Sporttrade, a Philadelphia-based sports betting technology company, has become a member of the International Betting Integrity Association (IBIA). Sporttrade is the first and only sports trading marketplace in the United States. Eligible customers in New Jersey can use Sporttrade to trade in and out of positions on sports outcomes much like they would trade stocks, options or cryptocurrencies. Its decision to join IBIA sees Sporttrade join many of the leading regulated sports betting operators in the world, with IBIA’s members accounting for over $137bn (€115bn) in global betting handle per annum and nearly 50% of all regulated commercial online betting activity.

“We are proud to be an IBIA member as it cements our mission of elevating the sports betting industry”, said Alex Kane, Founder and CEO of Sporttrade. “We are committed to advancing fair, transparent, and efficient open sports betting markets. Our membership in the IBIA and our utilization of industry-leading technology, like Nasdaq’s market surveillance, is critical to achieving that promise.”

Khalid Ali, CEO of IBIA, said: “IBIA is delighted to welcome another North American operator into our association. Sporttrade extends IBIA’s integrity coverage of the U.S. licensed market, with the association’s members already accounting for around 70% of all regulated online revenue. The inclusion of new entries into the U.S. sports betting landscape, such as Sporttrade, marries well with our existing membership, providing a diverse and wide-ranging integrity protection of the burgeoning U.S. sports betting marketplace.”

The International Betting Integrity Association is the leading global voice on integrity for the licensed betting industry. It is run by operators for operators, protecting its members from corruption through collective action. Its monitoring and alert platform is a highly effective anti-corruption tool that detects and reports suspicious activity on its members’ betting markets. The association has longstanding information-sharing partnerships with leading sports and gambling regulators to utilise its data and prosecute corruption. It represents the sector at high-level policy discussion forums such as the IOC, UN, Council of Europe, and European Commission.

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Xpoint, the leading geolocation and compliance technology company specializing in U.S. sports betting and iGaming markets, has announced a partnership with Sporttrade, America’s most dynamic sports trading platform.

The partnership will see Xpoint’s geolocation technology embedded within all Sporttrade digital platforms, ensuring all transactions made by Sporttrade customers adhere strictly to state and federal regulations. Xpoint will also be working with Sporttrade to utilize customer data generated by the innovative Xpoint platform to drive improved customer engagement and enhanced user experiences for Sporttrade customers.

“We are thrilled to be partnered with another firm challenging incumbents in the sports gaming space,” said Alex Kane, Founder and CEO of Sporttrade. “As a startup, Xpoint has been truly focused on partnering with Sporttrade for the long-term success of our business by strategically aligning themselves with us.”

“I am delighted to be announcing such a good partnership, with a dynamic, innovative brand,” added Marvin Sanderson, CEO and co-founder of Xpoint. “Our technology will not only ensure that Sporttrade will comply with state regulations in all states within which they are active, but also will be embedded with Sporttrade’s consumer engagement activities, working in true partnership to unlock the added value Xpoint’s business platforms can generate through strategic use of customer information.”

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Xpoint, founded in 2019, brings innovative, partner-focused solutions to the established geo-compliance marketplace, facilitating safe and compliant betting and gaming for its partners, as well as providing enhanced marketing benefits for its partners that can be used across multiple business functions.

Nasdaq and Sporttrade, a Philadelphia-based fintech, sports betting company, announced today that Sporttrade will leverage Nasdaq technology for surveillance of its sports betting and trading platform. Founded in 2018, Sporttrade was built to advance the sports betting industry by utilizing exchange technology and processes to enhance and democratize the traditional betting experience. Sporttrade’s open trading marketplace will allow participants to trade sporting events the same way they trade stocks, with tighter spreads, more liquidity, and unique features like “always on” in-play trading, and the ability to trade in and out of bets at any time.

In utilizing Nasdaq’s SaaS-deployed market surveillance technology, Sporttrade will be able to monitor trading patterns and protect its user base by identifying irregularities and unusual trading behavior. Through interactive visualization, complex data can be distilled into a single snapshot and provide a full view of the order book, enabling Sporttrade to transparently and continuously collaborate with regulators.

“Today marks another important step in fulfilling our mission to elevate the sports betting industry with proven capital markets technology that will monitor our platform and protect our user base,” said Alex Kane, Founder and CEO of Sporttrade. “Adopting Nasdaq’s industry-leading market surveillance technology is essential in Sporttrade’s promise to our participants – to advance fair, transparent, and efficient open sports betting markets.”

“Through this agreement, Sporttrade will apply exchange-grade technology in their efforts to uphold integrity in the rapidly evolving sports betting industry,” said Tony Sio, Head of Market Regulatory Technology, Nasdaq. “Our expertise in developing and delivering surveillance technology for exchanges, regulators and new types of marketplaces outside of the traditional capital markets will support and advance Sporttrade’s efforts in building a fair, transparent and safe marketplace with robust surveillance processes.”

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“We are encouraged by Sporttrade’s commitment to corporate social responsibility, leading to more informed customers,” said Keith Whyte, Executive Director of the National Council on Problem Gambling. “By providing customers with win/loss visualizations, promoting limits and leveraging Nasdaq’s market surveillance technology, Sporttrade is taking responsible gaming seriously and putting it at the forefront of its mission.”

Nasdaq’s end-to-end market technology powers more than 2,300 companies in 50 countries, spanning the world’s financial industry, including capital markets infrastructure operators, market participants, banks, and regulators.

Sporttrade is due to launch its native trading app beginning in New Jersey in Q4 of 2021, with additional states to follow in 2022 and beyond.