betinternet.com plc, the AIM listed fixed odds and tote betting provider and Nine Lives Gaming, Interactive gaming technology providers, today executed an agreement to develop a unique cash wagering interface for betinternet’s totalisator operation, Euro Off-track (euroofftrack.com). The interface will allow betinternet customers to place tote wagers directly through Euro Off-track into USA and Irish racetrack pools. This is commonly referred to as ‘commingling’. betinternet customers will be able to use their betinternet account to place their tote wagers without the need to register or open an account with Euro off-track
Bill Mummery, Technical Director of betinternet.com said: “We have, for some time, recognised the benefits of offering limited risk tote wagering to our customers. To date this has been achieved by customers registering directly with Euro Off-track. With the new interface we will be able to offer our customers a seamless single fixed odds and tote account service.”
In addition the interface will allow Euro Off-track to offer tote services through a similar single account solution to the customers of other fixed odds bookmakers.
Mr Mummery added “Through this development bookmakers will be able to deliver significant new value propositions to their customers with little risk to themselves. The added value for the customer is three fold. In the first instance the customer need only make one registration and open one account. Second he is given additional betting opportunities on quality USA and Irish racing content. Thirdly, by placing international wagers directly into the USA and Irish racetrack pools, the size of the pool is increased and therefore payouts and jackpots are potentially much larger.”
For the bookmaker the ‘take out’ from the pools that is shared between the bookmaker, Euro Off-track and the race provider is risk free.
Mr. Vincent Caldwell, CEO of betinternet.com added: “The real exposure for fixed odds bookmakers is the high-value bet on long-odds. The tote service will also allow the bookmaker to accept fixed odds bets on Euro Off-track racing content and then lay the bets off into the race pools to reduce exposure. Euro Off-track currently offers tote wagering on over fifty premier thoroughbred and greyhound racing tracks in the United States and Ireland.”
The new facility also creates an opportunity for other tote service providers to link and commingle their pools with those accessed by Euro Off-track. These grouped pools will be substantially larger than each provider could achieve separately, and as a consequence should be far more attractive to the wagering public.
Andy Hutton, Managing Director of Nine Lives, called the agreement “a very exciting development in the betting industry that has the potential to dramatically enhance wagering services for bookmakers and punters alike”.
betinternet.com Plc is a publicly listed gaming company (AIM: BET) licensed and regulated by the Isle of Man Gaming Commissioners.
Nine Lives Gaming are expert developers of multi-lingual,multi-currency, and multi-channel solutions for the gaming, gambling, and entertainment industries.