GIG Gets Gambling License from Malta
G.I.G. LICENSED BY MALTA AS A B2B SPORTS BETTING PROVIDER
New dimension for gambling group.
The online gambling company Gaming Innovation Group Inc. (GIG) has received an early Christmas present: a Class 4 Remote Gaming License from the Malta Gaming Authority (MGA) for its subsidiary BettingCloud Ltd. which allows the subsidiary to close B2B deals as a sports betting solution provider.
Betting Cloud wasted no time getting down to business, signing Wetten.com as its first client. Wetten.com is a German-facing operator which signed a platform agreement with GIG’s subsidiary iGamingCloud earlier this year. The company is looking to soft launch this week, with a full commercial launch expected early Q1 2017.
In a company statement Wednesday, GIG CEO Robin Reed said:
”We have reached a major milestone as we are now a fully licensed B2B gaming service provider for the Sports betting vertical. GIG is continuing to branch out in the iGaming value chain and is now a fully-fledged gaming service provider”.
GIG's statement reveals that it is currently developing technology to produce proprietary odds through its subsidiary OddsModel AS. The technology will be commercialized in 2017 and will be integrated onto BettingCloud which will then offer a range of services including odds feeds, content services, betting engine, risk management and trading tools.
The solutions will be sold independently, and can be bundled with GIG’s iGamingCloud platform.
“Within next year, these efforts will fully come into fruition and it will greatly benefit the company and our clients”, Reed said in reviewing plans for the coming year.
Last week OddsModel AS signed with the largest commercial TV channel in Norway for the provision of betting related content in relation to TV 2’s editorial and TV sports coverage.
TV 2 has a broad range of exclusive media rights including Premier League, Tour De France, World Cup and Euro Cup, including the qualifications for these. TV 2 aims for a leading position in editorial and broadcasting coverage of sports, and through the agreement, GIG will contribute to TV 2’s editorial betting services.
