PointsBet Acquires Banach Technology
PointsBet Acquires Banach Technology: DENVER – March 15, 2021 – PointsBet, a premier international sportsbook today declared that the company has entered into a binding share contract to buy Banach Technology limited operator,(“Banach”).
The acquisition is set to position PointsBet as a frontrunner for in-play sports wagering within the United States, just as in-play wagering is predicted to grow exponentially.
“Industry specialists have agreed that as US sports gambling continues to grow, betting interest will trend toward a lot of live, in-play wagering,” expressed PointsBet USA CEO, Johnny Aitken.
“Excellence in live wagering – and our ability to position PointsBet as industry leaders with a differentiated, more seamless in-play product that stands out versus the competition – will return as a byproduct of our bookmaking expertise, furthermore as our ownership and internal operation of our technology infrastructure from end to end.
Today’s noteworthy acquisition of Banach Technology enhances PointsBet’s in-house approach and fast forwards our technology and skill among the in-play vertical, setting us up well for the future of this burgeoning business.”
Within the following few years, in-play wagering is predicted to represent roughly 75% of all sports betting activity within the US. PointsBet’s acquisition of Banach accelerates the sports gambling operator’s technology roadmap and places the company in prime position to take advantage of that anticipated growth.
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Additionally, through extremely refined risk management algorithms and deep trading expertise, Banach Technology will permit PointsBet to optimize achieved margins, therefore giving superior value to customers.
“As legalization to approve sports gambling accelerates across the United States, it’s become clear that the in-play opportunity is going to be very important, and people with the best depth and breadth of product will win,” noted PointsBet group managing director, Sam Swanell.
“Technology is at the forefront of everything we have a tendency to do at PointsBet, and we have undertaken an in-house approach to proprietary technology as the key priority.
In Banach, PointsBet has found a similar team of technologists, and the acquisition is a preferred approach to developing our in-play capabilities organically, given it permits us to dramatically work up our speed to market while still allowing us to possess market-leading technology and still manage our destiny.”
Banach is a Dublin-based supplier of proprietary risk management platforms and quantitative-driven trading models that support advanced pre-game and in-play betting products across various sports, including the four major American sports and international soccer.
The Banach team is deeply experienced with a strong sports betting background in leading pre-game and in-play wagering markets, having previously established the quants division of Flutter Entertainment Plc (formerly Paddy Power Plc).
“I am very pleased with the business and team we have designed over the last couple of years,” commented Banach CEO Mark Hughes.
“We couldn’t be more excited regarding the burgeoning US chance and the role that the Banach team will play in accelerating and strengthening PointsBet’s pre-game, in-play, and free-to-play offering within the US. It’s nice to be a part of such a forward-thinking international organization.”
PointsBet is one of the quickest growing sportsbooks within the country and is quickly increasing its U.S. footprint, presently bringing its best-in-class proprietary technology, modernized and premium brand mentality, expert trading practices, and established growth marketing methods to the burgeoning sports betting markets of Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey.
Originally based in Australia, PointsBet is a cutting-edge bookmaker that prides itself on having the fastest and most user-friendly app (iOS and Android) while additionally providing the best content and experience for sports bettors.
PointsBet is the only U.S. online bookmaker to offer PointsBetting – a unique and innovative way to bet– and has additionally introduced a slew of well-received, bettor-first initiatives.
PointsBet offers the most markets on all four major U.S. sports (NFL, NBA, MLB, NHL) and PointsBetting in the world. For more information, visit www.PointsBet.com
About Banach Technology
Banach Technology is a Dublin-based B2B provider of proprietary risk management platforms and trading models that support complex betting products. The team consists of c. 40 FTEs with deep experience creating products in a mature and sophisticated sports wagering market.