iGaming Tech Provider EveryMatrix Buys Sports Bet Developer Leapbit

Posted on: May 30, 2022, 09:49h. 

Last updated on: May 30, 2022, 10:30h.

Gaming companies continue to erase the line that once separated the online casino and sports betting spaces. The  latest acquisition by EveryMatrix is yet another example of the continued merger of the two.

EveryMatrix
EveryMatrix CEO Ebbe Groes poses in front of a company sign. The online gaming platform provider is expanding its reach in sports betting by acquiring Leapbit. (Image: EveryMatrix)

EveryMatrix has completed the acquisition of Leapbit, according to a company announcement. This merger will provide the B2B iGaming platform provider with an advanced retail offering that will enhance its sports betting product, OddsMatrix.

The OddsMatrix platform will soon be an omnichannel iGaming system as a result of the acquisition. The platform will integrate Leapbit’s complete retail-focused software solution, as well as other products, including lottery games and virtual horse racing.

All-In-One Gaming Solution

Leapbit was founded in 2018 and is a supplier of B2B sports betting. The company’s core team includes two founders, and was previously part of Romanian-leading bookmaker Superbet.

The company created its own retail and sportsbook solutions, as well as virtual horse racing and lottery products. Leapbit also produces bespoke software for Tier 1 betting houses in Central and Eastern Europe.

OddsMatrix will expand its ecosystem with a mature, existing product for retail. This will allow the company to expand its client base.

OddsMatrix is one of the company’s three pillars and is growing at a tremendous rate already. Retail is a big component of any comprehensive sports betting suite, and by integrating Leapbit’s technology, we can take OddsMatrix to new levels of complexity,” said EveryMatrix CEO Ebbe Groes.

Leapbit’s software development team will merge with OddsMatrix and continue to provide software from its base in Zagreb, Croatia. The company’s leadership team will oversee this merger to consolidate the two entities.

OddsMatrix continues to grow at a steady pace. As of the fourth quarter of last year, it reached the milestone of an average of €100 million (US$107.8 million) monthly in total placed bets. The Leapbit acquisition is part of a detailed roadmap for this year that will allow the company to grow its capabilities and offer new features to its clients and sports partners.

EveryMatrix Grows US Footprint

EveryMatrix already secured licenses in several states in the US, including New Jersey, and recently launched in another. It received a license for Michigan and West Virginia last December. As of three weeks ago, it went live in the latter.

The company, through its deal with West Virginia, can supply the state with its in-house gaming content. This includes content Spearhead Studios and Armadillo Studios have developed. CasinoEngine, the supplier’s integration platform, will facilitate the launch.

EveryMatrix will be able to integrate its content and gambling solutions, and expand its reach across the country with this engine. The company is currently setting up hosting venues and certifying all its products.

Erik Nyman, the president of EveryMatrix’s operations in the Americas, stated that EveryMatrix had also applied for state licenses in other US markets for sports betting and gaming. He added that the company is already working on securing new deals with “large US operators,” with additional expansion on the horizon.

EveryMatrix is starting the new year strong. When it provided a revenue update a couple of weeks ago, it stated that its gross profits for the first quarter were €14 million (US$15.09 million). This represents a 14% year-on-year improvement.

The company picked up six new Tier 1 clients in the first quarter of the year. The additions include partnerships in the US, Europe, Asia, and Africa.