Newgioco Group, Inc. (“Newgioco” or the “Company”) (Nasdaq: NWGI), a global sports betting and interactive gaming technology company providing fully integrated, omni-channel sports betting software solutions, is pleased to announce the integration of “Oddsmatcher Matched Betting” (“Oddsmatcher”), an innovative trading system for sports betting on its Elys Gameboard betting platform.
The Company, through its wholly owned subsidiary Multigioco Srl., has entered into an exclusive agreement with Guadagno Matematico Srl (“GM”, translated as Mathematical Gain) to integrate GM’s proprietary Oddsmatcher Matched Betting trading system which may offer Newgioco players a competitive advantage and is expected to drive customer engagement and activations. The service, which is regulated by the Italian ADM gaming regulator, is expected to go live on June 30, 2020 through the www.newgioco.it network in Italy.
“We are very pleased to have integrated GM’s innovative Oddsmatcher trading system through our www.newgioco.it network in Italy,” commented Alessandro Marcelli, Newgioco’s VP of Operations. “GM’s revolutionary system matches odds and bonuses that could provide our customers a competitive advantage by scanning multiple networks and betting exchanges for price efficiency. As we develop the integration of Oddsmatcher within Italy, we believe that we could improve sportsbook margins on our world-class Elys platform and increase customer engagement and activations as we expand internationally.”
“The integration of Oddsmatcher is another key step in our plan to develop Newgioco into one of the most advanced, technology-driven fixed-odds sports betting providers in the world,” stated Michele Ciavarella, Newgioco’s Chief Executive Officer. “Our Italian operations continue to represent an important proving ground to innovate and apply ground-breaking technologies that work seamlessly for sports betting operators in real-money, regulated markets and that could be applied to our expansion plans in the US market.”