AmTote seals Sportradar partnership for US sports betting
Sportradar has struck a deal with AmTote International to provide sports betting services across the US just days after unveiling major new investors that will help the company to expand its business in North America.
AmTote – a division of the racing industry wagering technology specialist, the Stronach Group – processes more than $8bn (£6.1/€6.9bn) in pari-mutuel wagers in North America and about $5bn globally in fixed-odds sports wagers through its Spectrum platform.
Under the partnership, which includes trading and risk management, Sportradar’s MTS platform will be integrated into Spectrum, enabling pre-event and in-play betting.
On Monday, Sportradar confirmed Canada Pension Plan Investment Board and Silicon Valley-based growth equity firm TCV as new minority investors with a transaction that valued the company at €2.1bn.
A Sportradar source told iGamingBusiness.com that the US Supreme Court’s recent decision to overturn a federal ban on sports betting had been a “major motivation” behind the timing of the investment.
“Our teams have been working closely together over the last few months and we look forward to helping AmTote customers to make the most of the sports betting opportunity across the US,” Sportradar’s vice-president of sales, Neale Deeley, said.
In addition to marketing its full-service sports betting solution to racetracks across the country that already have AmTote’s pari-mutuel services, AmTote will also provide its sports betting solution to the Stronach Group’s deposit wagering platform, Xpressbet.
AmTote president Keith Johnson said: “We have long looked forward to the day that we could fully leverage our Spectrum wagering platform for our traditional customer market in the US, combining its extensive fixed-odds sports betting capabilities with our pari-mutuel products.
“The addition of Sportradar to our solution provides a truly best-in-class turnkey product that will allow AmTote’s US customers to implement sports betting in a manner that integrates seamlessly into their existing infrastructure and operations.”