Going “all-in” is a common phrase both in the poker world and in the business world. Per a press release from Scientific Games – a leading provider of iGaming and sports betting technology – they have purchased sportsbook technology company SportCast.
The terms of the purchase at this point are unknown but this is poised to change the landscape of how Scientific Games (NSDQ: SGMS) operates. At midday on Wednesday, Scientific Games was up 3% and trading at $68.68 per share.
Scientific Games’ Executive Vice President for Sports, Keith O’Loughlin, expressed his excitement for their shiny new acquisition.
O’Loughlin said, “For sports fans, the ability to define the story of game, bet on it and watch it live has become a thrilling way to engage in the action. SportCast’s technology and platforms will help us fuel the next wave of our data-driven, global sports expansion. The award-winning BetBuilder product is just the first of many innovative products that can be powered by the underlying platform for the benefit of our customers and we’re thrilled to be able to roll these out.”
SportCast is famously known for its innovative “Bet-Builder” feature as well as excellent live and in-play offerings, two areas SG is particularly targeting. SportCast has plenty of high-profile clients using their service including PointsBet and BetMGM Sportsbooks.
Same-Game Parlays And In-Play Betting The Main Focus For Scientific Games
Many sportsbooks offer same-game parlays and many do not. The important fact is that eventually, everyone will offer this in some form. Realizing that, Scientific Games is purchasing a known commodity in the industry with plenty of experience operating in this sector.
Moreover, a large client of Scientific Games is Bally’s. Bally’s has been in a serious period of growth over the past year, including the launch of their sportsbook Bally Bets in Colorado. It is reasonable to expect SportCast and Bally Bets to work together in some capacity as they ramp up their sports betting product.
Managing Director of SportCast, Ryan Coombs said, “We set out to re-imagine the sportsbook of the future – smart, high-margin and simple for operators – whilst offering unparalleled next-generation experiences for players. With Scientific Games’ firepower, we’re set to move faster and drive deeper innovation on our journey to power the future of sports betting.”
Currently, SportCast’s technology can handle over 12,000 bets per second across most major sports. The added firepower will help SportCast as they look to create more innovative products similar to their award-winning bet-builder platform.