BetMakers seeks global odds supremacy through GBS acquisition
BetMakers Holdings, formerly TopBetta, has targeted becoming the “wholesale supplier of choice” across the international wagering landscape after agreeing to acquire leading odds specialist Global Betting Services (GBS) just weeks after buying DynamicOdds.
Under the deal, Australia-headquartered BetMakers – which rebranded last month after agreeing to sell its TopBetta and MadBookie B2C businesses – will pay AUS$10m ($7.4m/€6.3m) to acquire 100% of the shares in the parent company of GBS, which specialises in fixed odds data delivery and management and has recently expanded into the UK.
GBS provides services such as its proprietary Price Manager software solution to major gambling brands in Australia and the UK such as William Hill, Sportsbet, Kindred, Ladbrokes and Bet365. Price Manager can provide price fluctuations and a pricing management tool that automates price creation across 1,000s of races simultaneously.
Todd Buckingham, chief executive of BetMakers, said increased resources would only benefit GBS’s potential.
He said: “GBS has previously operated with a small team and the company’s established development, marketing and support team will allow us to not only expand the client base, but also to increase the products offered through GBS’s existing customer integrations.”
BetMakers said existing integrations by GBS will now enable it to offer a greater diversity of products, with the potential to expand the GBS reach further in the UK and into the US.
The deal comes just weeks after BetMakers agreed a deal for DynamicOdds, which provides live data solutions to leading Australian racing authorities and services to bookmakers.
In a statement outlining plans for a rights issue to fund the two deals, Buckingham said: “With the acquisition of these two successful companies we believe The BetMakers will now become the wholesale supplier of choice across the international wagering landscape as we focus on delivering improved performance and more products for our customers.”
Earlier this year, TopBetta Holdings raised AUS$1m to fund development of its global betting platform after revealing 95% year-on-year revenue growth for the second quarter.
Gerard Lazare, managing director of GBS, added: “We have some fantastic clients all around the world, and the need to ensure continued support and growth, along with developing new and innovative products, means we need the resources to be able to execute this.
“The BetMakers is the perfect fit for GBS, which I am confident will ensure the business will reach its maximum potential. The current staff and I are excited to be a part of this next phase of the business.”