Betting exchange Smarkets has been given the green light to begin operating in Sweden after gaining the necessary approval from the country’s regulator, Spelinspektionen.
Smarkets will become the second license betting exchange in Sweden, and will see the exchange offer markets on sport, politics and current affairs.
Commenting on the new licence, Jason Trost, Smarkets CEO/Founder, said: “We know that customers in Sweden have been eagerly anticipating us going live, so I’m very excited to launch the Smarkets exchange there.
“I am confident that our market-leading prices and superior product will appeal to Swedish customers. The fact that we own our tech stack is one of the reasons we are able to offer the best pricing in the industry, and I’m really looking forward to growing our user base in Sweden.”
Smarkets has already opened offices in the UK, as well as Malta and Los Angeles. The latest licence will support the exchange in growing its international footprint.
Whilst Swedish customers will be able to use the Smarkets betting exchange, the company also introduced its SBK sportsbook app to bettors in the US state of Colorado in June, and plans to release SBK in Indiana before the end of the year.