The summer is almost over, and some industry players are revealing deals that have been held under wraps almost since its beginning. Binary options provider TRADOLOGIC has signed a partnership deal with BetConstruct, a company which is white-labeling end-to-end betting and gaming platforms.
As part of the deal, signed in July, TRADOLOGIC will be supplying a financial betting module to the betting solution of BetConstruct. In what is becoming an apparent trend, a number of gambling companies are seeking to diversify their product offerings.
Some big companies in the gaming industry, such as Playtech Inc (LON:PTEC) have the capacity and resources to expand aggressively by purchasing established brands such as AvaTrade, Markets.com and Plus500. Other players are taking a different approach, and starting to complement their betting solutions with financial offerings, and more specifically binary options.
The simplicity of making a binary bet is appealing to existing clients and the companies can provide the solution under their existing gaming or betting license.
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Up until now, BetConstruct has been focusing on sports betting and gaming solutions and according to its website, is supplying white label services to more than 120 companies worldwide. The company shared in the partnership announcement, “Realizing the potential, increasing popularity and scalability of the binary options vertical, BetConstruct has decided to enhance its financial betting portfolio.”
TRADOLOGIC’s binary options solution will become a part of the SpringTM platform.
The CEO of BetConstruct, Vahe Baloulian, said, “The partnership with TRADOLOGIC allows our partners to benefit from their excellent platform performance, innovative solutions, full compliance with the regulated markets and complete 24/7 technical support.”
With the new partnership, TRADOLOGIC could be getting access to an extended vertical of clients. The terms of the agreement have not been disclosed by the companies.