The Gaming Innovation Group (GiG) has simultaneously expanded the presence of its sports betting technology platform in the United States and gotten a stake in a unique local sports betting concept. It’s a move that could springboard GiG’s platform with similar providers in the US in the future.
GiG’s new partner, Crab Sports, aims to differentiate itself from other sports betting brands in Maryland via a strong local presence. While it remains to be seen to what degree that strategy will succeed, the definition of success is up to Crab Sports itself.
GiG to power Crab Sports online sportsbookA Tuesday press release from GiG confirms that Crab Sports’ online sports betting app has gone live in Maryland using GiG’s sports betting platform as its operational tool. GiG says its sportsbook platform has licensure in 30 global markets and provides the technology for over 60 sports betting brands across the world.
Among other US operators that use GiG technology are Bet365 and Unibet. The LeoVegas online casino, which has made inroads into New Jersey, also utilizes GiG products. This is GiG’s first foray into Maryland, however.
For Crab Sports, GiG’s platform handles most of the aspects of the online sportsbook’s operation. While a brand like Crab Sports might not carry with it the name recognition of other Maryland sportsbooks like BetMGM and Caesars, it isn’t necessarily looking to compete with them.
The path to potential profitability for Crab Sports could tread an entirely different patch of earth.
Crab Sports is unashamedly MarylandCrab Sports aims to pinch off a piece of the almost $3 billion in sports bets that Marylanders gambled over the past fiscal year. While that market share might prove small, it could still be mighty regardless.
Like the sweet meat inside blue crab claws, it could be possible for the sportsbook to build some sweet profits even if its share of the overall betting dollars isn’t huge. As for any other business, profit simply comes down to revenue minus expenses.
Crab Sports is partnering with other Maryland businesses for cross-promotions instead of spending on mass media buys. For example, Maryland’s The Daily Record reported in March that Crab Sports made a deal with popular Baltimore restaurant Jimmy’s Seafood.
Crab Sports integrates discounts for bettors at Jimmy’s and other Maryland businesses into its own customer rewards program. The local sales pitch to bettors could prove successful if Crab Sports’ partners buy-in and promote it to their customers.
By using GiG’s platform, diners at Jimmy’s and other Marylanders who check the app out should encounter a positive user experience. If Crab Sports can claw out a place among Maryland sportsbooks, this could be a blue crab print for other gaming companies to follow.