Betsson acquires RaceBets
Betsson acquires horse betting operator RaceBets. The acquisition of the niche operator RaceBets complements Betsson’s offering with a proprietary horse racing product and an experienced horse betting trading team. The horse betting product will be added to Betsson’s offering and will benefit all Betsson brands. RaceBets holds licenses in the UK, Ireland, Malta and Germany. RaceBets offers a highly competitive product on par with the best UK operators and customers can bet on more than 250,000 different races yearly. 75 percent of RaceBets’ revenue come from locally regulated markets, primarily Germany and the UK, making it a good strategic fit for Betsson. Horse racing is one of the most popular betting sports and the total estimated worth of the European horse betting market is EUR 3.5 billion. “Horse racing is important in many of our markets and the key rationale of the acquisition of RaceBets is to enable our subsidiaries to accelerate the launch of a world class horse racing product on all core brands. This will help fuel organic growth in strategic markets such as the UK and Germany,” says Ulrik Bengtsson, CEO and President of Betsson AB. Betsson acquires RaceBets from the company’s founders and the German Thoroughbred Racing Association. The cooperation with German racing will continue.