TopBetta Holdings Ltd (ASX:TBH) ("the Company") is pleased to announce it has secured a commitment from one of Australia's top punters to bet an estimated $AUS200 million into The Global Tote pools available via the Company's 'TopBetta' platform over the next 12 months (see Note below).

- New commercial agreement will provide liquidity for Global Tote racing pools.
- Agreement expected to generate up to $4M new revenue for Australian racing bodies.

The agreement between TopBetta Pty Ltd ("TopBetta") and leading Australian racing form analyst and punter, Sean Bartholomew, will see Mr Bartholomew bet an estimated AUD$200 million into The Global Tote win and place pools operating with respect to Australian races over the next 12 months ("Agreement").

While the terms of the agreement are confidential, the Company did not expect to profit directly from Mr Bartholomew's bets, however, the liquidity provided by the agreement is a significant base for The Global Tote and expects such liquidity to drive an increase in punter numbers and revenue.

Mr Buckingham explained:

"It is expected the commercial benefits of the new agreement for TBH will be the significant new liquidity levels of The Global Tote's pool size and the highly competitive take out rate that will attract further strong wagering by punters."

"This guarantee of substantial liquidity over the next 12 months in The Global Tote's pools is very significant. The deal lays the foundation for the business to attract bookmakers and punters anywhere in the world to now access these pools confidently. Based on our internal historical data, wagering turnover can be grown to a multiple of two to three times the initial liquidity on those race meetings, as well as create a whole new revenue stream of race field fees for racing bodies that they don't currently receive."

Sean Bartholomew said:

"The Global Tote is the fairest system I have seen for any punter - big or small - because it has the lowest take-out rate, and I want to back its growth for both the initial benefit of punters generally and the racing industry in Australia more broadly. I truly believe The Global Tote is the future of punting by creating big, aggregated pools for every punter in the world to bet into in a transparent way that delivers the fairest returns for punters and gives money to racing clubs that they are currently not getting because punters like myself do not generally bet into existing pools. The access to international pools like this is the key for punters and the future for racing codes around the world. It means more punters like myself can confidently bet into regulated pools, and the more big punters who can get set, the better it is for smaller punters also."

In consideration for Mr Bartholomew's services, the Company has agreed to issue to Mr Bartholomew 2 million unquoted options exercisable at $0.20 within 3 years of the date of issue (Options), vesting at 5pm on 30 June 2018 if, by that time, Mr Bartholomew has complied with his obligations to bet the relevant amount into TopBetta in 11 of the 12 prior months. Each Option is exercisable into one fully paid ordinary share in the capital of the Company.

Note: Calculation based on minimum bet amounts agreed by Mr. Bartholomew over the Australian races forecasted over the 12 month period.

To view Appendix 3B, please visit:
http://abnnewswire.net/lnk/33YG574N


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.

    

Contact

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

Jane Morgan
Investor and Media Relations
E: investors@thebetmakers.com
M: +61-405-555-618



Link: One of Australia's biggest punters bets on the Global Tote


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