The ability to be distinguishable in a highly saturated market is a trait all organizations are looking for. The reality, though, is that the idea is easier than the implementation. But STX – gearing up to launch Ontario’s first licensed sports betting exchange – is on a mission to innovate with its revolutionary tech stack set to take the Canadian province by storm. With AGCO licensing and approval, the launch of the STX product is imminent.
April 4 marked the one year anniversary of the regulated Ontario igaming and sports betting market, and in that time, the province has welcomed a whole host of operators providing their sportsbook offering.
The shift from a grey market to a regulated one has brought with it a great deal of opportunity for sportsbooks to tap into and grow their customer base.
But opportunity also breeds competition, leading some observers to conclude that supply is now higher than the demand.
That’s where STX comes in.
Unlike traditional sportsbooks which offer one-sided pricing, STX is ready to shake up the Ontario market with a differentiated approach where users determine odds by placing an order on its app, and trades completed only once the buyer and seller have agreed on a settled price.
STX, meanwhile, acts as the fiduciary, making sure participants are operating in a fair manner.
Championing STX’s emergence in Ontario – the company’s first jurisdiction – is its modern tech stack. Built from the ground up, it provides bettors, from professionals to recreational, the ability to bet responsibly utilizing its rich API and industry-leading risk mitigation tools and transparency.
“While the rest of the industry has been battling in a land grab, we have been in the shadows focused on perfecting our platform. We are beyond excited to showcase our hard work for the enthusiastic sports betting community in Ontario,” said STX founder Justin Deutsch.
The house-built platform enables back office automation and customization for all reporting and operating requirements with concurrency, reliability, scalability and immutability installed as the key components of its engineering, facilitating the most robust and stable platform in the industry.
With markets open 24 hours a day, seven days a week, STX users can place orders throughout a game or a season and make informed decisions on developments as the market fluctuates.
Although the launch focus will be on the exchange, the STX backend platform is built to facilitate traditional online sportsbook and casino as well, gearing it up to be the first all-in-one online gaming platform in the regulated North American market.
“The focus at STX is not only on bringing a new demographic of day trader into the world of sports betting, but also providing a better experience for every potential customer from recreational to professional,” Deutsch explained. “Our team takes immense pride in creating unique and engaging customer experiences with white glove customer service. Retention will be key to our success. Loyalty is scarce in this industry and we believe that is a function of lack of product innovation and swift response to customer needs, both things we will provide at the highest level.”
STX has already secured a comprehensive partnership with US Integrity that will see the sports betting integrity monitoring company provide its services via its proprietary dashboard, while the company was also recognized as a finalist in the 2022 SBC First Pitch competition at SBC Summit North America.
The message is clear; STX is ready to transform the market and act as an industry trailblazer, merging sports betting with traditional financial markets infrastructure.
The STX app can be downloaded by visiting www.stxapp.io.