Betgenius in Betfair sportsbook management deal
Agreement will see solutions provider power elements of Betfair's newly launched fixed odds product.
Betfair has selected Betgenius to provide sportsbook management services for its newly launched fixed-odds product.
The agreement between the two companies comes with the fixed-odds offering already available in selected regions and due to be rolled out in others in anticipation of a UK launch in advance of this summer’s European football championships, which begin early in June. It will see Betgenius automate the operator’s pre-match and in-play betting from creation through pricing to settlement.
Stephen Morana, Betfair’s acting chief executive, revealed plans to launch out a fixed-odds sportsbook last December, aiming “to complement, not compete with” Betfair’s core exchange product, according to the operator’s sports operations director Nick Hagen.
Hagen (pictured), who joined the company from GTECH G2 in December, went on to comment on the decision to select Betgenius, saying: “The quality of the Betgenius offering, both pre-match and in-running, makes it the ideal suite of products for Betfair to launch with as the company expands its product offering in both new and existing markets.”
Mark Locke, CEO of Betgenius, said of the deal: “This agreement builds on our on-going relationship with Betfair and adds to the number of high profile clients that use our products and services.”
The agreement follows Betgenius’ appointment of Max Wright, formerly commercial manager for racing and betting at Press Association Sport, as its new business development manager.
It is arguably the most significant deal signed by the company since its acquisition of in-play developer Boolabus – intended to “enhance product offering” for new and existing customers – last September.