PokerStars ventures into Sports Betting with new platform
Last Updated on by James King
Flutter Entertainment-owed brand PokerStars has moved into sports betting, having launched a new platform called PokerStars Exchange.
INTRODUCING: PokerStars Exchange.
Available from today on PokerStars .COM & .EU, PokerStars players now have access to the same global liquidity pool as the world’s largest betting exchange, the Betfair Exchange.https://t.co/pfXT5xka95
— PokerStars Blog (@PokerStarsBlog) April 21, 2022
This new peer-to-peer online betting exchange will operate in a similar way to that of the existing Flutter Entertainment-owned brand Betfair, which also operates as an exchange.
It means that users will be able to gain access to all of the same markets and options as those who use Betfair.
Interesting move from Flutter
One thing that the global iGaming conglomerate has done well over the years is keeping each of its brands separate in terms of service offerings, with each of those being key leaders in their particular niche.
As such, with PokerStars being an undisputed specialist in the poker niche, it is interesting that Flutter feels the need to add sports betting element to the brand when it already has Betfair.
The worry would be that this might distract current PokerStars players from what the brand does very well and perhaps this may contribute to a decline in poker revenue, even maybe affecting its position in the online global poker niche.
However, this has been dispelled by PokerStars Director of Product, Richard Garrod, who explained: “We’re always looking at ways to bring PokerStars players something new, and to be able to do that in collaboration with our colleagues over at the world’s largest betting exchange is a huge privilege.
“Our research suggests that our customers would welcome the addition of an exchange product, with 70% of current sports bettors saying they want to get involved.”
Unique product offering for the poker brand
What this opportunity also provides is a chance to stand out among other poker brands, by offering players something different – in a similar way that online bingo sites also offer players some casino games.
With international PokerStars able to gain access to this via the sports tab on the website, it gives users the chance to effectively play the role of the bookmaker by providing odds to other players to bet on.
Garrod continued: Garrod added: “The PokerStars Exchange gives our players access to a brand-new sports betting experience alongside a global community of sports fans, with all the convenience of a single account and wallet.
“After months of hard work and execution, we’re thrilled to offer PokerStars players this addition to the PokerStars portfolio.”