Australia's Top Rails Bookmakers Sign Deals to Launch Online
- Rob Waterhouse to enter online wagering market in new deal with BetMakers
- Mark Sampieri signs with BetMakers to take on-course bookmaking business digital
- Deals will see two big on-course brands launch new online operations in June
- BetMakers to provide technology products and services under new agreements
BetMakers has agreed to commercial terms to provide each bookmaker with new technology platforms and automated products, including trading and pricing solutions, for their respective online businesses.
Sydney's Rob Waterhouse, is one of Australia's most prominent rails bookmakers and racing identities, and the Sampieri name is the longest serving rails bookmaker in Victoria at over 40 years at the track with Mark and his father Graeme forming Victoria's 1st bookmaker partnership in 2006.
Waterhouse and Sampieri have each indicated to BetMakers that they intend to go live with their new online operations in June this year.
Rob Waterhouse commented: "I am very excited to be launching my bookmaking business online with the BetMakers."
"These are challenging times for on-course bookmakers, so to have a technology solution such as the platform that the BetMakers have developed is the perfect fit for traditional bookmakers like myself to be transitioning into the digital world and making a play in the online wagering market."
Mark Sampieri commented: "We are really looking forward to entering into this online venture and could not be happier with what the BetMakers team has been building for us as a technology solution. In addition, the trading and pricing solution will now allow us to take bets on many more race meetings than we are currently able to do."
While the deals are commercially sensitive, the BetMakers' model, which is available to all on-course bookmakers looking to transition online, has three commercial components as options: fixed-fee based, turnover-based and profit-share models.
BetMakers CEO Todd Buckingham commented: "The Waterhouse name needs no introduction, it has been a powerhouse in bookmaking spanning three generations, while the Sampieri family has been successful in bookmaking in Victoria since 1966."
"The new deals with these well-known Waterhouse and Sampieri brands are exciting for BetMakers as we continue to see a rise in opportunities for traditional bookmakers - big and small - to extend their operations into a 24/7 online wagering world."
"To have the both operations trust us to power them with technology and services into the online wagering space is another big win for our team."
In a separate agreement, BetMakers is also pleased to announce it has entered into a commercial partnership with international gaming company Pronet Gaming.
The deal allows Pronet Gaming to offer its customers BetMakers racing solution, a world-class selection of more than 250,000 horse and greyhound racing events per year, alongside its sports, casino and retail offerings.
Pronet Gaming, with commercial operations based in London, Johannesburg and Singapore, handles more than three million individual transactions each day through its sportsbook division and has chosen BetMakers to supply and manage its racing coverage and trading solutions.
Pronet Gaming CCO Bobby Longhurst commented: "It's important for us to hit the ground running when live sport returns and the addition of BetMakers Technology Group's product will help us achieve that.
"It's a truly unique product and to be able to provide as comprehensive offering for racing as this solution, it's something our customers will be excited about."
The Board notes the apparent success of other on-course bookmakers who have extended their traditional services online through agreements in partnership with the BetMakers. However, in determining a basis to estimate the materiality of the respective individual Waterhouse and Sampieri deals on BET's financial performance, the Board notes that BetMakers, as technology and services providers, has no direct involvement in the sales and marketing strategies of each bookmaker's operations.
Although both Waterhouse and Sampieri are the biggest on-course bookmaking operations to have signed commercial agreements in partnership with BetMakers, the Board notes that each of the Rob Waterhouse and Marc Sampieri brands is entering into the online wagering space for the first time as new ventures.
However, in the Board's opinion the combined impact through these new deals on BetMakers' revenue has the potential to be material.
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