Matchbook CEO: US is perfectly suited for exchange betting
EGR understands the operator will offer “stripped down” versions of the exchange to make it more accessible to recreational customers
The US market is ideally suited for the expansion of exchange betting, according to Matchbook CEO Mark Brosnan.
Speaking to EGR North America this week, Brosnan said the exchange operator was keeping a “close eye” on the market, and assessing potential entry points.
“The one things that’s clear is it’s a potentially very exciting market for number of reasons,” Brosnan said.
“Firstly a lot of people manage their own pension fund and trade stocks and shares, so there isn’t a resistance to trading like you sometimes see in the UK.
“Secondly there’s no inertia around an incumbent product because there are no existing sportsbooks, and generally US consumers adopt best in class product and technologies – that’s true across every industry.
“Finally, the whole peer-to-peer concept has been very big in the US. As I see it, if you’re starting a fresh industry, sportsbook vs exchange, and the exchange is easy to use, the exchange wins hands down every time.
Several US bettors have called for peer-to-peer betting options in the wake of frustration with staking limits and restrictions.
The UK betting exchange market generated around £170m in revenue for the year to March 2017, good for around 10% of the online betting market.
You know what solves the problem of "sharps" being uneconomical for sportsbooks? Betting exchanges.
— Rufus Peabody (@RufusPeabody) August 20, 2018