The acquisition is expected to significantly impact the Maryland sports betting market, as it will give BetMGM a major boost in its quest to become the leading online sportsbook in the state.
Jette Nygaard-Andersen, Chief Executive Officer at Entain, spoke of the significance of the Angstrom Sports acquisition;
“Their next-generation forecasting, pricing, and risk management capabilities will unlock significant opportunities across BetMGM’s U.S. sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering. This acquisition will provide our customers with an unrivaled sports betting experience underpinned by enhanced in-house data analytics, a global platform, and market leading brand.”
Angstrom Sports is a leading provider of sports data analytics, and its technology will help BetMGM to improve its pricing, risk management, and customer experience.”
This will particularly benefit Maryland, as the state has a very competitive sports betting market.
The acquisition is also expected to help BetMGM expand its offerings in the fast-growing parlay and in-play wagering markets. Angstrom Sports has a strong track record in these areas, and its technology will allow BetMGM to offer more and better betting opportunities to its customers in Maryland.
The acquisition of Angstrom Sports is a major coup for BetMGM, and it is a sign of the company’s commitment to the Maryland market. With this acquisition, BetMGM is well-positioned to become the leading online sportsbook in Maryland and continue expanding its bookmaking business in the state.
In addition to the benefits for BetMGM, the acquisition is also expected to positively impact the overall Maryland sports betting market.
Angstrom Sports’ technology will help to improve the accuracy of odds and the fairness of betting markets, which will benefit all Maryland sports bettors.
The acquisition is also expected to lead to increased competition in the MD sports betting market. This will benefit consumers, leading to lower prices and more betting options.
Overall, the acquisition of Angstrom Sports is a positive development for the Maryland sports betting market. It will help to improve the accuracy of odds, the fairness of betting markets, and the level of competition.
Here are some additional details about the acquisition:
- The acquisition is expected to close in Q3 2023.
- Entain will pay a base consideration of £81 million ($105.9 million) for Angstrom, plus an extra £122 million ($159.5 million) in contingent payments over the next three years.
- Angstrom Sports was founded in 2015 and is headquartered in London.