Pool betting markets supplier Colossus Bets has confirmed a new long-term licensing agreement that will allow bet365 to utilise its extensive cash-out patent portfolio in the US market.
The linkup follows Colossus’ considerable expansion in the country, with the firm being granted 12 patents in the US, adding to a host it has been granted globally. These include cash-out on several gaming verticals including poker, casino, lottery and, most notably, bet365’s renowned sportsbook offering.
Colossus’ CEO Bernard Marantelli commented: “bet365 are known not just for their size but also their commitment towards user experience and we are pleased that licensing Colossus’ IP
fits their commercial objectives in the US.”
The significant of the cash-out feature is undoubted, with industry estimates suggesting that if it was a sport, it would qualify as the third biggest by betting volume for most sportsbooks, right behind football (soccer) and racing, which is especially telling given the feature is still evolving.
The partnership also marks the consistent growth of bet365 in the region. The operator confirmed its expansion into Mexico by announcing a partnership with TV Azteca’s gambling subsidiary, Ganador Azteca.
The new market domain, bet365.mx, will complement the UK’s operator to expand its profile across the LATAM region. The news follows on from bet365 securing its ‘partnership licence’ from the Mexican Ministry of the Interior department ‘Dirección General de Juegos y Sorteos -DGJS’.