‘We never stop growing’ — Celebrating Xpoint’s Biggest Month Ever ??

Xpoint, which provides cutting-edge geolocation solutions for the sports betting, iGaming and Daily Fantasy Sports (DFS) industries, only looks forward as we make good on our promise to help our partners unlock the true potential of geolocation technology. However, after a month of major milestones, we are taking a moment to reflect on our most recent successes.

In September, just a year after our official unveiling at the Global Gaming Expo (G2E) in Las Vegas, we officially launched both of our signature geolocation tech products in the United States, establishing our presence as a true disrupter in the geo-compliance sector across North America.

Officially launching means that Xpoint has unveiled several exciting partnerships, along with further financial investments in the business that will enable even greater expansion as a leading geolocation provider in the U.S., Canada, and beyond.?

Verify and Lite make their U.S. debut

Xpoint Verify, Xpoint’s geolocation solution for real-money gaming products, has officially debuted in New Jersey as the geolocation partner for Sporttrade, the revolutionary legal sports betting exchange in the U.S., which launched in September.

Sporttrade is unique in that it is built like a financial exchange, allowing customers to trade on sports outcomes by buying and selling contracts, just like trading stocks. Xpoint Verify pinpoints Sporttrade users’ locations when they place bets, confirming they are in an area where it is legal to make their trade.

“Sporttrade is fantastic,” says Marvin Sanderson , CEO and Co-Founder of Xpoint. “They’re a disruptor in the market, just like Xpoint. They’ve been a partner and a big backer of us for about 18 months now, so I’m really pleased that they’ve launched to give themselves some traction in the market. Their launch also means that Xpoint Verify is live and available for anyone else that’s interested in using it in New Jersey.”

Additionally, Xpoint Lite, Xpoint’s specialist software for DFS and skill-based gaming operators, debuted across the USA via BettorFantasy. The DFS app is already available in 21 U.S. states, with more planned soon, allowing users to sync their fantasy leagues, make picks, cash in for prizes and even raise money for charity.

Hot on the heels of the BettorFantasy partnership came our announcement of another Xpoint Lite partnership, this time with Flex Fantasy. Flex Fantasy is a fun, simple DFS platform that enables players to use their existing season-long team to engage in as many challenges as they want against other players, instead of having to pick a new daily fantasy line-up each week, whether they are in the player’s season-long league or in a separate league.?

Xpoint Lite will enable both brands to satisfy and exceed geo-compliance regulation.

“The guys at both Flex Fantasy and at BettorFantasy have been extremely positive with Xpoint and have both helped us grow into the product we can deliver today,” Sanderson says.

“DFS is an opportunity for us, as it means we’re live in multiple states. For us, that’s amazing, because we’re establishing a large amount of data, we’re getting a lot of information from those clients and we’re proving that we can work across the USA.”

Xpoint secures further investment

As if launching our three partners and both primary Xpoint products in the U.S. didn’t already make September momentous enough, Xpoint has also secured new investments from several companies that share a belief in Xpoint’s exciting future.

Acies Investments (an industry-dedicated venture capital company focusing on the sports wagering & sports technology, iGaming and esports industries), the Raine Group (an integrated merchant bank advising and investing in high growth sectors of technology, media and telecom, backing big names like Chelsea Football Club ), and SuRo Capital Sports (a publicly traded investment fund that seeks to invest in high-growth, venture-backed private companies) have all made new, sizable investments in Xpoint, assisting the company both as financial backers and as springboards for future partnerships as it continues to expand.?

“Acies, Raine and SuRo’s wealth of contacts, along with their ability to give us inroads into other, larger clients, will be phenomenal for us,” Sanderson says. “Our push was always for strategic investments, not just for the money, and these guys are second to none in our marketplace.”

Early investors double down on Xpoint?

Furthermore, Bettor Capital, and Courtside Ventures (an early-stage venture capital fund focused on sports, betting, collectibles, fitness and gaming, which has also invested in major sports media outlets like The Athletic ) made further investments in Xpoint in September. The two companies have backed Xpoint long before our products went live.?

“Bettor Capital led this new funding round, and I want to thank their team for their continuing, and invaluable support of Xpoint,” continued Sanderson. “Alongside Courtside Ventures - which has an incredible portfolio of investments across a range of industry sectors which complement Xpoint’s core business goals and values - we are honored to have such good, active and innovative investment partners,” Sanderson said when the two companies first announced their investment partnership in February.

What’s next for Xpoint?

September’s new partnerships, coupled with new substantial investment backing, are placing Xpoint on a path of sustained success in the geolocation technology space—a burgeoning sector filled with opportunity.

Since 2018, when the U.S. Supreme Court struck down the longstanding federal ban on the state authorization of sports betting, and users began placing mobile wagers in states where it was legal to do so, the U.S. has been in dire need of a competitor to break up the geo-compliance monopoly. The above accomplishments confirm that Xpoint is that viable competitor.

“These feats prove how much people want a credible secondary choice in this market,” Sanderson says. “We’ve been talking to a lot of partners in the last twelve months, and it just shows that the appetite for an option is out there.”

Xpoint has no intention of slowing down. It will continue to provide geolocation services for more, yet-to-be-announced clients, and venture out further into the U.S. and beyond.

“You’ll hear some announcements coming in the next few months,” Sanderson promises. “We’ve got some really good opportunities on the horizon, and we’re expanding out some products. We’re certainly going to be delivering more and more to the U.S. market and the South American market—and we’re also hoping to continue to expand out into Canada and elsewhere as well.?

“We never stop growing, and we never stop building at Xpoint. That’s the whole point. We’re continuing to grow with our customers, and continuing to develop a second-to-none product.”