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BetMakers secures Jamaican fixed odds racing contract

23rd December 2020 9:49 am GMT

Sydney-listed betting technology supplier BetMakers has won a five-year contract to provide managed trading services and data distribution to Jamaican betting and gaming operator Supreme Ventures.

The deal will see BetMakers manage fixed-odds horse race betting in the market through its Managed Trading Services subsidiary, covering Jamaican and international race meetings and retail and online betting channels.

BetMakers will also distribute racing data and odds from Jamaica’s Caymanas Park racetrack on an exclusive basis to international online betting operators.

“We are excited to partner with Supreme Ventures and Caymanas Park to bring fixed-odds betting on horse racing into Jamaica and to export the Caymanas Park race meetings through our Global Racing Network to the rest of the world,” said BetMakers chief executive Todd Buckingham.

“This new deal again highlights our business model and intentions to partner with regulated race tracks and licensed wagering operators across the world to help sustain and grow any region’s recing industry through a globalisation of racing using BetMakers’ data and technology platforms.”

Buckingham added that the economic impact of the deal is hard to quantify, although the board of BetMakers’ believes it will have a material impact on revenue once the commercial arrangements have been implemented.

Supreme Ventures chairman Gary Peart said that the fixed odds innovation that BetMakers has championed in North America will deliver a huge benefit to the global racing industry as it competes against other sports in an increasingly competitive sports betting market.

“We are very proud to be one of the first tracks that will implement the sophisticated fixed odds system that BetMakers provides, and we see this new deal as a major transformational change for the Jamaican horse racing industry,” Peart added.

“What BetMakers are bringing to the table for Supreme Ventures and Caymanas Park provides the racing industry in Jamaica with a tremendous boost and opportunity for major growth as well as vastly benefitting the Jamaican betting public.”

Shares in BetMakers Technology Group Ltd. (ASX:BET) closed 6.38 per cent higher on the news at AUD$0.75 per share in Sydney Wednesday, having set a new 52-week high of $0.795 per share a day earlier.

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