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PokerStars Announces Expansion Into Sports Betting Plus £60 Million SCOOP Schedule

Red Casino Chip on GrassPokerStars is set to expand beyond the card game for the first time after it was revealed that a betting exchange bearing the brand’s name is imminent.

The new platform will utilise the liquidity of the world’s largest betting exchange at Betfair, who are also part of the Flutter Entertainment stable of companies.

The PokerStars Exchange will bring so-called peer-to-peer sports betting to a wider audience, with hundreds of markets available every day across football, tennis, cricket, horse racing and more besides.

Revealing the firm’s new product, PokerStars director Richard Garrod said:

“We’re always looking at ways to bring PokerStars players something new, and to be able to do that in collaboration with our colleagues over at the world’s largest betting exchange is a huge privilege.

“Our research suggests that our customers would welcome the addition of an exchange product, and the PokerStars Exchange gives our players access to a brand-new sports betting experience….with all the convenience of a single account and wallet.”

The new platform is set to be launched as early as today, and will be available via their .com and .eu portals to players with an active PokerStars account – you can even use the same bankroll as in your poker gaming.

What is a Betting Exchange?

Magnifying Glass Over Wooden Block with Red and Green Arrows

The beauty of placing your sports bets on an exchange is that you are taking the odds offered by another individual – rather than a bookmaker or company. As such, a betting exchange tends to offer better value, because without the overround that a bookie implements the prices available are generally much more generous.

Another advantage of betting exchanges is that you can lay bets too. So, if you don’t think Liverpool will beat Arsenal, then you can lay the Reds and will get a net win should the game end in a draw or a Gunners victory.

You can also place lay bets after backing a particular player/team/horse – locking in a net win or reducing your liability to zero when the odds move in your favour.

There are plenty in the iGaming sector who believe that peer-to-peer betting could be the future of the industry, with entrepreneur and Reddit co-founder Alexis Ohanian ploughing his own money into the Wagr app, which allows friends to bet against one another in real time.

Springing Into Action

One of the most eagerly-anticipated events of the spring calendar, PokerStars have announced the schedule for this year’s Spring Championship of Online Poker (SCOOP) – and, for the first time ever, there will be a dedicated women’s tournament.

Getting underway on May 8 and running through until June 1, the 2022 edition of SCOOP will feature more than 300 individual events and offer a total prize fund worth $75 million – around £60 million.

All eyes will be on the three SCOOP Main Events, which will be played on May 29. The low, medium and high tournaments, which have buy-ins ranging from $109 (£84) to $10,300 (£8,000), also offer guaranteed prize pools of up to $5 million (£3.8 million).

A number of satellite events have already been added to the PokerStars lobby for anyone seeking a lower-cost entry into the SCOOP series.