You’re about to make a deal with the biggest sports betting site on the planet, and you’re ready to invest.
That’s right, Bovador, one of the world’s largest sports bookmaker, is about to add two new players to its lineup.
On Tuesday, the company announced that it will acquire the popular sports betting and sports betting technology startup Bovadas Sports & Marketing for $4.9 million.
Bovados chief operating officer Steve Johnson told Business Insider that he’s excited about this move because he believes it will help the company scale and grow.
The company recently raised $400 million in Series A funding led by Greylock Partners.
The deal will allow Bovadia to expand into the sports betting space, Johnson said.
For now, the deal is contingent on Bovads stock price increasing.
BOVADOS is one of a growing number of sportsbook startups out there.
Last year, the market capitalization of the platform rose from $5.6 billion to $10.3 billion, according to data from the NASDAQ Stock Market Intelligence.
It also has a $3 billion investment from Greylocks.
The Bovados team has built a reputation for building a wide array of sportsbooks for players, fans, and sports fans.
The team has an impressive track record in growing sportsbook businesses.
The platform has grown to over 200 sportsbooks and over 150 million users, according in the last year alone.
The majority of Bovader’s users are sports fans who bet on a wide variety of sports including boxing, basketball, hockey, football, and baseball.
The site has also been able to build its user base through mobile gaming.
In 2017, the platform launched a mobile gaming platform called the Bovades Mobile.
Bovey Sports &Gaming, a sportsbook that’s been around for over 20 years, was acquired by Bovadic in 2018.
In March 2018, Boveys founders sold the business to a new group led by Jeff Guggenheim, a partner at the New York-based venture capital firm Kleiner Perkins Caufield & Byers.