Wagering-focused businesses Hypometer Technologies and iRival Media are joining forces in a new project, Cipher Sports Technology Group. Based in Australia, Cipher STG is a purpose-built predictive analytics, machine learning and sports media group aimed at the B2B and B2C opportunities in the online sports betting industry.
The newly formed group promises to bring a range of “cutting edge betting products” and acquisition-driving third-party integrations to the legal online sports betting sector. Moreover, it is set to leverage the combined expertise of both Hypometer Technologies and iRival Media, according to a press statement.
Cipher STG’s flagship brand, sports predictions and content website Dimers.com, is already live in the US. According to the group, it has gained “strong traction” since launching on August 1 last year. Co-launched with Hypometer Technologies, it has commercial partnerships with 11 sportsbook partners.
“Prior to creating the Cipher Sports Technology Group, both companies had been working on a number of projects together, so formalizing that relationship was the natural evolution for us,” said CEO, Adam Fiske. “We were essentially playing in the same space – albeit with a very different approach – so it didn’t take us long to realize we should be collaborating at a far deeper level and that’s what we’ve done.”
Cipher STG is also about to complete a Series A round aimed at powering its offerings of consumer-facing brands, technology and media integrations. Its portfolio includes a suite of machine learning and predictive analytics betting products, and also brings acquisition-driving third-party integrations suitable for both media publishers and sportsbooks.
“iRival Media’s strengths were in its content, community strategies and affiliate expertise, while Hypometer specialized in technology, predictive analytics and machine learning, so by joining forces we will build vibrant betting communities that are underpinned by brilliant technology,” added Fiske.
According to the CEO, executing on a consolidated strategy will give the new business “more breadth to what we could offer the market individually,” while also allowing Cipher STG “to attack it really aggressively” from both a B2C and B2B perspective.
The company is set on making the most of the North American sports gambling market opportunity, citing latest industry forecasts suggesting about 35 million Americans will place their first online sports bet by 2025. “It’s easy to understand why Cipher STG is focusing on the US market,” a company’s statement reads.
“Obviously this market has been waiting a long time for online sports betting, and the industry will continue to rapidly evolve over the next 5 to 10 years as more and more states introduce interactive wagering,” explained Fiske.
Both him and Nick Slade, co-founders of iRival Media LLC, will be present at SBC Summit North America, to be held next week in New Jersey. Fiske and Slade formed iRival Media in October 2019, which holds affiliate registrations in 12 North American States.
Hypometer Technologies was formed in 2015 by Katie Prowd and Dr. Darryl Woodford. It launched consumer-facing products FantasyInsider.com.au and StatsInsider.com.au into the Australian market soon after, and has previously partnered with wagering operators like Australia’s Tabcorp, PlayUp and Bet 365, as well as operators in Europe and US.
Original article: https://www.yogonet.com/international/news/2021/11/29/60393-australia-39s-hypometer-and-irival-media-to-compete-in-us-sports-betting-market-as-cipher-stg
