Betfair Collaborates with OpenBet for it’s Fixed Odds Platform
Betfair is planning the launch of its fixed odds betting site in time for the 2012 Euro football championship. With this move, the innovating betting exchange operator, who revolutionized the industry with peer-to-per gambling, is challenging traditional bookmakers at their own game. The operator has chosen OpenBet, a leading online gaming and sportsbook software provider, to support the soon to be launched platform.
After realizing that a whopping thirty percent of its regular clients moved over to rival websites to place fixed odds wagers on certain sports tournaments, Betfair decided to add fixed odds element to compliment its extremely popular international betting platform. Having taken the decision, the betting exchange operator initiated the process of assessing possible software suppliers for its new venture. During this process, OpenBet came out as a clear winner.
OpenBet has extensive industry experience and is known to support several major operators. Since it was established in 1996, the software supplier has earned a reputation as an industry leader with its superior products and services. A number of national lotteries, bookmakers and other groups are supported by OpenBet. The supplier’s list of partners includes prominent names like William Hill, Ladbrokes and Paddy Power.
Previous collaborations between Betfair and OpenBet
David Loveday, OpenBet Chief Executive Officer, in his address highlighted the fact that this is not the company’s first collaboration with Betfair. The companies have partnered on several occasions in the past achieving mutually beneficial results. In 2008, Betfair joined hands with OpenBet to gain technological infrastructure for the brand Betfair Arcade. The companies once again collaborated in 2011. This time Betfair chose OpenBet to support its mobile sports betting features.
Loveday further said that after many years of association, the company is proud and excited to be a Betfair partner when the group is undertaking the biggest innovation since its foundation. He added that the collaboration is an example of how OpenBet works side by site its clients to improve their entire product offering.
OpenBet – A logical choice for Betfair
According to Ian Chuter, Betfair Group Operations Director, given the mutually beneficial relationship shared by the company with OpenBet over the past many years, the latter was a logical choice, once the decision of introducing fixed odds element in the company’s overall offering was made. The research on possible software providers further supported this choice.
Long-term collaboration is not the only factor that makes OpenBet is an ideal partner for Betfair’s new venture. The software supplier had proved time and over its superiority over the competition. At the recent eGR Business to Business awards held at Wembley inLondon, the company was named the ‘Sports Betting Supplier of the Year’. eGR awards recognize the best service and software suppliers in the international online gaming industry.
Responding to the award win, Loveday said that the honor is a testament of the huge strides taken by the company and all the hard work put in by the team. He further said that a ‘can do’ flexible attitude and constant innovation are the key drivers of the company’s success. This enables the company to provide customers with the latest content and tailored systems. The company has been supporting the top gaming operators with its products since 1996. It powers a major share of the overall international online bets.
Besides the Sports Betting Supplier of the Year, OpenBet was nominated for 4 more categories – Slot Provider of the Year, Innovation in Sports Betting Software, RNG Supplier of the Year and Innovation in RNG Casino Software. Over the past year the company has grown remarkably. With the company’s growing portfolio, its customer base is also expanding.
Apart from calling OpenBet an ideal choice, Chuter added that the cutting-edge sports betting product will add to the services offered by the betting exchange and allow the company to provide competitive prices on markets. Because of the lack of a fixed odds platform, until now this was not possible, but not anymore. Now there is no reason for customers to switch to other betting sites.
About Betfair
Betfair, established in 2000, is the largest international betting exchange service provider in the world. With the help of sophisticated technology, Betfair allows punters to place wagers at odds provided by other punters or sought by themselves. The company boasts of around four million registered customers across the globe and processes more than seven million betting transactions per day.
The Confederation of British Industry has honored the organization twice with the UK’s ‘Company of the Year’ title. The company has also won 2 esteemed Queen’s Awards for Enterprise. In 2003, the company was awarded for innovation and more recently in 2008 for international trade. The company has more than 2000 employees across the world. Betfair holds betting licenses in the US,Italy,Malta,Tasmania,Denmark and Gibraltar.
