GIG - Copyright: grinvalds / 123RF Stock Photo

GIG obtains gaming licence to supply its sports betting services

Gaming Innovation Group (GIG) has obtained a Class 4 Remote Gaming Licence from the Malta Gaming Authority (MGA) for its subsidiary BettingCloud Ltd.

The B2B supplier licence means that GIG can supply its sports betting product to other licensed operators, starting with Germany-facing operator Wetten.com.

Wetten.com has become the first operator client to launch on the BettingCloud licence, and will be soft launching this week with a full commercial launch expected in Q1 2017.

Robin Reed, GIG CEO, commented: “We have reached a major milestone as we are now a fully licensed B2B gaming service provider for the sports betting vertical. GIG is continuing to branch out in the iGaming value chain and is now a fully-fledged gaming service provider.”

The new license has also encouraged GIG to develop the technology to produce proprietary odds through its subsidiary OddsModel AS.

The technology, which will be commercialized in 2017, will be integrated onto BettingCloud whom will then offer a range of independently sold services including odds feeds, content services, betting engine, risk management and trading tools.

Reed added: “Within next year, these efforts will fully come into fruition and it will greatly benefit the company and our clients.”

OddsModel AS has also signed a deal with Norwegian TV 2, the largest commercial TV channel in Norway, for the provision of betting related content in relation to its editorial and TV sports coverage.