STX

Online Sports Betting Exchangestxapp.io

STX (SportsX, LLC) operates a licensed sports betting exchange in Ontario, Canada, combining a traditional sportsbook with an exchange model on a proprietary Elixir/Erlang platform. It serves retail bettors, professional traders, and institutional firms via public APIs and FIX protocol.

Company typePrivate
Founded2022
HeadquartersChicago, United States
Headcount11–50
GTM typeB2C
OfferingServices

What STX does

STX, operated by SportsX, LLC, is a sports betting platform that combines a traditional retail sportsbook with an exchange model on a single licensed technology stack. The company is incorporated in Ontario, Canada, holds an Internet Sports Betting Services license from the Alcohol and Gaming Commission of Ontario (AGCO), and operates the STX Exchange serving Ontario-based retail bettors, day traders, sports betting syndicates, and traditional financial trading firms. Customer acquisition is product-led: a mobile iOS app (currently distributed via TestFlight) and web platform target casual users with a day-trading-style UX, while a public GraphQL/WebSocket API, Python and C# SDKs, FIX protocol support, and Slack/Discord developer channels target professional and institutional automated trading.

The platform is built on Elixir and Erlang using a proprietary Multilateral Caching Architecture (MCA) and an actor model for stateful in-memory state management. The matching engine averages approximately 2 microseconds per order and is designed to sustain thousands of orders per second at peak, with database read share reportedly under 5% versus 70%+ for traditional MVC architectures. Supporting infrastructure includes an admin platform (real-time monitoring, fraud/collusion detection, alerts, and task management built on Phoenix LiveView) and a comprehensive Player Account Management system covering AML, KYC, geo-location, self-exclusion, cool-off periods, and responsible gaming limits. STX also operates a Gaming Laboratories International (GLI) certification referenced on its footer.

The business model is multi-stream: transaction fees on exchange trading, recurring platform subscriptions, market data sales (framed as unique to STX), and traditional sportsbook margins from fixed-odds wagering. Marketing and distribution are conducted primarily through organic social channels (X, Instagram, LinkedIn, Discord), a public developer wiki and whitepaper, a Refer-a-Friend program, and a STX Loyalty Program. The strategic positioning is differentiated in two ways: STX explicitly welcomes professional winning bettors rather than restricting them, and it offers institutional-grade connectivity (FIX protocol) to a vertical historically dominated by retail-only operators.

STX firmographics

Firmographics

Name: STX
Legal name: SportsX, LLC
Website: https://stxapp.io
Company type: Private
Founded year: 2022
Operating status: Operating
Headcount range: 11–50 employees
Short description: STX (SportsX, LLC) operates a licensed sports betting exchange in Ontario, Canada, combining a traditional sportsbook with an exchange model on a proprietary Elixir/Erlang platform. It serves retail bettors, professional traders, and institutional firms via public APIs and FIX protocol.
Ownership category
akta.pro rank

STX industry classification

Industry

Product category: Online Sports Betting Exchange
NAICS: Gambling Industries (7132), Other Gambling Industries (713290), Other Gambling Industries (71329), Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (5232)
SIC: Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)
akta.pro primary industry: Betting Exchanges & Peer-to-Peer Sports Betting (MPAEACAL)
akta.pro secondary industries: Peer-to-Peer Financial/Spread Betting Exchanges (MPAEAIAC), In-Play (Live) Betting Exchanges (MPAEAIAD), Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA), Copy Trading, Social Trading & Automated Trading Platforms (FSADAAAK)

Keywords

Sports betting exchange
Online sportsbook platform
Betting API integration
Exchange wagering technology
Peer-to-peer betting market

Where STX is headquartered

Location

Headquarters

HQ city: Chicago
HQ country: United States
HQ region: North America

Offices1 record

Markets served

STX business model

Business model

GTM type: B2C
Offering type: Services
Cost components: Technology or R&D, Operations, Personnel, Infrastructure, Others

Revenue model

Trading/Transaction Fees: Collecting fees on trading activity within the exchange platform.
Platform Subscriptions: Offering subscriptions to access the platform.
Market Data Sales: Selling unique market data only available from STX.
Traditional Sportsbook Wagering: Traditional sports betting margins from casual retail bettors using fixed-odds markets.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

STX product offering

Product offering

Core offering

STX operates a licensed Ontario sports betting platform that combines a traditional fixed-odds sportsbook with a peer-to-peer betting exchange, accessible to retail bettors via an iOS app and web interface, and to professional bettors and trading firms via public APIs, Python/C# SDKs, and FIX protocol. The exchange model allows users to back and lay bets against each other while the house collects transaction fees, and the platform's proprietary matching engine completes orders in microseconds to support high-frequency, high-volume trading.

Product overview

STX is a bimodal sports betting platform combining traditional retail sportsbook offerings with an exchange model that welcomes professional bettors and financial traders. The core product is the STX Exchange Platform, which supports MLB, NHL, NBA, NCAAB, NFL, NCAAF, Golf, Tennis, soccer leagues, and season markets. The platform is accessible via the STX iOS Application for retail bettors and provides programmatic access through the STX GraphQL and Socket API, complemented by the STX Python SDK and STX C# SDK for professional integrations. Supporting infrastructure includes the STX Admin Platform for event operators, compliance officers, and fraud monitoring, and the STX Player Account Management (PAM) System for regulatory compliance including KYC, AML, and geo-location.

