Online Betting Firm Sportech Launches in Connecticut

Published Sunday, March 10, 2013 -

In 2008, Sportech signed a strategic partnership with 888 Holdings, and has been developing its online gambling strategy in the USA. The strategic distribution and marketing partnership contract between 888 Holdings and Sportech actively assists in the marketing of all of Sportech's products, and provides the company with a turnkey online gaming operation.

A recent news report revealed that Sportech will start taking online bets on horseracing in Connecticut in coming weeks and recognizes the potential growth available in America after laws regarding online gambling have become more open and inclusive. The U.K. company has an exclusive licence to provide greyhound and horse betting in Connecticut. It will soon be able to offer online gambling to the four million people in the State to complement its existing betting shops and telephone offerings.

Reuters quoted Ian Penrose, the Chief Executive Officer of Sportech recently as saying, “We will launch online within the next eight weeks,” Penrose continued, “If we looked at what has happened with online gambling in Britain, we would expect some really dramatic growth over the next three to five years,” Sportech has been leaning towards the US market for some time now and has turned what was primarily a business based in Britain to one focused on the emerging online gambling market in America. “As the North American gaming market starts to regulate, we are already there on the ground with offices and 700 employees,” The firm says that half of its revenue is now garnered from the North American market, Penrose contends.

Sportech, which also runs traditional football gambling pools , reporting a 1 percent rise in earnings before interest, tax, depreciation and amortisation to 26.4 million pounds in 2012, keeping it in line with the firm’s financial forecasts. The delivery of these services will benefit Sportech in the long run as they become the trusted choice for online betting in Connecticut and possibly other US jurisdictions.

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