High Roller Launches Prediction Markets, Expects Q4 Revenue

Shares of High Roller Technologies (NYSE: ROLR) soared Wednesday after the company announced the launch of its ROLR prediction market, adding that it expects the platform will generate revenue in the current quarter.

On volume that’s already more than double the daily average, High Roller — shares of which have been sensitive to prediction market news — is higher by more than 13% following the long-awaited debut of its prediction market. The company is partnering with Crypto.com | Derivatives North America (CDNA) on the real-money event contract platform.

The company started an invitation-only beta test of ROLR on Sept. 15 prior to rolling out the prediction market offering on a broader scale. ROLR is now available in Android, iOS and desktop versions.

High Roller Forecasts Q4 PM Revenue

High Roller, a Las Vegas-based iGaming operator that is transitioning to event contracts, said it expects ROLR to generate revenue in the current quarter, though it didn’t disclose a specific top-line forecast tied to the platform.

In the second quarter, High Roller lost 22 cents a share on sales of $2.81 million. Previous acquisitions by the company, including some in the media space, could set the stage for ROLR to be additive to High Roller’s top and bottom lines over the long-term.

“Together, management believes these relationships provide access to established digital audiences and multiple channels to build brand awareness and support customer acquisition,” according to the statement.

Crypto.com is a sensible partner for High Roller because that cryptocurrency exchange was one of the earliest entrants in the U.S. prediction market space and due to its status as a partner of some of the biggest names in the event contracts industry.

ROLR Ready to Roll

High Roller has the permitting and technology, including a futures commission merchant (FCM) license, to proceed with an earnest prediction market effort – one that could be aided by the relationship with Crypto.com.

“High Roller’s wholly owned subsidiary, ROLR US LLC, is a member of the National Futures Association and a registered guaranteed introducing broker operating under a guarantee agreement with OG Markets US, Inc., doing business as Crypto.com FCM. Customer accounts introduced through ROLR are carried by Crypto.com FCM; ROLR US LLC does not hold customer funds,” according to the statement.

OG Markets is Crypto.com’s in-house prediction market.