Pool betting specialist Colossus Bets has partnered fantasy sports business Pivit to develop and distribute a new National Football League (NFL) game combining pool betting and fantasy sports mechanics.
The game will combine the Most Valuable Player (MVP) fantasy sports format with unique Colossus Bet features such as huge guaranteed prizes, crowd-funded entry system Syndicates and its cash-out technology, which is patent-protected in the US market.
"We are very pleased to partner with Pivit to develop and take to market our first fantasy jackpots," Colossus chief operating officer David O'Reilly said. "While liquidity in our football pools has gone from strength to strength, we have been actively working towards the diversification of our product to appeal to new audiences and geographies.
The initial roll-out of the pools in Q3 will be supported by the release of free-to-play and play-for-fun variants. Colossus Bets' partner in the venture, Pivit, has also devised a multi-channel digital marketing plan to promote the pools to its 3m-strong customer base.
Founded in 2013, Pivit aims to carve out a niche in the fantasy sports market by developing jackpot-focused and sweepstakes games.
Its acting marketing and business development officer, Robert Miller, described the partnership with Colossus Bets as "an exciting development".
"[It] allows us to add to our suite of existing sweepstakes products, by adding a popular fantasy concept and big sports jackpots, which are highly engaging to a US customer," he explained. "Having strong distribution from day one adds to the excitement and we expect many players to be excited to engage in this product, given the large potential prize pools."