BetMakers Technology Group announced that it has acquired assets of RACELAB, a leading international supplier of enhanced racing wagering products and technologies. According to the report, the former company will pay a total of AUD 1.5 million ($980,000) in cash with a clawback of up to AUD 500,000 ($326,000) dependent on key customer novation within 30 days.
The acquisition, BetMakers said, would add leading race forms, preview and statistics tech to its business. In addition, the company will secure access to RACELAB’s proprietary fixed odds pricing tech and associated algorithms.
The acquisition will allow BetMakers to potentially expand its services in the harness and greyhound racing sectors. The deal will also provide an ongoing partnership with SIS to develop products and services for the latter company’s client base.
Thanks to the deal, BetMakers will get access to RACELAB’s ProFORM and ODDS ENGINE solutions. The former provides premium informatics and enhanced content that will complement other critical BetMakers services. ODDS Engine, on the other hand, will further enhance the existing BetMakers pricing and trading capability and tools, bolstering the accuracy of betting markets and bringing new betting products into the mix.
The Unique Set of Assets Will Complement BetMakers’ Portfolio
BetMakers’ chief executive officer, Jake Henson, also commented on the matter, saying that his team is very pleased to have secured this “unique set of assets.” According to him, the new RACELAB assets hold tremendous potential for his company.
We have acquired market-leading technology that further broadens the capabilities of BetMakers’ racing ecosystem for both wagering operators and rights holders alike, across the globe.
Jake Henson, CEO, BetMakers
Henson added that his team is happy about the opportunity to add RACELAB operations to its existing global infrastructure. He said that the transaction is set to drive new revenues via his company’s existing sales channels.
Henson vowed to continue developing upon the strategic vision of both ProFORM and ODDS ENGINE.
We are very confident in our ability to deliver substantial value from this acquisition, and to contribute towards both revenue and earnings growth in FY25 and beyond.
Jake Henson, CEO, BetMakers
In a separate statement, BetMakers is currently considering an amendment to its platform and services agreement with Betr ahead of its acquisition by BlueBet Holdings.