OpenBet agrees deal to enhance TAB sportsbook in Australia

OpenBet is bringing its retail sports betting capabilities to Australia for the first time as part of a new sportsbook technology deal with Tabcorp.

OpenBet will integrate a series of online and retail products, including its fixed odds betting platform and trading system for its content portfolio, to enhance the offering of Tabcorp’s flagship brand, TAB.

OpenBet’s betting engine and advanced trading system will provide improved agility, scalability, and speed-to-market for new and differentiated products to enhance the Australian operator’s user experience and operational efficiencies.

“Being selected by Tabcorp to augment its user experience is an exciting move for us and further cements our position as a trusted provider of robust, hybrid products that drive growth,” said OpenBet chief commercial officer Cathryn Lai. “We’re looking forward to working alongside the TAB team and providing them with tailored products and services that will usher in a new era for its sportsbook offering.

“We have no doubt that the operator’s customer base will benefit from an enhanced experience through our unbeatable technology and trading services.”

OpenBet currently processes almost half of all digital sports bets placed in the Australian market, which will be significantly increased with this deal. It also marks the first time that its retail sports betting capabilities have been brought to Australia.  

“We’re thrilled to be strategically partnering with OpenBet to enable our growth ambitions and beyond,” said Tabcorp general manager of trading David Beirne. “The combined strengths of Tabcorp’s category expertise and internal capabilities and OpenBet’s advanced core creates a market leading relationship that will lead to increased customer engagement, market share and sustainable profitability.

“This partnership will propel Tabcorp’s trading capabilities to the top of the market as it will allow Tabcorp to utilise OpenBet’s cutting edge technology to deliver a first class digital and retail experience for our customers at pace in exciting and innovative ways. This partnership is a significant step forward in modernising and supporting our ambitious plans to deliver the next generation sports betting user journey.”

Shares in Tabcorp Holdings Ltd (ASX:TAH) closed 1.35 per cent lower at AUD$0.73 per share in Sydney Wednesday.