- BetMakers will be teaming up with with betting giant GVC Holdings to form a new racing partnership
- Subsidiaries of both companies have signed contracts to roll out BetMakers technology both in Australia and internationally
- GVC became the U.K.’s biggest high street bookmaker after buying out Ladbrokes last year
- Betmakers’ integration in the U.K. will begin immediately and the first product is expected to be live in Q4 2019
- The company’s share price is currently up 54.6 per cent and trading for 15 cents apiece at 11:34 am AEST
BetMakers Technology was up more than 75 per cent this morning after its subsidiary signed an agreement with international betting giant GVC Holdings.
The subsidiary, Global Betting Services, signed the agreement with GVC Holdings’ subsidiaries GVC Services and GVC Australia to form a global racing partnership.
This partnership will see BetMaker’s proprietary technology and wagering products be distributed in both in Australia and internationally.
“We are delighted to announced we have been able to reach an agreement for BetMakers to become GVC’s Global Racing Partner,” GVC Holdings Director of Trading Performance and Operations Glynn Carroll said.
“We are very excited about using BetMakers’ products on our other brands in the key markets,” he said.
As one of the world’s largest sports betting and gaming groups, GVC Holdings holds licences in more than 20 jurisdictions around the world and employs more than 25,000 staff across five continents.
In March 2018, it obtained Ladbrokes Coral Group to become the U.K.’s largest high street bookmaker. This also saw them take ownership of the Ladbrokes Australia brands and therefore existing Ladbrokes and Neds customers.
BetMakers will continue to service GVC Australia brands under the new agreement but will integrate its global racing technology products with GVC Holdings across the U.K. and other international markets.
These products include the Fixed Odds and Price Manager systems, the Global Tote co-mingling engine, the live streaming racing channel, and custom built trading platforms.
In Australia BetMakers will extend its Fixed Odds and Price Manager system services to cover all Ladbrokes Australia brands of Ladbrokes, Neds, Betstar, and bookmaker.com.au.
It has also agreed to integrate the BetMakers live streaming racing channel within each of the brand’s digital platforms.
While in the U.K., BetMakers will start with integrating the custom built trading platform to Ladbrokes and Coral.
Integration will starts immediately and the first product is expected to be live during Q4 of the 2019 calendar year.
BetMakers is now up 54.6 per cent trading for 15 cents apiece at 11:34 am AEST.