Sydney, July 21, 2017 AEST (ABN Newswire) - The Board of TopBetta Holdings Limited (ASX:TBH) ("TopBetta" or the "Company") is pleased to announce that it has received its licence from the UK Gambling Commission for both TopBetta Pty Ltd and its wholly-owned subsidiary The Global Tote Ltd.

Highlights:

- TopBetta receives licence to operate in the UK

- The Global Tote receives UK licence to provide facilities for pool betting

- TopBetta's technology development division granted licence to develop and deliver products into the UK

The UK licence for TopBetta allows the Company "to provide facilities for real event betting", and the licence for The Global Tote allows it "to manufacture, supply, install or adapt gambling software; to provide facilities for pool betting".

The licences now allow the Company to launch the retail TopBetta business, and The Global Tote Ltd to launch its wholesale B2B platform, The Global Tote, into the UK market.

TopBetta's CEO Todd Buckingham said: "The approval of the UK licence has been a key part of the Company's growth strategy. This has been an extensive process that has taken almost 12 months to complete and we are excited about the opportunities in the UK jurisdictions, in particular for The Global Tote product, which is licenced in the British Isles and operated through our Sir Lankan office."

"Getting access to a new market of retail punters for The Global Tote pools will be instrumental in getting more liquidity into each pool from both the domestic and International punters."

"We are also on the lookout for opportunities in the UK market for our B2C offering and will be looking forward to updating the market as these opportunities materialise."

Global Tote Licence

The licence will allow the Company to execute a number of initiatives, with one of the most significant being the export of Australian racing into the UK markets.

TopBetta's CEO Todd Buckingham said: "Under the licence, The Global Tote pools will be available to UK bookmakers and they will be able to offer Australian racing to their clients. We believe giving access to the UK operators into The Global Tote will significantly increase the "retail" component of the pools on Australian racing.

"This is a significant step towards global distribution of racing content, in particular for Australian racing bodies, to not only monetise but also have tighter controls for the integrity of wagering on their content. Operators globally will be required to have agreements in place with the relevant racing bodies in Australia and agree to contribute to the race field fees which will provide revenues for the Australian racing industry with clear transparency on who is betting on their product."

The Company has previously announced a global distribution deal with British racing to allow wagering operators the ability to bet into the same pools from any location globally.

The Company has also announced distribution rights for the British and Irish greyhounds, which includes vision rights for these events.

The Global Tote expects to be live with both racing and greyhound products on UK racing before the end of the year.

TopBetta Licence

TopBetta has been granted a licence to accept consumer customers from the UK. The consumer facing platform in the UK gives access to many more products that are available, including In-Play betting, online bingo, casino and Poker products. The licence "to provide facilities for real event betting other than pool betting or betting on virtual events" also allows TopBetta's plans for its fantasy wagering tournaments in the UK.

OM Apps licence

TopBetta's technology development arm has also been granted a licence to develop and deliver products into the UK market. This is an important step for the Company to have the ability to roll out new and innovative products for the UK market.


About Topbetta Holdings Ltd

TopBetta Holdings Limited ASX TBHTopBetta Holdings Limited (ASX:TBH) is licensed to conduct race wagering and sports betting under the Bookmakers and Betting Exchange Act 1998 (Northern Territory).

The Company has built proprietary technology platforms that combine an online racing and sports wagering offering with a fantasy wagering platform and enables sports fans to compete against each other via online tournaments.

     


Contact

Charly Duffy
Company Secretary
E: companysecretary@topbetta.com
T: +61-409-083-780

Jane Morgan
Investor & Media Relations
E: investors@topbetta.com
T: +61-405-555-618



Related Companies

Topbetta Holdings Ltd

ABN Newswire This Page Viewed:  (Last 7 Days: 16) (Last 30 Days: 141) (Since Published: 932) 
ANALYTICS: LOGIN HERE

Topbetta Holdings Ltd NEWS: RECENT VISITS (5107)

Social Media