Betsson takes 20% stake in app start-up
Malta-based operator invests £160,000 in Rush Sports, a developer of real-time mobile betting applications
Betsson AB has invested SEK1.8m (£160,000) in Swedish app developer Rush Sports, which yesterday released its first in-running betting app.
Rush Football enables bettors to monitor their bets and follow events in football matches such as goals, shots on target, bookings, corners and throw-ins, via minute-by-minute updates with Betsson customers able to sync their accounts to the app.
Described by Betsson as “the first true app for event driven real-time betting”, customers of Rush Sports can follow matches with in-running updated odds displayed on screen and request push message alerts for when selected events take place during a game.
Betsson’s investment in Rush Sports amounts to an approximate 20% share of the business while the operator holds a three-year option to acquire the remainder of the company.
“The investment in Rush Sports AB is part of Betsson’s investment strategy, in which Betsson continually evaluates opportunities to strengthen the company’s position in the market,” Magnus Silfverberg, Betsson Group CEO and president said.
“We believe in this investment and look forward with enthusiasm on the development of Rush Sports AB and Rush Football,” he added.
The founders of Rush Sports, who previously developed the successful Forza Football and Forza 90′ apps, said Betsson’s investment would help it develop industry leading sports betting products for mobile.
“We want to develop the best products within mobile sports betting,” Martin Lindau, Rush Sports CEO said. “With help from Betsson, Rush Football has all the possibilities of becoming another success,” he added.
Betsson has poured huge resources into developing its mobile product range over the past two years and Silfverberg recently hailed Betsson’s “fantastic” Q3 mobile performance after mobile sportsbook revenues hit 40%.