Altenar among first to offer sportsbook Cash Out in Italy

31 October 2022
(PRESS RELEASE) -- Altenar, the leading Malta-headquartered sportsbook provider, has become one of the first to introduce a sportsbook Cash Out product to the Italian market, following the recent introduction of new legislation by Italy’s regulator.
Utilizing Altenar’s Cash Out feature, users no longer have to wait for their bet to reach its natural conclusion. The product gives bettors the opportunity to follow selections and cash out at any point, at the touch of a button.
Already widely used by players worldwide, the product also offers partial Cash Out and Auto Cash out features. Thanks to Altenar’s innovations in this space, Italian bettors now have the ability to engage in a more flexible, user-friendly betting experience for the first time.
The landmark move follows the publishing of the new PSQF 4.0 protocol by Italian regulator ADM (Agenzia delle Dogane e dei Monopoli), valid from 28 October. With the legislation now setting the minimum stake per bet in multiples of €1 and the maximum payout at €50.000, Altenar’s sports betting offering is set to take the Italian market by storm.
“The introduction of this regulation change has been a long time coming, and we are thrilled to finally be able to offer the Italian market our industry leading Cash Out product,” said Commenting on this milestone achievement, Francesco Papallo, Regional Director at Altenar. “This new legislation has opened the door for us to provide players in Italy a truly well-rounded sportsbook, and Altenar is now better placed than ever to compete at the highest level in this market.”
Altenar’s leading credentials in the Italian market has seen the tier-one sportsbook supplier net multiple awards for its outstanding technical provision.
The provider recently celebrated winning Sports Betting Provider at the EGR Italy Awards 2022, dedicated to acknowledging the Italy’s best betting suppliers and operators. The ceremony was held on 20 October at the renowned Cavalieri in Rome.
Licensed across a total of 14 major global markets, including the UKGC and MGA, Altenar has now firmly established itself as the sportsbook provider of choice for multiple leading operators.