1X’S Managed Risk Sportsbook Launches on GoodLot.com
By staff
TORONTO, Canada, LONDON – Novamedia UK, a subsidiary of Novamedia Amsterdam - continental Europe’s leading charity lottery operator, and 1X Inc of Ontario today announce the launch of sports betting on GoodLot.com. The Betting Exchange uses the MARS (Managed Risk Sportsbook) system. Sports betting is now seamlessly integrated with GoodLot's cutting-edge online pool betting and fixed odds products.

In another revolutionary move for a sports betting product, GoodLot will contribute 10% of its sports betting proceeds to charity, in keeping with the remarkable record of charitable contributions set by the fundraising lotteries, operated by the Novamedia group. These lotteries, based in the Netherlands and Scandinavia, contributed over 3 Billion Euros over the past 10 years to charities such as Unicef, Amnesty International and the World Wildlife Fund. GoodLot is endorsed by Ambassadors, such as Ruud Gullit, Nafis Sadik, Anna Roosevelt, Mikhail Gorbachev and Nelson Mandela.

“Because we support charities regulatory compliance is a number one priority for GoodLot,” stated Annemiek Hoogenboom, the CEO of Novamedia UK. “The sports exchange is built from the ground up to be compliant with ‘know your customer’ and other stringent regulations. We as an operator own our customers. The ease-of-use of the betting platform for the user is unmatched in the market. It is a winning combination, and we look forward to a long and successful future with 1X.”

GoodLot offers the first exchange-based sports betting platform that looks and feels like a sports book, giving novice punters an easy access. Unlike traditional exchanges, there is no commission to pay on winning bets, making it easy for the punter to see how much she or he will actually win on a bet.

These features will open up the multi-billion dollar exchange betting market to retail users, many of whom have found existing exchanges too intimidating.

1X will add more partners to the network in the coming months, adding to the total liquidity of the sports exchange. In the next two months, 1X will also add a classic “back/lay” interface for sophisticated bettors, as well as a user-friendly lay interface for novice bettors. Hence GoodLot can guarantee liquidity and odds available for every bet on the system – another first for exchange-based betting.

“1X has been building exchange-based software for almost 3 years now”, says John O’Malia, CEO and co-Founder of 1X Inc. “We are extraordinarily proud to be working with a company with the quality, charitable record, and long-term vision of Novamedia. They have proven their gaming expertise time and time again with market-leading charitable lotteries, and they recognized immediately that adding our platform to their site was the logical next step.”

For more information on Novamedia UK, contact Sara Waller: +31-20-305 7934

For more information on 1X, contact Anthony Novac: +1-416-408-2211 x 26 anthony@1Xinc.com

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