Philadelphia-based sports betting platform Sporttrade is now active in five states after launching in Virginia this week. Although the Sporttrade app is currently limited to iOS users in the state, the company has revealed plans to launch an Android version later this year. The company received license approval from the Virginia Lottery in September.

“We are incredibly proud to continue our fall 2024 momentum with our launch in the Commonwealth. » said Alex Kane, founder and CEO of Sporttrade. “There is an appetite for premium betting in Virginia, for significantly better prices at higher limits, for instant in-play betting and a sleek, intuitive mobile experience.

“Sporttrade is becoming the home of in-play betting, where players can place and cash out their bets, friction-free, as the odds change,” Kane added. “Thank you to the Virginia Lottery, thank you to our players, partners and investors, and most importantly, I want to thank the Sporttrade employee family.”

Sporttrade recently found a new investor

Sporttrade’s Virginia launch comes just weeks after the company announced the addition of SIG Sports Investments Corp. (SIGSports Analytics) as a strategic investor. At the time, the company said the funding would be dedicated to expanding into new states and investing in Sporttrade’s platform and technology.

“SIGSports Analytics shares the same vision of the regulated sports betting opportunity in the United States: creating a highly differentiated player experience powered by exceptional liquidity,” Kane said earlier this month.

“While the U.S. sports betting industry is still in its early stages, we believe there is an underserved portion of U.S. consumers hungry for a sports betting platform that prioritizes industry-leading pricing and offers unparalleled liquidity by today’s regulated market,” added Joe Grubb, Vice President. from SIGSports Analytics. “We’ve been impressed with what Alex and the entire Sporttrade team have built so far and we can’t wait to start tackling these industry-wide challenges alongside Sporttrade.”

Other notable investors in Sporttrade include Nasdaq, TechStars, Tower Research Ventures, Jump Capital, HRT Ventures, Impression Ventures and Comcast NBCUniversal LIFT Labs.

About Sporttrade

Sporttrade was founded in 2018 to “elevate the sports betting industry” through its proprietary technology and market expertise, led by a team with backgrounds in sports betting and capital markets. Unlike traditional American sports betting, Sporttrade users compete against each other rather than at odds set by the house.

Sporttrade made its US debut in New Jersey in September 2022. The platform is also live and available in Colorado, Iowa and Arizona, where it most recently launched in September 2024. In fact, New Jersey was the only state where the platform was available for almost a year. Sporttrade launched in Colorado in August 2023 and in Iowa in May.

The Sporttrade app has a 4.6/5 star rating on the Apple App Store, where it is available in all five working states. Players must be at least 21 years old. The Google Play app is limited to New Jersey and Arizona.

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