High Roller launches ROLR prediction markets and expects Q4 revenue

High Roller Technologies made its real-money ROLR prediction market platform available to eligible US users, working with Crypto.com Derivatives North America. The platform can be reached through desktop and mobile web browsers, and dedicated iOS and Android apps are expected later, pending app store approvals. The rollout came after an invitation-only beta test that started on 15 September.

High Roller said it expects ROLR to bring in revenue during the current quarter, but it did not provide a specific revenue forecast for the platform. For the second quarter, the company posted a per-share loss of 22 cents and revenue of $2.81m. High Roller is a Las Vegas-based iGaming operator that is moving into event contracts.

The company statement said High Roller's wholly owned subsidiary, ROLR US LLC, belongs to the National Futures Association and serves as a registered guaranteed introducing broker under a guarantee agreement with OG Markets US, Inc., which does business as Crypto.com FCM. Accounts introduced through ROLR are held by Crypto.com FCM, and ROLR US LLC does not hold customer funds, according to the statement. OG Markets is Crypto.com's in-house prediction market entity.

Seth Young, High Roller's chief executive, said in a statement that the full commercial launch of the prediction markets platform marks a defining milestone for the company as it brings ROLR to the public and starts the next phase of its growth. He said the aim is to make prediction markets accessible and engaging by offering an intuitive customer experience, and that the company's track record running real-money consumer platforms gives it a foundation for building the business.

It was reported that High Roller shares climbed more than 13% that day, helped by trading volume already above twice its daily average. The report said earlier media acquisitions could offer built-in distribution, and that management sees such ties as a way to reach established digital audiences and use several channels to raise brand awareness and support customer acquisition.