Ladbrokes Australia has become the first operator to sign up for The Global Tote, a new wagering product set to launch next month from Sydney-listed B2B provider TopBetta Holdings.
The deal allows Ladbrokes.com.au to offer customers access to tote betting which combines online racing and sports wagering with a fantasy wagering platform.
“We are always looking for an edge and ways to value add through better products and services to our customers,” said Ladbrokes Australia CEO Dean Shannon. “The Global Tote is a solid initiative with significant upside for operators as well as delivering more choices to clients seeking the best odds. We look forward to kicking off as soon as possible.”
Integration with the operator’s platform is scheduled to begin next week, ahead of the product’s official launch next month.
“It’s exciting that The Global Tote has its first big corporate bookmaker on board and this new tote will enhance wagering outcomes for not only Ladbrokes Australia, but operators, punters and racing bodies on a global scale,” said TopBetta CEO Todd Buckingham.
“This is another key step along the journey for The Global Tote. Having one of Australia’s largest and fastest growing bookmakers on board really supports what we believe is the most disruptive product in wagering.”
The Global Tote is licensed as a B2B wagering product in Alderney, and has been approved by various racing authorities across Australia, including Racing New South Wales, Greyhound Racing Victoria, Racing Queensland, Racing Victoria, and Canberra Racing Club.
Shares in TopBetta Holdings Ltd (ASX:TBH) soared by 42.11 per cent to close at AUD$0.27 per share in Sydney Thursday.