Private equity fund aims to simplify horseracing betting with RaceBook brand

Private equity fund Carousel Group wants to simplify horseracing betting and target recreational punters with its new RaceBook product, CEO Daniel Graetzer has said.

Carousel owns the RaceBook.com and SportsBetting.com with plans to launch both in the first half of the year.

Speaking to EGR, Carousel founder and CEO Graetzer said the operator would use its recently acquired  in-house technology platform to produce a unique product that offers new features and an “education experience”.

“Within the racing space our major competitors are very much aimed at professionals and aren’t particularly stimulating,”Graetzer said.

Racing traditionally hasn’t been focused on building exciting products, instead the excitement is on the track. We aim to bring the excitement of the track to the web.”

Currently licensed in Malta, Carousel is also planning to penetrate the UK to “fill in the gaps in the market” with the RaceBook brand.

“The UK is extremely saturated with high CPAs and little differentiation,”Graetzer said

There is a lot of competition in the market and punters don’t actually need for us to be there, however there are gaps in the market that we aim to fill with our customer-first, mobile-first approach to product.”

The former RFranco exec said the firm is planning to apply for a UK licence by next year, and is also looking towards Sweden and the US.

He said Carousel was working with UK marketing agency RCA to develop personalities around its brands.

“Our focus right now is to close some strong sponsorship and affiliate deals and to bring in quality traffic from Europe and LatAm from day,” Graetzer said.