The Global Tote signs deal with the official UK Tote
Sydney, Dec 22, 2017 AEST (ABN Newswire) - The Board of TopBetta Holdings Limited (
ASX:TBH) ("TopBetta" or the "Company") is pleased to announce that its wholly-owned Alderney-based subsidiary, The Global Tote Ltd, has entered into an agreement with the Official UK Totepool, Totepool Alderney Limited ("Totepool"), to give it the ability to distribute its pools through 10,000 plus UK and European betting shops and some of the world's top global wagering websites.
Highlights
- Distribution opportunity to more than 10,000 United Kingdom ('UK') and European betting shops and top online wagering operators
- UK wagering operators can offer punters access into Global Tote pools on Australasian racing
- Integration of The Global Tote into UK Totepool systems expected to commence in January, 2018
Under the terms of the deal, UK wagering operators can offer punters access to Global Tote pools on Australasian Racing for the first time via the Totepool platform. Totepool is currently integrated into more than 9,000 betting shops in the UK and Ireland, as well as 5,000 outside of the UK, and is on some of the world's biggest betting company websites such as Betfred, Betfair, Skybet and Paddy Power.
The commercial in confidence agreement between The Global Tote Ltd and Totepool, a division of Betfred and the current exclusive operator of UK's racing tote, will commence on January 1, 2018 (with integration expected to follow soon after) and is subject to usual approvals from all racing bodies. Under the agreement, The Global Tote will receive a commission of 2% of the net pool distribution after payment of all applicable taxes, levies and racefield fees. (see Note below)
TopBetta Holdings Ltd CEO Todd Buckingham said:
"This is a major international distribution deal for The Global Tote. UK racing wagering operators will now be able to offer punters access to bet into The Global Tote pools on Australasian racing.
"By growing liquidity in these pools, The Global Tote can grow turnover and revenue for both the company and its new wagering partners, as well as deliver Australian racing bodies a slice of the global racing revenue pie through race field fees that they are currently not collecting. It's an unprecedented opportunity for racing bodies to deliver their product onto global wagering platforms where, subject to their approval, they not only get a clip of every bet struck, but the agreements will also meet Integrity standards that protect their product."
Betfred CCO Phil Siers said: "We are looking forward to integrating The Global Tote into Totepool's various distribution verticals including betting shops and our online and partner networks. We expect the integration work will begin in January and we aim to have punters in the UK able to access the pools in the first quarter of next year."
About The Global Tote:
The Global Tote Ltd is a wholly-owned subsidiary of TopBetta Holdings Ltd based in Alderney, UK.
It operates under a Category2 eGambling B2B wagering license granted by the UK's Alderney Gambling Control Commission.
Since it launched in May, 2017, The Global Tote has fielded on more than 1300 race meetings with unaudited turnover of more than $65million and the product is currently used by multiple bookmakers in Australia.
About Betfred and Totepool
Betfred was Founded in 1967 by Fred Done, originally called Done Bookmakers, but rebranded as Betfred in 2004. It has more than 1,650 Licensed Betting Offices (LBOs) and is the 4th largest bookmaker in the UK.
It employs over 10,000 staff and through Totepool is the sole Licensed operator of pool betting on British horse racing.
On 3 June 2011, Betfred won the auction to purchase the then Government owned Tote betting operation in a deal worth GBP265m. The deal gave Betfred exclusive control over the on-course betting system for seven years and also control of the 517 high street shops formerly owned by the Tote.
Totepool is currently integrated into more than 9,000 betting shops in the UK and Ireland and many more outside of the UK, and is available online at some of the biggest wagering websites in the world.
Note: 2% net pool distribution commission based on a pool deduction of 15%. If the pool deduction rate is higher or lower than 15%, the commission will be prorated accordingly.
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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