GVC Holdings and Betfred place wager on 10-year online deal
Gaming services provider GVC Holdings has signed a 10-year B2B licensing deal with one of the UK's leading sportsbook operators, Betfred.
Betfred will migrate all its sportsbook and gaming offerings onto the GVC platform on an exclusive basis. The GVC proprietary platform offers a "one-stop-shop" online offering, which focuses on a superior sports betting player "journey".
The platform offers a single account, allowing players to access a variety of content choices around sports and gaming, across multiple channels, which will will allow Betfred to segment its players and personalise its offering accordingly.
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"After an extensive review we are pleased to announce GVC as our new e-gaming platform provider," John Haddock, chief executive of Betfred, said.
"We were impressed by GVC's proprietary technology platform, together with its scalability and flexible approach to support the continued growth of our online business."
Many gambling operators have invested in their online offerings in recent months.
William Hill recently appointed Crispin Nieboer as the company's permanent head of online, who has set three goals for the firm's online business: improving the product offering, focusing on customer acquisition and improving player yields, and growing the online business internationally.
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A recent report from Moody's said that despite the pressure from increasing taxes and regulation, online gaming markets are the most likely source of growth for gambling firms over the next few years.
Online gaming markets, according to Moody's, are expected to grow to approximately €42.8bn by 2018, up from €36.9bn in 2014.
Kenneth Alexander, chief executive of GVC, said of the agreement with Betfred: "We are delighted to have secured this exciting and important B2B partnership with Betfred, one of the major players in the UK gaming market, so soon after the acquisition of bwin.party. This is a significant deal for GVC and recognises the strength and inherent value of our proprietary technology."