The variable revenue model enables BetMakers to earn between 0.5%-3% of client racing turnover, whilst providing the clients with a flexible cost base. This model is expected to improve revenue, profits and growth compared to the traditional fixed fee model.
The key contributors to this shift are our products such as content distribution (i.e. the Global Racing Network), white label platform offerings, and Managed Trading Services.
- Racing from around the world generates in excess of $180bn in annualised turnover from more than 70 countries
- While all countries offer Pari Mutuel betting, only 9 countries currently offer Fixed Odds betting on their racing . BetMakers sees this as a significant opportunity to expand and grow racing Internationally.
- The U.S. Racing industry generates more than AU$3bn in annualised revenues from $16bn in turnover.
- The Company sees racing as a key component of the U.S Sports betting market and believes operators will need a racing solution to fit alongside its sports offerings.
- BetMakers, as announced to the market, has signed an exclusive 10 year deal to manage Fixed Odds betting on horse racing in New Jersey on behalf of Monmouth Park and NJTHA, subject to obtaining regulatory approval.
SCALING UP FOR GROWTH
- The company has seen a significant uplift in enquiries for its products and services.
- Importantly our proprietary Managed Trading Services solution has been keenly sought after both domestically in Australia and into the U.S. as a stand alone product.
- To meet these needs, the Company has begun scaling up its staff across the group domestically and internationally, with a particular focus on bolstering the U.S. team.
- 2nd half of FY2020 saw an almost 50% increase in headcount and we continue to recruit quality staff across the group.
- Our U.S. expansion will see a number of key hires in FY2021 ensuring that BetMakers capitalise on the unique deals it has already announced and continue delivering new opportunities in this market.
- BetMakers is in the process of building a global racing data and technology business.
- With its successful Capital Raise in FY2020, and strong balance sheet, the Company is now well positioned to look for opportunities within global wagering markets, in particular horse racing.
- The Company is currently looking at a number of strategic opportunities that complement its existing offering, both domestically and Internationally.
- The company will look at opportunities within global racing whereby it can leverage its technology and distribution network to drive value accretion.
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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