Sportech has announced the signing of a strategic technology services agreement with high-tech solutions provider Longitude for the exclusive distribution of Longitude single pool products in Europe. The deal also features the distribution of single pool products for internet betting in India with initial focus on football.
A Sportech spokesman reveled that the Longitude technology, which was modified for sports pool betting and developed in accordance with the Indian gambling laws, would provide great benefits to the company.
Single pools enable the building of liquidity by offering multiple bet types based on a single pool and generate larger, deeper and more liquid betting pools on football and cricket, the company spokesman told the Indian gambling news.
The two companies released a joint statement saying: “The combination of Sportech’s industry expertise and Longitude’s groundbreaking technology, which will be available primarily in tablet, mobile and online formats, is expected to develop an attractive offering to existing customers, whilst fostering a dynamic new suite of products to create a new and younger customer base.”
Sportech CEO Ian Penrose commented on the news: “The constant evolution of the customer experience and development of new products is a priority for management, and working with Longitude will add considerably to our digital products and technical capabilities, initially focused on football.”
Tom Ascher, managing director for Longitude added: “We are delighted to have been selected by Sportech to collaborate on our first deployment of Longitude’s single pool technology for sports pool betting.”
Sportech is present in over 30 countries and processes more than $13 billion in bets every year. Its shares have risen 55 percent since the beginning of the year.
Longitude is a subsidiary of the leading US options exchange International Securities Exchange, and is a member of Deutsche Boerse.