Undaunted by the relative lack of traction sports betting exchanges have gained in the two states where such wagering is expressly legal, three men with backgrounds in the finance, legal, and gaming sectors have moved a step closer to launching their straightforwardly named Sports Betting Exchange (SBX) in Colorado.
Co-founded by CEO Peter Karahalios, CTO Billy Smolen, and COO/General Counsel Mike Roselli, SBX recently emerged from “stealth mode” to announce a market access agreement with the Gilpin Casino in Black Hawk. The Colorado Division of Gaming still must grant regulatory approval to the peer-to-peer exchange, a stock market-like platform where bettors set their own limit orders and match one another, before it can launch.
