Altenar launches cash-out product for changed Italian market

Altenar has announced the launch of its customised cash-out product for the Italian betting market. 

The Malta-based sportsbook software solutions provider has built its Italian cash-out product in response to recent regulatory reforms imposed on the Italian sportsbook market.

This October, Italy’s Parliament approved technical reforms long-sought by sports betting operators to improve the offering of the regulated market for national consumers.

Headline reforms saw the government allow licensed online bookmakers to offer customers cash-out functionalities across all betting markets, which to date have only been available for horse racing events. 

Further improvements saw the Italian government increase bookmaker’s fixed odds winning cap from €10,000 to €50,000 applied across all sports betting markets.

The long-awaited reforms were formally approved into law on 28 October.

Responding to changes, Altenar seeks to become one of the first B2B sportsbook software specialists to offer instant cash-out and auto-cash functionalities for Italian sportsbooks.

Francesco Papallo, Regional Director at Altenar, said: “The introduction of this regulation change has been a long time coming, and we are thrilled to finally be able to offer the Italian market our industry-leading Cash Out product. 

“This new legislation has opened the door for us to provide players in Italy a truly well-rounded sportsbook, and Altenar is now better placed than ever to compete at the highest level in this market.”