3 minute read
Racing and Sports enters the lucrative Risk Managed Trading Service space on a deal with next gen betting platform Picklebet.
Leading sports wagering data provider RAS Technology Holdings (ASX:RTH) has cracked a new vertical signing a two-year contract with one of the pioneers of the regulated esports betting industry, Picklebet.
Under the deal, RAS will provide Risk Managed Trading Service (RMTS) and its industry leading customer-facing content to power Picklebet's racing product.
RMTS helps sports wagering companies to boost margins and profits and improve customer experience by efficiently managing trading risk and liability using analytics and automation.
A Next-Gen Frontier
Picklebet's next gen sports wagering and entertainment platform sits at the intersection of esports, younger trending sports, and internet culture.
RAS CEO Stephen Crispe told Stockhead the partnership complements the company's existing esports and sports products offering, which is designed to attract a younger demographic.
"Picklebet is an exciting and innovative business putting its own spin on the Australian wagering market," he said.
"We see Picklebet's decision to work with us to deliver this service as a huge vote of support in the quality and performance of the product we are delivering."
The deal marks RAS Tech's entry into the RMTS space for wagering operators. Crispe said the company's superior technology, data modelling and efficiency will provide an alternate option to new and existing wagering operators who are seeking a full turnkey solution to their risk management.
The RMT will be delivered in conjunction with strategic partner, Racebook HQ, which recently signed a Memorandum of Understanding (MoU) with RAS to provide the trading expertise for the service.
Memorandum of Understanding
The MOU is the latest in a series of major partnerships and contracts signed in the last six months including an expanded five-year contract with Entain, one of the world's largest sports betting and gaming groups, valued at $5 million.
It's also partnered with wagering powerhouse Flutter (the owner of BetEasy, BetFair, Paddy Power, SkyBet, SportsBet, and Timeform) via the group's advanced-deposit wagering (ADW) platform TVG.com.
Picklebet CEO Nicholas Heaney said the company selected RAS because of its position as a global leader and innovator in both racing data and wagering technologies.
"They are strongly positioned to allow us to deliver simplified and innovative racing products that complement our existing esports and sports offering, to serve the younger demographic," he said.
"We look forward to working with Racing and Sports to further develop innovative Racing products and bring them to market."
This article was developed in collaboration with RAS Technologies, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Online article taken from the Stockhead, published on Wednesday, 12th October 2022.