TPBTF - Betmakers Technology Group Ltd (TPBTF) Completes Punting Form Acquisition
Sydney, Australia (ABN Newswire) - Further to the announcement released on 24 October 2022, BetMakers Technology Group Limited (ASX:BET) (OTCMKTS:TPBTF) is pleased to announce that it has completed the acquisition of ABettorEdge Pty Ltd ACN 155 963 401, trading as "Punting Form".
Punting Form uses proprietary IP and artificial intelligence to create sectional times and benchmarks for horse racing which are used for time-based ratings systems. The Company believes that this acquisition will further strengthen BetMakers' position as one of the leading global providers of B2B data and technology services for horse racing.
As previously announced, the Company views this asset as strategically important, adding world-class technology that BetMakers' management believe will help drive margin improvement and create new revenue streams across the business. Benefits are expected to include:
- Global Betting Services: For our platform and Managed Trading Services customers it will mean improved back-end tools, more efficient pricing and improved relative trading margins
- Global Tote: An opportunity to leverage the existing Punting Form relationships powering racing syndicates to drive more liquidity in existing and new markets for our racetrack partners
- Global Racing Network: Improved pricing and increased confidence in overseas content will enable BetMakers to package up existing form, with the Punting Form time factors, vision, pricing and trading for a complete product offering.
- US Fixed Odds: The increase in race timing quality will ensure BetMakers' proprietary ratings engine is powered with the cleanest and most accurate data, facilitating wagering operators shift from tote products to fixed odds Punting Form will become part of BetMakers' Global Betting Services division.
Punting Form uses proprietary IP and artificial intelligence to create sectional times and benchmarks for horse racing which are used for time-based ratings systems. The Company believes that this acquisition will further strengthen BetMakers' position as one of the leading global providers of B2B data and technology services for horse racing.
As previously announced, the Company views this asset as strategically important, adding world-class technology that BetMakers' management believe will help drive margin improvement and create new revenue streams across the business. Benefits are expected to include:
- Global Betting Services: For our platform and Managed Trading Services customers it will mean improved back-end tools, more efficient pricing and improved relative trading margins
- Global Tote: An opportunity to leverage the existing Punting Form relationships powering racing syndicates to drive more liquidity in existing and new markets for our racetrack partners
- Global Racing Network: Improved pricing and increased confidence in overseas content will enable BetMakers to package up existing form, with the Punting Form time factors, vision, pricing and trading for a complete product offering.
- US Fixed Odds: The increase in race timing quality will ensure BetMakers' proprietary ratings engine is powered with the cleanest and most accurate data, facilitating wagering operators shift from tote products to fixed odds Punting Form will become part of BetMakers' Global Betting Services division.
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.
Source:
Betmakers Technology Group Ltd
Contact:
Charly Duffy
Company Secretary
E: companysecretary@thebetmakers.com
M: + 61-409-083-780
Jane Morgan
Investor and Media Relations
E: investors@thebetmakers.com
M: +61-405-555-618