Live betting provider DeckPrism has merged with tech firm Huddle Gaming to form a new company called Huddle Tech Inc.
The combined group will offer risk and trading products to US sportsbooks. After the merger, it now has 80 staff members, with offices in London, Croatia, and Nevada.
The new firm also received a strategic investment from Las Vegas Sands (LVS.)
Who is DeckPrism?
Las Vegas-headquartered DeckPrism was founded by Ed Miller and Matthew Davidow, and provides live odds to the likes of Circa Sports and Pinnacle.
The company wants to be known for offering bets without a delay. That allows customers to know exactly what price and line they are betting.
Following the deal, Davidow will be CTO of Huddle Tech, with Miller as VP of innovation.
What’s the goal for DeckPrism?
Miller said in a Tweet thread he saw two routes forward for DeckPrism: sell to an operator or “gamble and shoot for something bigger.”
He said the merged company was “building a centralized, reliable, source of odds, risk management, and trading for the entire industry.”
Miller added: “We believe we can use our already industry-leading position in NFL and NCAA football as a springboard to offer similar in all sports.”
Who is Huddle?
Huddle offers automated trading and risk management tools for sportsbooks. Leo Gaspar, Jesse Wachtel and Francesco Borgosano founded the company.
Borgosano, a former Kambi and Stars Group exec, will be CEO of the new company. Gaspar will also serve as chief business development officer and Wachtel as CFO.
Huddle said the deal would sharpen its US sports pricing and add human expertise to their automated trading systems. Meanwhile, that automation could also increase the uptime on DeckPrisms’s live prices.
“We believe there is no technology out there that will be better constructed to meet the needs of the modern operator,” Borgosano said. “By combining our expertise with the IP and know-how of DeckPrism Sports, we have solidified our existing products as well as dramatically accelerated our product development along that path.”
LVS is focusing on B2B
Meanwhile for LVS, the investment is part of a deliberate focus on the B2B side of the industry.
LVS formed a digital gaming investment team in 2021, focused on suppliers.