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Mediapro enters the sports betting business
The group complements its activity with Quiver, a subsidiary for cross betting, private players, for football, basketball and tennis.
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Mediapro, specialized in sports rights and audiovisual production audiovisual group, will take an important step in diversification with the launch of a sports betting to be called Quiver. The new project will be presented on March 30 and will be operational from April.
Jackpot bet online talks about Mediapro, and how it’s intentions to buy and enter the sports betting industry and race with the other big companies that are doing the same is going to have a massive influence on the sports overall since there are going to be a lot more money to be turned around the key figures.
The idea of Quiver -the case where a rifle or arrow keys for arch- saved is to be available in an accessible application through an Internet web-and available in a beta version and also through an application will install on smartphones. Mediapro and has developed applications for Android and iPhone, although they are still in the process of certification to be able to climb to the respective app stores.
Mediapro is one of the companies that was awarded in 2015 one of the fifteen licenses to gambling companies that put at stake the government. The group will begin its activity in Spain, but plans international expansion in the future, especially in Latin America. This type of business requires the existence of continuous live competitions, so it will focus on football games, basketball and tennis.
However, the model betting firm Mediapro is different than most, since its offer is based on cross betting ie betting between individuals, instead of playing against the bookmaker, which is the majoritarian model.
In that model, when playing against the dealer, the market is dominated by three large companies Spain: Bet365, Bwin and William Hill, which control, overall, 85% of the market. In the market for cross betting, ie private, Quiver compete primarily against Betfair.
For those responsible for Mediapro, the model of bets between individuals is more beneficial to the bettor, as the company is only an intermediary and trustee of gambling, but their business model is to charge a fee to the winner, so that interests there to be winners. Betting against the house, the company is interested in calculating an award for not losing money.