Sporttrade Inc. announced strategic partnerships with Penn National Gaming, Inc. in Louisiana and Caesars Entertainment, Inc. in Indiana, pending regulatory approval. The agreements follow Sporttrade's recent expansion efforts into both New Jersey and Colorado. Following regulatory approval, Sporttrade's differentiated sports betting exchange platform will be accessible to eligible participants within the specified states starting in 2023.

Both states represent a strong opportunity for Sporttrade to capture market share. Louisiana has generated over $67 million in total handle thus far and is projected to draw more than $2.5 billion in annual wagering once the market matures. Indiana first launched regulated sports betting in September 2019 and has been on the upclimb every year since, producing a total handle of over $6.5 billion to date.

Established in 2018, Sporttrade's mission is to elevate the sports betting industry by introducing the first institutional grade US based sports betting exchange. Utilizing proven capital markets technology and processes, Sporttrade will offer a fair and transparent environment and the ability for participants to trade sporting events the same way one would trade stocks. Sporttrade is expected to launch in New Jersey in mid-2022, with additional states, including Colorado following closely.