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Betfair closes Partnership

Betfair closes Partnership
To be launched in Colombia, Betfair closes partnership with BtoBet.
by Academia   |   comments 0

Betfair bookmaker has closed a partnership with BtoBet, which will provide Betfair with a player account management (PAM) solution and platform. The partnership was implemented even before the launch in Colombia.

Recently, BtoBet, provider of sports betting technology, was acquired by Aspire Global for the amount of €20 million. The platform has already signed several agreements in Colombia since the market was opened. It pointed out that the agreements have spaces for expansion and collaboration in other regulated markets.

“As one of the world’s largest international online sports betting brands, Betfair will become one of the first B2B partners to leverage BtoBet’s position in the market since its acquisition by Aspire Global,” stated Alessandro Fried, BtoBet founder.

“We are confident that we will become key players in the market by combining Betfair’s strong brand and extensive industry knowledge with our flexible technology.” – Added Fried.

Betfair

“We are excited about this planned partnership and the chance to offer a top-class betting experience to Colombian customers by combining BtoBet’s excellent Neuron 3 platform with Betfair’s industry leading trading and risk management capabilities.” – Commented Mike Woodbridge, Betfair international director, about the partnership deal.

BtoBet and Aspire Global

Aspire Global acquired BtoBet also because of the strong presence of the supplier in Latin America, which was one of the reasons. So far, BtoBet has a partnership with 32 operators from Europe, Africa and Latin America, focusing on the last two regions.

According to Aspire, the company complements its business very well, since it has a strong presence in Europe and North America.

In the first half of 2020 alone, BtoBet had revenues of €3.1 million and EBITDA of €1.2 million. In 2019, revenue was €4.4 million and EBITDA was €1.5 million.

Since October 2016, when Colombia became the first Latin American jurisdiction to formally approve online games, the Coljuegos regulator has already issued 18 online game licenses.

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