SPORTS BETTING
Australia – BetMakers acquires Form Cruncher and Swopstakes assets
By Lewis - 25 June 2021
BetMakers’ subsidiary, BetMakers DNA, has entered into agreements to acquire the technology platform assets, databases and intellectual property of racing data company, Form Cruncher, and technology and intellectual property associated with Swopstakes’ betting product.
The new assets will be integrated into the BetMakers network to create wagering products and content monetised through the company’s suite of customers, including racing bodies, race tracks, retail and digital wagering operators.
Form Cruncher processes racing event data such as odds, price fluctuations, sectional times and results to create advanced form information and dynamic content that can be adapted and customised globally. Features include race and runner ratings, speed ratings and maps, runner comments, race overviews and suggested tips that can be customised to suit each platform partner’s branding and language.
BetMakers will pay an initial cash payment of AUD$1m for Form Crunchers assets, and a potential performance payment of up to AUD$1m subject to the satisfaction of certain performance milestones over the financial year ending 30 June 2023.
Under the terms of the agreement, BetMaker has acquired Form Cruncher assets which include all websites, digital platforms, apps and other technology used by or developed for the Form Cruncher business, as well as all IP, computer hardware (including network and telecommunications equipment), software, source code and code bases related to any domain names, websites, digital platforms, apps and other technologies.
BetMakers’ Chief Executive Officer, Mr Todd Buckingham, said: “The acquisition of Form Cruncher’s racing data assets and form processing database is a valuable addition to our core business, and one that will allow us to grow our overall product offering across a global footprint.
BetMakers currently supplies multiple sources of informatics globally and the acquisition of Form Cruncher will allow us to bring this in-house and create a normalised offering across all of our global jurisdictions in which we operate.
Leveraging BetMakers’ existing infrastructure and data, the new assets will be plugged in to our network and create wagering products and content to be monetised throughout our global suite of customers, including racing bodies, race tracks, retail and digital wagering operators.”
BetMakers has agreed to pay a cash payment of AUD$634,750 and a performance payment of up to AUD$15m for Swopstakes’ betting product.
Swopstakes is a wagering platform, specifically developed to run sweepstakes on racing and sports events including AFL, NRL, NBA and NFL. Swopstakes’ proprietary betting product allows customers to purchase tickets in featured events and play tournament-style live games on real racing and sports events. Players can buy, sell or swap tickets during the course of an event until one ticket holder is eventually the winner.
Mr. Buckingham commented: “We have followed Swopstakes as a product for some time and have been impressed with both the concept and technology. We believe there is an opportunity to adapt the product for our clients and achieve scale through integration, promotion and distribution through BetMakers’ extensive global network.”
