Sydney-listed betting operator and B2B provider TopBetta Holdings has significantly expanded its pool betting operations in the United Kingdom through a deal with Betfred’s Totepool.
The deal allows some of the UK’s largest betting operators to offer their players access to Global Tote pools on Australasian racing for the first time via the Totepool platform.
Totepool is currently integrated with more than 9,000 betting shops in the UK and Ireland, as well as 5,000 outside of the UK. It is also live online with leading operators Betfred, Betfair, Skybet and Paddy Power.
The agreement between The Global Tote and Totepool, a division of Betfred and the current exclusive operator of UK's racing tote, will commence on January 1, 2018, subject to usual approvals from racing bodies.
Under the agreement, The Global Tote will receive a commission of 2 per cent of the net pool distribution after payment of all applicable taxes, levies and racefield fees.
"This is a major international distribution deal for The Global Tote,” said TopBetta Holdings chief executive Todd Buckingham. "By growing liquidity in these pools, The Global Tote can grow turnover and revenue for both the company and its new wagering partners, as well as deliver Australian racing bodies a slice of the global racing revenue pie through race field fees that they are currently not collecting.
“It's an unprecedented opportunity for racing bodies to deliver their product onto global wagering platforms where, subject to their approval, they not only get a clip of every bet struck, but the agreements will also meet Integrity standards that protect their product."
Betfred chief commercial officer Phil Siers added: "We are looking forward to integrating The Global Tote into Totepool's various distribution verticals including betting shops and our online and partner networks.
“We expect the integration work will begin in January and we aim to have punters in the UK able to access the pools in the first quarter of next year."
Shares in TopBetta Holdings Ltd (ASX:TBH) soared by 17.46 per cent to close at AUD$0.37 per share in Sydney following the announcement Friday.