Miomni Gaming has announced plans to launch MiOffer, a new exchange betting product, in the US market.
The sports betting supplier Miomni Gaming has announced plans to launch a new exchange product in the US market in 2021.
Miomni’s betting exchange product
The exchange product, MiOffer, has been patent protected since 2012, combines elements of traditional sportsbook management with exchange betting and can be independent of or complementary to existing sportsbooks.
Miomni’s product can be managed either in-house or outsourced to Miomni to oversee.
The supplier claimed its new product is a risk-free proposition which will enable a greater level of market transparency and player confidence which will bring higher levels of sustainable revenue into the gambling environment.
Miomni said that since any unmatched offers on the exchange would automatically be recognised by the software this would be an error-free system that ensures the administrator and ecosystem are in constant communication.
In its announcement, the supplier went on to say that this new product will bring several benefits to operators including full transparency, expanded market access and visibility, integrity in its pricing, increased player confidence and level of engagement, automatic hedging facilities, expanded liquidity and full compliance and regulatory measures.
Betting exchanges in the US
Betting exchanges have yet to establish a foothold in the US gambling market and those exchanges with a presence can only offer their products and services in individual states. Most sportsbook operators offer traditional fixed-odds wagering.
However, as the US betting market continues to grow, interest in sports betting exchanges is beginning to take off.
In August, Twin River Worldwide Holdings, now Bally’s Corporation, granted the second of its three online sports betting skins it was set to gain after acquiring Bally’s Atlantic City to the sports betting exchange start-up Sporttrade.
Sporttrade said it was developing what would become the first regulated betting exchange in the US market. The Launch of Sporttrade’s product is subject to the approval of Twin River’s acquisition of Bally’s Atlantic City, which is set to be finalised in Q1 2021.