Sportech pens global commingling agreement with UK Tote Group
Betting technology provider Sportech has entered into a multi-year international commingling agreement with UK Tote Group and is to supply its proprietary digital platform to the operator.
Under the new arrangement, UK Tote Group will be able to utilise Sportech’s worldwide Quantum commingling ecosystem to access horseracing and other sporting pools across the globe.
The partnership also includes the formal handing over of the digital platform, which Sportech and UK Tote Group have jointly developed over the past year.
The platform is a cloud-based solution directly connected to Sportech’s global commingling ecosystem, enabling UK Tote Group to deploy additional Tote products from international operators.
“This agreement with Sportech demonstrates further commitment to our international development plans and a desire to see our pools betting operation lead the way in technological innovation to help grow betting on horseracing around the world,” UK Tote Group chief executive Alex Frost said.
Sportech chief executive Richard McGuire added: “Sportech has invested heavily to develop its Quantum global ecosystem and to improve the quality of its international business.
“The global market for pool betting is in excess of $100bn (£80.4bn/€92.3bn) and UK Tote Group has an impressive team with ambitious plans. Sportech is delighted to extend its relationship with UK Tote Group to support their global initiatives.”
Confirmation of the new agreement comes after UK Tote Group in recent weeks extended its service offering to help fill the void left by the cancellation of UK horse racing due to the novel coronavirus (Covid-19) pandemic.
British racing has been suspended since 18 March and the British Horseracing Association yesterday (16 April) announced that it would not return until May at the earliest.
As such, UK Tote Group expanded its offering to give customers the opportunity to bet on racing from Hong Kong and Sweden, where events are still taking place.