BetMakers has announced its contract with William Hill that was set to expire by the end of the year has been extended for two more years. The new agreement that would run until December 31, 2022 has some new additions, too.
Australian-based technology company BetMakers is a data distributor for a whole plethora of sports betting operators, including UK giant William Hill. Its products allow for direct real-time comparisons between odds of different sports books, but the company’s expertise is in the field of racing, tracking every race and collecting and analyzing data for betting purposes.
Racing Events Importance
Under the terms of the extension to the initially signed in 2018 contract, BetMakers Technology Group will keep providing its wagering tools, plus all of its expanded racing products.
“The extension and upgrading of BetMakers’ racing services and solutions to William Hill at an international level comes during a challenging time for wagering operators with the suspension of many sports globally…”
Todd Buckingham, CEO, BetMakers Technology Group
The timing of the contract extension does not come as a surprise at the background of what is going on around the world. For more than a month already the major sports events have been put at a standstill due to the spreading menace of the coronavirus, which has shifted the focus of the punters towards the sports that are still on.
Racing events are still running, albeit without attendance, but the presence of people at the race track matters little to the bettor, especially when there is not much on offer wagering-wise. And these developments force bookmakers to shift their focus, too, scrambling for racing data and analytical tools.
“Over the past two years we have made enormous strides in diversifying our racing content to include products from all over the globe, which was one of our key strategic ambitions. This success could not have happened without the excellent collaboration of William Hill Group Trading and BetMakers, who offer an incredible wealth of experience in International racing. This transition has seen William Hill increase its racing content significantly.”
Mark Howarth, Director of Racing, William Hill
Extension Comes With Perks
The contract extension has come with some sweeteners for the data solutions provider company, as William Hill will incrementally increase the payments to BetMakers along the course of the contract. Furthermore, the sports betting giant has given first option to any product the Australian technology firm has on offer, as long as its price matches or beats the price of a competitor offering, local or international one.
William Hill has recently updated investors regarding its 2020 revenue expectations, suspending dividend and warning that a significant reduction on its earnings before interest, tax, depreciation and amortization /EBITDA/ of up to £110 million may occur, even pointing out the total negative impact from the ongoing health crisis is still unknown. The sports betting and gaming operator even amended the remuneration packages of its managers to prepare to deal with the upcoming adversity.