains all of its core systems in-house, keeping it consistent with the Sporting Index Group’s ethos of building and owning all of its own technology.
Simon Trim, CEO of the Sporting Index Group, said: “Touchbet has extensive experience of providing highly automated risk management services, both for lotteries that offer sports betting and for private operators in regulated jurisdictions.
“This acquisition strengthens the group’s competitive advantage in trading and risk management and builds on the excellent momentum and exciting growth we have achieved over the past 12 months.”
Ralfh Backlin, CEO of Touchbet, added: “We believe that combining the capability of Touchbet further improves Sporting Solutions’ market-leading proposition. Together we provide an end-to-end sports betting solution for the B2B market that is unsurpassed in terms of breadth, depth and expertise.”