- Agreement with IRD now completes the loop for The Global Tote to offer a single tote platform with all features to online bookmakers around the world
- The Global Tote suite of products, including Fixed Odds, now offers wagering operators a one-stop shop for racing products
The Global Tote has executed a licence Agreement ("the Agreement") with global wagering market technologies and proprietary trading products company, International Racing Data Limited ("IRD").
The Agreement provides The Global Tote with a non-exclusive licence to distribute customised products such as Fixed Odds, Fixed Odds Exotics and a range of Racing Informatics such as Speed Maps, Ratings, Runner Comments, Race Overviews, Market Movers and Results as well as a range of tote derivative products to wagering operators (in Australia, New Zealand and the United Kingdom (and any other territory agreed between the parties)).
The deal covers all thoroughbred, harness and greyhound events, and initially will concentrate on all forms of Australian racing to accompany the distribution deals that The Global Tote already has in place.
This is in addition to the B2B pooled betting totalisator product it currently offers under licensing regulations in Alderney (UK), which is used by wagering operators to manage their current books and derive pricing for products, and the new products can be made available to any party to which The Global Tote has secured distribution deals with prior to this announcement along with any future deals The Global Tote signs.
TopBetta Managing Director, Mr Todd Buckingham, said: "This completes the loop for The Global Tote to be able to offer a single integration point for a racing solution including tote platform, fixed odds products and all the latest racing informatics, graphics and data services to online bookmakers. It is something we have been looking at for a long time, to get The Global Tote's wholesale business able to be a one-stop shop for the global distribution of racing products.
"Wagering Operators can take any part of it, or the lot, but we believe a key attraction will be access to all of the data required to bet on events from a single integration - and on top of all that it scales across codes and fixtures to increase product offerings, along with customer engagement, that can in turn, generate better revenues with fewer overheads."
Mr Buckingham added: "We will be able to cover all thoroughbred, harness and greyhound events and will initially concentrate on all forms of Australian racing to accompany the distribution deals The Global Tote already has in place. We believe this is the most comprehensive offering available in the market and this solution will now put The Global Tote at the forefront of any wagering operator's requirements in running a racing book."
Under terms of the commercial in confidence deal, each party will share revenue generated by distribution of the new products. All Wagering Operators will require regulatory approvals in their respective jurisdictions along with integrity agreements with racing bodies.
Other material terms of the Agreement are as follows:
- The Global Tote must pay IRD a monthly licence fee calculated as a percentage of the commissions charged by The Global Tote to WWOs for wagers utilising IRD's licensed products;
- either party may terminate the Agreement without cause upon providing 90 days written notice or otherwise immediately for cause;
- The Global Tote may terminate the Agreement immediately if there are any legal or regulatory changes that force The Global Tote to cease conducting its business; and
- the Agreement is governed by the laws of the Isle of Man.
International Racing Data Limited specialises in the provision of global wagering market technologies and proprietary trading products and services that include fixed odds pricing and informatics.
About The Global Tote Limited
The Global Tote Limited operates a wholesale tote product which enables licensed wagering operators, including Corporate Bookmakers and tote operators from all over the world to participate in a global pool.
About Topbetta Holdings Ltd
TopBetta 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.
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