Kwiff Extends BetMakers Agreement
Author:
Megan Butler
Supercharged betting service Kwiff has extended its partnership with BetMakers Technology Group. The expanded agreement will see customers gain access to a huge portfolio of international horse and greyhound racing content. Kwiff will also utilize BetMakers’ Price Manager System in tandem with its own proprietary trading technology and risk systems.
Sports fans will be able to enjoy access to more than 250,000 global races.
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International Racing Portfolio
BetMakers Technology Group has revealed that it has extended its agreement with British bookmaker Kwiff. The partnership is set to continue, offering its renowned ‘supercharged’ service. The extended partnership will ensure that Kwiff’s customers have continued access to more than 250,000 races annually.
BetMakers is an Australian firm that specializes in developing software, data and analytic products for the B2B betting market. It is also engaged in the production and distribution of horse and greyhound racing content. Amongst its segments are Global Racing Network, Global Tote and Global Betting Services.
Via its Global Racing Network, BetMakers supports racing bodies and rights holders in creating and distributing racing content. Its services include official price calculation, barrier technology and pricing distribution. Its Global Tote segment is concentrated on the provision of tote software, while its Global Betting Services segment offers punters a broad range of racing software, data and analytics.
Since its founding in 2017, the company has gone from strength to strength and is now listed on the Australian Securities Exchange, better known as the ASX. Alongside its market-leading sportsbook suites, BetMakers offers a full set of casino tools and services.
The newly extended agreement with Kwiff will grant sports fans in the UK continued access to its worldwide racing portfolio, consisting of more than 250,000 races a year from over 20 countries. Kwiff will also integrate the BetMakers Price Manager System, which will be utilized alongside its own proprietary trading technology and risk systems.
Supercharged Betting
Speaking on behalf of the British sportsbook, Kwiff CEO Charles Lee explained why the pairing has proved to be a perfect partnership. Since its launch in 2015, Kwiff has sought to make betting bigger, better and more entertaining. It prides itself as a player focused operator with a keen eye for innovation.
What sets Kwiff apart from its competitors is its unique supercharge offering. All bets placed through Kwiff, regardless of the sport or stake, have the opportunity to be ‘kwiffed’. For customers this means that their odds could be significantly boosted. In tandem with its betting products, Kwiff offers players a variety of casino products via its app.
The CEO stated that the technological approach of the BetMakers team paired well with that of its own in-house teams. Since the initial launch of the partnership, it has witnessed racing increase in popularity within its supercharged sportsbook. Lee added that he is delighted at the opportunity to continue the partnership.
Earlier this year, Kwiff also expanded its agreement with Xtremepush. The partnership, which is focused around its omnichannel CRM capabilities, began with a preliminary deal in September 2022. In March of this year, the sportsbook gained access to Xtremepush’s Omnichannel Customer Engagement and CDP platform.
Chief Revenue Officer at Xtremepush, Rob Pryce, said at the time that he was pleased to be deepening the company’s strategic relationship with Kwiff. Xtremepush’s interface uses a ‘holistic overview’ of player behavior, allowing Kwiff to provide an automated, personalized and responsible player communication offering.
Shares in BetMakers Decline
While BetMakers is based in Australia, it has successfully established market positions in North America and Europe. The extension of its partnership with Kwiff comes as its second Europe-orientated deal this year, following an agreement with 1/ST Content last month. The non-binding agreement targets a number of international markets, including the UK and Ireland.
The partnership will also focus on delivering BetMakers’ North American racing content across international betting markets. Fans can look forward to fixtures from top race tracks, including Kentucky Downs, Mahoning Valley, Charles Town, Sam Houston, Penn National, Zia Park and Monmouth Park.
The partnership is a significant addition to BetMakers’ Global Racing Network, broadening its global racing distribution base. The races will be incorporated into 1/ST Content’s broadcast schedule, which includes Sky Sports Racing in the UK and Ireland. 1/ST Content is part of The Stronach Group, and has been accumulating a considerable portfolio of US horse racing content.
Despite BetMakers’ industry success, it has not all been plain sailing for investors. At the end of April, it was revealed that stock had plummeted in value and was down 70% in just one year. The share price has declined by 31% in the last 90 days. The news hasn’t been so bad for longer term shareholders though, with stock down 29% in the last three years.
BetMakers is not currently profitable, so most investors would look towards revenue as an indicator of the company’s growth. Revenue has increased at BetMakers by 71% in the last twelve months. The decline in its share price therefore comes as somewhat of a surprise, and could be linked to a poorly performing acquisition.
