Wagering tech company BetMakers Technology (ASX: BET) has unveiled a five-year partnership with PA Betting Services, a division of the UK-based PA Media Group. The duo is gearing up to launch a broadcast streaming and wagering platform for intended distribution into world racing markets.
The platform, dubbed “The AdVantage Platform”, will combine the latest wagering technology and content solutions into a single platform.
CEO of BetMakers Jake Henson, said, “BetMakers and PA Betting Services are both leading innovators in the world of horse racing, so we are delighted to have partnered to launch this new and revolutionary platform. PA Betting Services is a world-class organisation whose services are widely recognised as market leading, and BetMakers sees a tactical market position to bring its technology and trading solutions to the partnership.”
The partnership with PA Betting Services, a prominent player in the UK’s PA Media Group, positions BetMakers strategically to bring its technology and trading solutions to a broader market. PA Betting Services boasts a legacy of over 60 years in the racing and betting industry, underpinned by extensive horse and greyhound racing coverage.
The AdVantage Platform is designed as a B2B product, offering a turn-key solution for international wagering operators, including PA Betting Services’ existing 200+ wagering customers.
BetMakers and PA Betting Services aim to use The AdVantage Platform for two key purposes in the racing and wagering markets. Firstly, it will address regulatory and compliance needs, making it easier to distribute and monetise racing globally for rights holders and racing bodies. Secondly, the platform will integrate data, content, trading, streaming, and editorial elements to provide an all-encompassing experience for racing enthusiasts worldwide.
The AdVantage Platform includes features like full access to global racing data, a fully outsourced risk and trading solution, a customisable racebook with fixed odds, managed trading, and connectivity to Global Totes. It also offers an immersive experience through an editorial, content, and tipping hub for global racing territories.
Users can enjoy live global racing with low latency through the integrated streaming player. The AdVantage racebook solution seamlessly integrates into existing player account management and sportsbook platform architecture, allowing operators to enter the market swiftly, with PA Betting Services and BetMakers managing upstream integrations and pricing.
This partnership follows a particularly tough couple of years for the Company, which accrued losses and saw multiple board changes. To address that, BetMakers decided to bet on expansions.
Director at PA Betting Services, Eugene Delaney, commented, “We see this as a great opportunity for not only our existing clients but also new entrants, as it offers a best-in-class, always-on approach that is fast and easy to implement, removing all the complexity usually associated with racing.”
BetMakers believes that the fully-integrated white-label platform will simplify user experience through a full user-journey and race card styling whilst accepting and settling all wagers.
The AdVantage Platform is expected to go live with its first customers in Q4 FY24 and will be showcased at ICE (International Casinos Exhibition) in February by PA Betting Services and BetMakers.
Alinda is a Business Reporter for The Sentiment
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