Favourit launches B2B arm
Social sports operator has seen bet placement grown 225% month-on-month
Australian social sports operator Favourit has announced the official launch of its B2B white-label business, aiming to build on its existing partnerships with Paddy Power and TABcorp.
Favourit’s offering allows users to place virtual currency wagers on a range of sports, with punters able to follow betting trends using its TipTracker feature, and the Bet IQ feature ranks players based on successful bets.
The white-label solution can be integrated into a real-money platform, allowing bookmakers to offer cash bets via the product, and is available for online and iOS.
Two companies have already signed up for the solution. TABcorp became the latest to do so in January, launching an app for its Luxbet subsidiary, while Paddy Power has also partnered with Favourit via its Sportsbet brand.
The deals have significantly boosted activity in the app, with the operator revealing that bet placement had grown 225% month-on-month, and real-money betting transactions via the solution were up 195% for the same period. The Paddys and TABcorp deals also helped Favourit take home the Innovation in Sports Betting trophy at the eGaming Review B2B Awards, beating established competitors like Sporting Solutions and OpenBet.
Favourit chief executive Toby Simmons (pictured) said the growth showed “the success of a global social network and technology suite that can add considerable value and stickiness to a sports betting operator’s business”.
He added that the firm had created “a rich, immersive experience that adds true value and engagement for the user”, aided by its “proven ability to stimulate new and existing users”.