Swedish online gaming operator Betsson has launched a new sports betting game designed to directly compete with Svenska Spel's Stryktipset.
Betsson describes the new game, 1X2 (EttKryssTvå), as one of the biggest changes in the Swedish gaming market in 80 years.
The odds-based game allows players to bet on the outcome of 13 selected football matches with payouts on 10, 11, 12 and 13 correct picks.
The company claims the new game is unique in that the payout is guaranteed on 10, 11, 12 and 13 correct picks, as well as being odds-based as opposed to pools-based.
"Betsson thanks Svenska Spel for 80 years with the pool based game Stryktipset but now it’s time for another product, a better product," said Betsson chief executive Magnus Silfverberg. "1X2 is a more modern and more fair game where skill is highly rewarded."
Betsson added that it expects the new game to attract customers who would normally use the product of the monopoly [Svenska Spel].
Shares in Betsson AB (Co. Data) (OMX:BETS-B) were trading up 0.99 per cent in Stockholm Monday morning at SEK204.50 per share, continuing Friday's rally which saw the share price climb by more than 7 per cent following publication of the company's third quarter results.