Last updated: April 12, 2024
BetMakers acquires ProForm and Odds Engine from Racelab Global, bolstering its wagering offerings with enhanced informatics and pricing tools. The AU$1.5m acquisition aims to improve BetMakers’ technology ecosystem, expand harness and greyhound services, and foster collaboration with SIS for product development. CEO Jake Henson anticipates significant value and revenue growth from the deal.
Racelabs Global, an entity that enables people to bet on horse races by providing the necessary products and processes, has proved to have gained an advantage in the sense that its assets have become possessed by the company known as BetMakers.
On the other hand, ProForm was my operational as well as financial tool, while Odds Engine was my technical asset. ProForm`s tech has been introduced recently to other parts of the Betmaker systems, namely race day controls, form, and streaming, besides, data and wrapping of the content. To offer informatics and improved content. Different to the Odds Engine, which is finalized to be of great benefit to the company trading and pricing precision — it, in turn, will help in raising the fairness of betting markets.
However, the platform has a quick break-even point. Given that the setup cost at AU$1.5mn ($1mn) only, the group could recuperate in as little as a month, provided that important customer activity is forthcoming.
The roadmap states that the received technologies will improve current software and enhance machine learning algorithms which in turn will allow BetMakers to grow its harness and greyhounds services and access the racing industries.
Additionally, the jurisprudence will result in BetMakers’ longstanding cooperation with SIS since the latter will be free to construct its exclusive and privileged products using a new technology.
With the valorization of the acquisition, Jake Henson expresses a positive attitude that the assets that are coming to the possession have a great potential for the company. He wanted to highlight the fact that the company would use the obtained technology to advance the firm’s racing ecosystem; thus, the operators and rightsholders all over the world will reap benefits from it. Henson showed optimism over the capacity of the company to create much value to contribute to the income boost as well as revenue and earnings growth in the final year of the period, that is, fiscal year 2025 and beyond.
A few weeks after leaving the role of BetMakers’ CFO in March, Mr. Anthony Pullin has been with the company for more than five years now. The following day, BetMakers and GiG announced their cooperation, in which BetCaster will be a service provided to GiG’s sportsbook, SportX.
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