Wins Fixed Odds U.S. Rights for 7 More Tracks
Sydney, July 10, 2020 AEST (ABN Newswire) - The Board of BetMakers Technology Group Ltd (
ASX:BET) (T07:FRA) is pleased to announce that it has secured exclusive rights to a further 7 Race Tracks in the U.S. and Canada to manage and distribute their Fixed Odds betting in the U.S. racing market.
Highlights
- Racing from 7 new tracks will be added to BetMakers' Global Racing Network
- 4 Race Tracks in U.S. and 3 in Canada enter Agreements with BetMakers
- BetMakers has 10-year exclusivity on Fixed Odds in New Jersey
BetMakers Technology Group Ltd, through its wholly-owned subsidiary BetMakers DNA Pty Ltd, trading as Global Racing Network, has reached Agreement with various parties to manage Fixed Odds betting exclusively in the U.S. market.
These tracks will be available for betting initially in the New Jersey market and available to Operators that join the Global Racing Network ("GRN") within New Jersey, subject to regulatory approval.
The tracks are:
TRACK REGION -----------------------------------Emerald Downs Auburn, Washington (U.S.) Grants Pass Downs Grants Pass, Oregon (U.S.) Lone Star Park Grand Prairie, Texas (U.S.) Century Downs Alberta (Canada) Century Mile Edmonton (Canada) Assiniboia Winnipeg (Canada) Fairmount Park Collinsville, Illinois (U.S.)
Under terms of the agreement, which are commercially sensitive, BetMakers' GRN will pay fees which vary between revenue share and fixed fee to the 7 race tracks for the exclusive rights of Fixed Odds distribution in the U.S. state of New Jersey.
Further to this, the Agreement also specifies that BetMakers has exclusive Fixed Odds management and distribution rights for those 7 tracks within New Jersey and in addition, any state in the U.S. in which Fixed Odds wagering receives regulatory approval.
The GRN has now secured exclusive Fixed Odds rights for these U.S. and Canadian tracks and is able to provide the following product features to Wagering Operators: Data delivery, Price Manager, Enhanced data, Official Price fluctuations, Official Starting Price, Official deductions, Runner comments, Race overviews, Vision, Fields, Form (past performances) and Silks.
The Company has entered a 2-year contract with U.S. Data Rights provider, Equibase to be able to distribute its data to Operators on the Global Racing Network.
BetMakers CEO Mr Todd Buckingham said: "The latest U.S. tracks and Canadian tracks, along with the existing domestic and International content, will allow us to implement a racing solution into the U.S. that can show the benefit of Fixed Odds betting into this market. We believe this will be the start of a very successful roll out of the product across U.S. With the launch of GRN, this will allow for a uniformed network for both operators and race tracks to commercialise their content with full integrity."
Mr Buckingham added: "The GRN is a service for both Racing Bodies and Wagering Operators that allows Racing Bodies comfort that their product is being delivered correctly, integrity is monitored and they receive remuneration for all wagering on their product. For the bookmakers and Wagering Operators, the GRN will provide a full network of racing from around the world in a single solution that has uniformed reporting and costs."
The Company expects further tracks and more operators to join the GRN in the coming months.
About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (OTCMKTS:TPBTF) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.
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