Last Updated on 1 July 2022
BetMakers Technology Group signed a content and data deal with Penn National Gaming that runs from July 2022 until December 2025. Under the deal, BetMakers will offer Penn’s racing content to licensed betting operators outside the US and Canada.
The Australian company will get the exclusive rights to provide international bookmakers with over 945 races a year. These bookies will get a ready-to-use betting content package that includes fixed-odds wagering markets, booked bets, and exchange betting options.
How does the partnership work?
After announcing the deal, the Australia-based bookmaker explained how its Global Racing Network model works. The company said that the Global Racing Network provided rights holders with “incremental revenue streams” by allowing them to export their existing content to new regulated markets.
BetMakers also explained why they offered these bundled content packages to other betting providers. The Australian company said that it received a fee based on how popular a wagering product was. In other words, BetMakers receives a percentage of the turnover these bookmakers generate while punters bet on the bundled packages BetMakers provides.
So, it is a win-win situation for all parties involved. Rights holders get new revenue streams and BetMakers is the middleman offering its products to licensed betting providers for a fee.
These betting providers profit too, as they get top-quality betting content that has already proven to be successful elsewhere. Lastly, bettors benefit as well and get new racing events, meetings, and betting markets.
Maximizing Value for Shareholders
Kerry Gatten, BetMakers’ Global Racing Network Partnerships Manager, said that they were delighted to be able to offer Penn’s top-quality content to global audiences and also increase the visibility of US racetracks.
In recent years, BetMakers has been focusing on expanding its international presence and finding new partners and clients. The company signed a 10-year partnership with NTD recently and expects to generate over $300 million in revenue from that deal.
Todd Buckingham, BetMakers’ CEO, outlined that the company always took a disciplined approach when it came to future investments and that returning value to shareholders was a top priority.
Buckingham said that he hoped that all deals they signed would result in strong organic growth in the next financial year and that they expected that momentum to continue.
The CEO of the Broadmeadows-based company was also satisfied with the strong financial position, adding that market dynamics and current cash flow allowed them to maximize value for shareholders.
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