Wagering technology firm, BetMakers, has secured vital resources from Racelab Global, a supplier of horse racing solutions and technology. The transaction, valued at $1.5 million AUD (approximately $1 million USD), focuses on Racelab’s ProForm and Odds Engine offerings.
ProForm, a data analysis instrument that improves racing material, will be incorporated into BetMakers’ current framework. This framework already encompasses race-day management, data streams, and broadcasting services, making ProForm a seamless addition. Conversely, Odds Engine strengthens BetMakers’ pricing and trading capacities, striving to deliver enhanced precision to the wagering arena.
This calculated maneuver is anticipated to achieve more than simply augmenting BetMakers’ technological suite. It’s perceived as an entry point to broaden their footprint in the horse and greyhound racing sectors. Furthermore, the acquisition is poised to bolster BetMakers’ existing collaboration with SIS (Sports Information Services), enabling SIS to utilize these novel technologies for their own product advancement.
The company was truly thrilled with the purchase, believing it will significantly impact their bottom line, leading to a substantial increase in income and earnings beginning in the subsequent financial year.
This strategic decision follows the exit of Anthony Prin, who held the position of Chief Financial Officer for the preceding five years, which occurred in March. However, BetMakers acted swiftly to establish a new alliance, promptly revealing an agreement with GiG to support their SportX sports wagering platform.
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