Casino giant Caesars Entertainment buys Brisbane sports wagering tech startup ZeroFlucs

Casino giant Caesars Entertainment buys Brisbane sports wagering tech startup ZeroFlucs

ZeroFlucs founder and CEO Steve Gray.

A bootstrapped software startup that helps sports betting companies expand their product offerings and leverage historical data has been acquired by US$8 billion casino and hotels behemoth Caesars Entertainment in Las Vegas for an undisclosed sum.

ZeroFlucs was founded in 2021 by its CEO Steve Gray, a former senior staffer in trading solutions and digital solutions at Entain Australia which runs Ladbrokes and Neds.

"I was prompted to start the business because I saw the positioning of the Australian market - highly regulated, restrictive and little innovation or competition, and noted that the US market was probably heading in the same direction," Gray told Business News Australia in 2023.

"There was an opportunity to do something innovative," he said.

The company provides trading technology with a simulation-based pricing approach, and its offerings include same-game betting content and a mixing deck that brings together data from multiple feed providers.

ZeroFlucs director Carly Christensen joins Caesars as senior vice president of pricing technology.
ZeroFlucs director Carly Christensen joins Caesars as senior vice president of pricing technology.

 

After striking partnerships in Australia with companies such as independent bookmaker TopSport in late 2022, and betting platform provider GenerationWeb in mid-2023, ZeroFlucs spent the latter half of 2023 working on its prospects abroad.

This included a successful integration of ZeroFlucs’ technology into the Caesars Sportsbook platform with a commercial arrangement that enabled the recent launch of new products. These include what are known as  in-play same-game parlays (SGP) in the United States, and an improved menu of "SGP-eligible" markets for Major League Baseball (MLB).

In a release, Caesars says the acquisition cements a relationship between the companies that has already improved the customer experience and will continue to unlock exciting new product features and benefits for Caesars Sportsbook bettors.

"We are excited to welcome the talented ZeroFlucs team into the Caesars family,” said Ceasars Digital president Eric Hession.

"Their expertise in data science and trading technology coupled with their passion for sports makes them a perfect fit with our team as we drive to offer our customers the best sports betting product that complements our award-winning Caesars Rewards program."

ZeroFlucs will remain operational under the leadership of Steve Gray and his business partner Carly Christensen, who also joins Caesars Digital as senior vice president of pricing technology. Gray's role will be senior VP of pricing initiatives.

"We are thrilled to be joining forces with the team at Caesars and can’t imagine a better home for our people or a platform for our product to shine on," says Gray.

"Our team has always been passionate about being at the forefront of what’s possible in sports betting, and with the resources and reach of Caesars, we can now focus on taking these experiences to the next level."

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