Betting exchange operator Smarkets has expanded its offering by launching in Sweden.

Approval from the Swedish Gaming Authority (SGA) in April means Smarkets will become the second licensed betting exchange in the country, available to users at smarkets.com.

The operator is now licensed in a market where online gambling operators reported revenues of SEK14bn ($1.59bn) in 2019, according to figures from the SGA and Swedish Tax Agency.

Sweden is the latest market the London-headquartered company has launched in, after its SBK sportsbook app became available to players in Colorado last month, with plans to expand to Indiana later this year.

Smarkets founder and CEO Jason Trost, said: “We know that customers in Sweden have been eagerly anticipating us going live, so I’m very excited to launch the Smarkets exchange there. 

“I am confident that our market-leading prices and superior product will appeal to Swedish customers. The fact that we own our tech stack is one of the reasons we are able to offer the best pricing in the industry, and I’m really looking forward to growing our user base in Sweden.”