The immediate business impact of being named winner of the first ICE North America LaunchPad competition has been heralded by Sam Rattner, founder of LineLibrary after the global sports betting exchange earned the accolade in Boston last week.
LineLibrary, which is introducing a new framework and global risk management infrastructure to sports markets, was awarded the title after impressing a distinguished panel and securing the vote of ICE North America attendees, in the process overcoming strong competition from four other North American finalists.
Reflecting on his business prospects in the days following his LaunchPad success, Rattner, said: “Discussions with investors have definitely sped up. What’s great about ICE North America is that the investors who have shown interest can be truly strategic. Since the event is very sports betting and esports focused, the only investors that attend are those who can provide really great value. I’ve also been put in contact with new engineers who may be joining our team in the near future. ICE North America is not just a hub for the gaming market but a hub for the engineers that are looking to get involved.”
“Winning the LaunchPad feels like a landmark achievement,” he continued. “There are a few sports betting conferences in the US, but this event is different. With the massive following and support from the UK/EU, stemming from ICE London, the ICE North America conference is more global. Having an international outlook on a topic leads to really great discussions and interesting points of view.”
LineLibrary’s primary objective is to standardize optimal risk transfer between sportsbook operators and, according to Rattner, the LaunchPad will provide the exchange with an elevated position to enter the North American sports betting and interactive gaming markets. Explaining the next steps for the company, Rattner explained: “Sportsbooks are in search of a more efficient mechanism for offsetting imbalanced action without mitigating risk by mitigating volume. As we work on solidifying our initial round of funding over the next month or so, partnering with strategic capital is our number one priority. We really feel we are building a better infrastructure to house the market. We might be ‘the little guys’ right now, but LineLibrary is going to be a massive company. We’ve got the tools, the people, and the market. With US sports betting constantly evolving, as the market grows, the inefficiencies grow with it. LineLibrary will solve this dynamic."
The scope of this year’s LaunchPad in Boston was larger than ever, with sports betting start-ups eligible to pitch alongside businesses from interactive gaming, esports, iLottery and the affiliate space. The LaunchPad initiative will next take place at iGBLive! (16th - 19th July 2019 RAI, Amsterdam), and Rattner had this advice for entrepreneurs looking to participate in future competitions. “With the LaunchPad you know who you are pitching to. VCs like to hear big ideas backed by great teams. Since most of the LaunchPad companies are meant to be early stage, investors and those interested in being involved are betting - no pun intended - primarily on the team and the market. Be excited, be different, but be ready. It’s a great networking opportunity and provides awesome exposure for early stage gaming companies. If you’re thinking about applying, stop thinking. Send in the application now!”
The submission deadline for iGB Live! 2019 Start-up is 7 June 2019. To begin the submission process, visit: igblive.com/start-up-launchpad
Image: L-R: Seth Berger, Managing Director, Sixers Innovation Lab; Robert Montgomery, CEO, First Maximilian Associates; Sam Rattner, Founder and CEO, LineLibrary; Melissa Blau, Director, iGaming Capital; Wayne Kimmel, Managing Director, SeventySix Capital; and, Evan Hoff, Partner, Velo Capital Partners