STX Gears Up for Ontario Betting Exchange Launch
STX is preparing to launch Ontario’s first betting exchange, allowing sports fans and bettors to trade sports betting markets in real time.
There is growing hype around the product launch, and the company has already received permission from the Alcohol and Gaming Commission in Ontario, which means it will be legal for those in the province.
Speaking recently, Justin Deutsch, STX’s founder, explained that the betting exchange will be tailored to the needs of a new demographic. The platform is fairly distinct from other sports betting platforms. Customers will be able to determine the odds of a market through the app. They can then sell these odds as long as there are interested buyers and sellers. It will be available around the clock, so members can trade whenever they wish.
Not only will STX be Ontario’s first betting exchange, but it will be the company’s first launch in North America, and a great deal of effort has gone into ensuring things go smoothly. STX has been working with US Integrity, a company that offers monitoring services, in order to ensure that the betting exchange is not used for fraud or market manipulation.
While STX may be the first betting exchange to arrive in Ontario, it is not a new concept. Betfair was the first to popularize the concept, while in North America, Prophet Exchange has recently enjoyed a promising launch in New Jersey and is already planning further expansion.
What Role Would This Play for Ontario Gamblers?
Ontario gamblers would have a new platform to engage in sports betting. The betting exchange model allows users to trade sports betting markets in real time, providing an alternative to traditional sportsbooks. This means that customers can not only place bets but also buy and sell odds, providing a unique and interactive betting experience.
Overall, the launch of STX's betting exchange in Ontario provides a new and exciting avenue for sports betting enthusiasts in the province, offering unique features and opportunities for trading and interaction within the platform.