STX’s product launch is much anticipated as it will introduce a brand new form of engaging with sports betting markets in general. The company has already been cleared by the Alcohol and Gaming Commission of Ontario which means that it can launch and operate legally in the province.
Ontario is also the first province in which STX has been offered an official license to operate. Commenting on the company’s upcoming launch, founder Justin Deutsch spoke to Canadian Gaming Business, and said that STX is bringing a product that is tailored to the needs of a new demographic that is interested in trading sports betting markets, and finds this opportunity exciting.
STX is quite different from what other platforms do when it comes to sports betting. The company allows consumers to use its platform to determine the odds of a betting market via the dedicated app. These odds can then be sold as long as there are a consenting buyer and seller. The platform runs 24/7 which means that users can take advantage of these markets in a round-the-clock fashion.
The Ontario launch will be STX’s first launch in North America. The company has also been working hard around the clock to ensure that it will get its products right from the very start.
STX has teamed up with US Integrity, a company that specializes in monitoring services, and it’s going to help the betting exchange to essentially prevent cases of fraud and market manipulation, as well as flag intentional fudging of the numbers by participants in athletic contests.
Betting Exchanges a New Thing
STX is also the de facto first exchange that Ontario is going to see launch on the market. Betting exchanges are not at all that strange as an idea. The first among those companies is Betfair, which popularized the concept. In North America, a prominent player to recently enter the sports betting space is Prophet Exchange, which is currently operating in New Jersey and is determined to continue growing and expanding beyond Garden State.