PointsBet Will Acquire Banach Technology To Power Live, In-Play Wagering

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Leading sportsbook company PointsBet is acquiring Banach Technology Limited to enhance its live, in-play wagering products. PointsBet believes that the $43 million deal will better position the company in the US market, where live betting is expected to become increasingly popular.

The acquisition comes as PointsBet continues to grow across the US. The sports betting platform currently holds a license in Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey.

“As legalization to approve sport betting accelerates across the US, it has become clear that the in-play opportunity will be very significant,” said PointsBet Group CEO and Managing Director Sam Swanell. “And those with the best depth and breadth of product will win.”

He added, “In Banach, PointsBet has found a like-minded team of technologists, and the acquisition is a preferable approach to developing our in-play capabilities organically, given it allows us to dramatically ramp up our speed to market while still allowing us to own market-leading technology and continue to control our destiny.”

More About Live, In-Play Wagering At PointsBet And Elsewhere

In-play wagering is placing bets on an in-progress sporting event. Examples of in-play wagers include which team will score next or whether the team in possession will make a field goal attempt.

As such, the odds on in-play wagers are updated up-to-the-second as the game progresses. That pace requires more advanced and powerful technology than pre-match wagers, which lock in at the opening whistle.

Most online sportsbooks in the US currently offer in-play wagering, including PointsBet. However, live betting is usually limited to high-profile events, and existing technology across most sportsbooks can be shaky.

Some estimates predict that in-play wagering will make up 75% of all sports betting in the US. If true, sportsbooks will be increasingly expected to offer a reliable live betting experience across all events.

PointsBet’s acquisition of Banach Technology is to get out ahead of this expected demand. It would not come as a surprise to most sports betting reporters if more companies followed suit.

About the Author

Mike Epifani

Mike Epifani is an experienced online gambling writer who specializes in online casinos and sports betting sites. From the nuances of bonus offers to winning strategies, his insights have helped countless bettors keep more of their money while having fun and staying safe.

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