TBH announces launch of The Global Tote
- Innovative B2B wagering product 'The Global Tote' expected to launch in December
- UK licence (Alderney) secured for 'The Global Tote'
- Racing Victoria approval granted for thoroughbred racing
- Canberra Racing Club approval granted for thoroughbred, harness and greyhound racing
- Opportunity to take Australian racing to global markets
- 'The Global Tote' is a wholesale tote available to International and Australian bookmakers to offer their clients
- 'The Global Tote' benefits bookmakers, punters and the racing industry, delivering new revenue streams from international markets
The Global Tote is expected to go live in December 2016, and, for the first time, the product will enable licensed wagering operators from all over the world to participate in a global pool. International thoroughbred racing fixtures will be the first pooled products to launch, with other racing and sports products to follow in 2017.
The announcement follows the grant of an eGambling licence for The Global Tote product to The Global Tote Limited through the Alderney Gambling Control Commission (announced to the ASX on 16 September 2016) and significant beta testing of The Global Tote's custom-built technology platform.
The Global Tote Limited is also in discussions with other Australian and International racing bodies across all racing codes and working with Australian and International bookmakers regarding offering The Global Tote through their existing online channels.
TopBetta's CEO, Todd Buckingham, said:
"The launch date marks a significant milestone for the Company as we believe The Global Tote offers an innovative wagering product with global reach, and one that punters will love. Globalisation of wagering will enable local racing bodies to generate additional racefield revenues from overseas wagering operators."
The Global Tote Limited will monetise The Global Tote platform through charging participating bookmakers and operators a percentage of wagering turnover.
"I am excited about using this product for our existing TopBetta business as our customers will be offered additional wagering products on international and local racing and sporting events," Mr Buckingham said.
"Over the past six months The Global Tote Limited has finalised the platform, gained licence approval and have been in discussions with some of the world's biggest punters, bookmakers and racing organisations about creating liquidity and a fair market for participants."
"The Global Tote is one global pool which creates better liquidity and wagering value for punters."
The licence granted to The Global Tote Limited allows the company to provide a B2B totalisator to existing licensed operators, globally.
The Alderney Gambling Control Commission is one of the most respected in gaming and licence products, and used by some of the world's biggest brands including Bet365, Paddypower, Skybet, Unibet and Ladbrokes.
International wagering operators will now have the ability to bet into wagering markets across the world via a pool that is regulated and accords with all integrity requirements.
The Global Tote utilises custom-built technology which is specifically designed for the online wagering market.
Some key features of 'The Global Tote' platform include:
- Unlimited event creation - allows the opening of events days/weeks in advance.
- Unlimited runners - not limited on how many runners for each event.
- Unlimited pools - no limit to the traditional products that are offered by existing totes.
- Multi-currency pools - allows pools to be combined across jurisdictions and regions.
- Multi price single pool - catering for Point of Consumption (POC) taxes, The Global Tote allows for cross jurisdiction pooling.
- Split operator pooling which allows large volumes of transactions simultaneously.
Who benefits from The Global Tote
1. Racing bodies
The Global Tote can potentially generate new revenues for racing bodies as they expand into global markets.
The Global Tote will create a licensed and regulated market for punters to bet into on all approved meetings across the globe. Racefield fees and/or equivalent taxes will be paid to racing clubs and bodies that are accessible through The Global Tote.
The Global Tote enables punters to bet into larger international pools which creates substantially greater liquidity and competitive "take-out" rates.
The Global Tote aims to provide better returns for wagering participants.
The Global Tote intends to innovate wagering pool markets through a variety of new betting products to be launched in 2017.
Wagering operators, including Corporate Bookmakers and tote operations, will now be able to offer a product with reduced risk and higher liquidity. The Global Tote Limited believes that this will increase turnover, which, in turn, has the potential to provide a substantial increase in net margins across a range of products.
The Company looks forward to updating the market as racing bodies and wagering operators around the world come on board as part of the launch of The Global Tote.
About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (FRA:T07) 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.
Betmakers Technology Group Ltd