Differentiator

Problem solved

Functional benefit

Products and services

STX Exchange Platform Bimodal sports betting platform combining a traditional fixed-odds sportsbook with a peer-to-peer betting exchange that welcomes professional bettors and financial traders; built on Elixir/Erlang with a Multilateral Caching Architecture and a matching engine averaging 2 microseconds per order, supporting thousands of orders per second across MLB, NHL, NBA, NCAAB, NFL, NCAAF, golf, tennis, soccer leagues, and season markets.
STX iOS Application Native iOS application delivering the STX exchange to retail bettors with a user experience resembling common day trading applications, used to place wagers on live sports markets.
STX GraphQL and Socket API Public GraphQL queries and mutations paired with a WebSocket system for real-time market notifications, enabling automated trading clients, analytics, and third-party application integration with the STX exchange.
STX Python SDK Python software development kit that overlays the raw GraphQL/Socket API, enabling rapid development of automated trading and integration use cases against the STX exchange.
STX C# SDK C# software development kit that overlays the raw APIs and handles many tasks for the user, enabling rapid automated trading integrations on Windows for professional bettors.
STX Admin Platform State-of-the-art reporting and admin platform with flexible role configuration for event operators and compliance officers, featuring real-time market monitoring via Phoenix LiveView, integrated alerts, task management, and fraud and collusion detection.
STX Player Account Management (PAM) System Automated player account management system providing regulatory management capabilities including anti-money-laundering (AML), know-your-customer (KYC), geo-location, self-exclusion, cool-off periods, and player limits.

Companies that use STX

Customer profile

Segments4 records

Ideal customer profiles3 records

STX technology and API

Technology

Technology focussed Yes

API detail

Has API: Yes
API docs
API detail

Core technology

AI maturity

App detail

Integration3 records

Feature8 records

STX partnerships and signals

Strategic signal

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

STX competitors and assessment

Company assessment

Emerging players

Kalshi: Kalshi operates a CFTC-regulated event-futures exchange in the U.S., adjacent to sports betting. STX shares the "event outcomes as tradable instruments" thesis and competes for the same institutional/trader audience interested in event-driven markets.
Novig: Novig runs a commission-free peer-to-peer sports prediction exchange targeted at U.S. users. STX competes for the same trader/bettor hybrid demographic with a more institutionally-oriented product stack.

Direct peers

Smarkets: Smarkets is a sports betting exchange competitor offering peer-to-peer wagering with low commissions. STX competes for the same exchange-oriented bettor, particularly in regulated markets like Ontario where both have historically operated.
Sporttrade: Sporttrade is a U.S.-based sports betting exchange positioning itself as a financial-style trading venue for sports outcomes. STX targets an overlapping trader demographic and competes directly for the "sports as a tradable asset class" thesis.
Prophet Exchange: Prophet Exchange operates a peer-to-peer sports betting exchange in the U.S. with multi-state licensing. STX competes for institutional and professional bettor flow in the North American exchange category.
Betfair: Betfair is the dominant global sports betting exchange and the original peer-to-peer sports wagering marketplace. STX explicitly models itself on Betfair's exchange architecture while differentiating via HFT-grade latency and FIX protocol access for institutional clients.
Betdaq: Betdaq is a smaller peer-to-peer sports betting exchange competing with Betfair. STX positions similarly as a sports betting exchange with a focus on attracting professional and trading-firm flow.

Broad incumbents

DraftKings: DraftKings is the largest U.S. sportsbook operator and a broad incumbent in online sports betting. STX competes for the same Ontario customer pool while differentiating through its exchange model and institutional API offerings.
FanDuel: FanDuel (Flutter Entertainment) is the dominant North American online sportsbook. STX operates alongside FanDuel in Ontario but differentiates by welcoming professional bettors rather than restricting them.

Regional players

theScore Bet (Penn Entertainment): theScore Bet is a Canadian sportsbook operated by Penn Entertainment and licensed in Ontario. STX competes directly for Ontario bettors but differentiates by offering an exchange model rather than fixed-odds only.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

STX compliance and trust

Trust signal

Compliance1 record

STX financial estimates

Financial estimate

Revenue estimate

Valuation estimate

STX leadership team

Management profile

Number of profiles

Profiles2 records

STX funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

STX M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about STX

What does STX do?

Is STX a public or private company?

STX is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was STX founded?

STX was founded in 2022. It employs 11 to 50 people.

Where is STX based?

STX is headquartered in Chicago, United States, in the North America region.

How does STX make money?

Four revenue lines are on record. Trading/Transaction Fees are the primary driver. The others are platform Subscriptions, market Data Sales and traditional Sportsbook Wagering.

Who are STX's main competitors?

Emerging players on record are Kalshi and Novig. Direct peers are Smarkets, Sporttrade, Prophet Exchange, Betfair and Betdaq. Broad incumbents are DraftKings and FanDuel. theScore Bet (Penn Entertainment) is listed as a regional player.

Does STX have an API?

Yes. STX exposes a public GraphQL API with queries/mutations for accessing data and placing orders, paired with a WebSocket system for real-time notifications. The API is published publicly and encourages automated trading clients. Two SDKs overlay the GraphQL/Socket interface: a Python SDK and a C# SDK. Additionally, the Financial Information Exchange (FIX) standard is supported for integration with traditional financial trading platforms. Security is implemented directly in the API, assuming adversarial access. Developer documentation is at wiki.stxapp.io.

What industry is STX in?

STX's product category is Online Sports Betting Exchange. Its primary akta.pro industry code is MPAEACAL, Betting Exchanges & Peer-to-Peer Sports Betting, with a secondary code of MPAEAIAC, Peer-to-Peer Financial/Spread Betting Exchanges. Its NAICS code is 7132 and its SIC code is 6211.