BetMakers have signed conditional commercial agreements to build and operate new wagering products with companies associated with Australian racing identity Tom Waterhouse.

BetMakers and BDnA have agreed to terms to provide technology, data and services for, tomwaterhouse.com betting application (“App”) to be offered to the tomwaterhouse.com 80,000 members and designed for dual purposes of offering punters access to Australian bookmakers, delivering the best price(s) in the Australian wagering market from the one application, while at the same time providing wagering operators with a low-cost customer acquisition platform.

Waterhouse global pricing and trading desk – a B2B Managed Trading Services (“MTS”) solution for wagering operators that are looking to outsource their trading operations. It intends to allow any wagering operator to have an outsourced Waterhouse team, powered by BetMakers technology, manage day-to-day bookmaking across hundreds of races with a solution aimed to reduce costs for the operators with minimal risk. The Waterhouse Group can provide ‘Pricing and Trading’ services along with ‘Minimum Guaranteed Returns’ to wagering operators that use the B2B service.

As part of the deal, the BetMakers will receive revenues generated from both products in a shared arrangement with the Waterhouse Group. In addition, Waterhouse’s venture capital arm will receive performance rights which will convert into options over shares in BetMakers . The number of Options which may be issued on conversion of the Performance Rights will be calculated with reference to the amount of revenue the new products derive for BetMakers over a 2 year period. Each Option issued will have an exercise price of $0.18, which is a 10% premium to the 20-day VWAP as at 24th January 2020.

Both agreements are conditional on shareholder approval, and will commence on BetMakers obtaining all necessary shareholder and regulatory approvals in respect of the issue of the Performance Rights.

Waterhouse said: “I am excited by both these significant new ventures and as a supportive shareholder of the Company going forward that we have settled on a perfect partnership with BetMakers – we believe it is a company positioned globally as the leading supplier of wagering data and technologies.”

BetMakers CEO Mr Todd Buckingham said: “We believe these deals are material to the Company – through activating the Waterhouse Group’s 80,000 members along with international growth opportunities we have identified. I am especially pleased to have such a vote of confidence from the Waterhouse Group to partner with us on our long-term strategy.”

Tom Waterhouse, former CEO of tomwaterhouse.com and William Hill Australia, has indicated to BetMakers the new App is set to launch to 80,000 members in the June Quarter 2020.

Features planned for the App will allow customers to access all their individual betting accounts in one application to get the best price. Customers will be able to easily sign up to new accounts with any participating wagering operators via the App, providing a lower customer acquisition cost option for all online bookmakers that participate.

Tom Waterhouse said: “This is a great concept because it provides our clients the best chance to get the right price on our selections – as well as their own selections.”

“For bookmakers, we believe this will deliver the best cost per acquisition solution from any of their acquisition strategies. The incentive for punters to sign up to new accounts with wagering operators and access multiple bookmakers from one app is attractive. It is a win-win solution for punters and bookmakers, and I am delighted that BetMakers can partner with us to deliver a unique product with their world-leading technology and solutions.”

Todd Buckingham said: “We believe this product is an enticing solution because it is practical and seamless for global wagering operators – big and small. For BetMakers it fits with our strategy of consolidating the position in the Australian market while taking advantage of our tech-wagering opportunities that are rapidly presenting internationally, especially in the US wagering market.”