Betway Inks Proposition Wagering Deal with Sports IQ

The established European sports betting brand, Betway, has inked a deal with the betting technology supplier Sports IQ. Under the terms of the agreement, data analyst and oddsmaker Sports IQ’s player prop bets will appear on Betway’s US-facing sportsbook.

Prop bets aka “proposition bets” are wagers made regarding the occurrence or non-occurrence during a game of an event that doesn’t directly influence the game’s outcome. These wagers at Betway US will be available for all major US sports, pre-game or in-game.

Betway as a Global Powerhouse

Sports IQ CEO Omer Dor sees Betway as a global sports betting powerhouse, telling iGaming Business:

“As a leading operator in many countries, Betway is a global powerhouse. They have a well-deserved reputation for providing their millions of customers with an unrivaled betting and gaming service.

“We are humbled by having Sports IQ’s products be a part of that offering. We look forward to working with Betway to power their continued success in North America and globally.”

The marketing and operations director at Betway, Paul Adkins, said that his company had eyed Sports IQ as a player props bet supplier for some time, targeting the company for its reputation for high-quality products and services.

“They were the natural choice when we were looking for a new supplier in this field,” Adkins said. He added Betway looked forward to working closely with the Sports IQ team and continuing to provide “innovative play props to its global customer base in a fair, secure and responsible environment.”

Betway in the US Market

Betway is a relatively new player in the US market, entering the market earlier this year.  In February, Betway secured a brand license agreement with B2B provider Digital Gaming Corporation to provide sports betting and online gambling to customers in the US in as many as ten states. 

In May 2021, Super Group announced that it was planning to go public through a merger with SPAC Sports Entertainment Acquisition Corp., in a deal that valued the new company at $4.75 billion.  As part of the deal, Super Group acquired Digital Gaming Corporation and became the holding company for Betway and Spin. DGC has the exclusive right to use the Betway brand in the United States.

The deal resulted in Betway securing market access in 10 states, including Pennsylvania and New Jersey. 

Betway has an online-only business model.  It currently offers mobile betting in Colorado, Indiana, and Pennsylvania. Last month, Betway entered the New Jersey online gambling market when it rolled out its sportsbook and casino offerings. 

Betway’s Global Partnerships

Betway is a big name around the world. It has more than 60 brand partnerships with many teams, leagues, and sports personalities, including sports franchises such as the Chicago Bulls, Brooklyn Nets, LA Clippers, and Golden State Warriors of the NBA. It also has a partnership agreement with English Premier League football team West Ham United.

In July, it secured its presence in the German betting market by becoming an official betting partner of Eintracht Frankfurt FC. In May 2021, Betway became the official betting partner of the Mercedes Cup tennis tournament.

Sports IQ Deal with FansUnite

Recently, Sports IQ inked a deal with sports betting and online gambling provider FansUnite, similar to the one it signed with Betway. Under the terms of the multiyear agreement, Sports IQ will supply FansUnite with pre-match and in-play player prop bets. Sports IQ has also signed deals with Chalkline, BetClic, and IGT this year. It managed to secure a $7 million seed funding from US investors, focusing on the expanding US sports betting market.