8 Jul 2014 07:00
Sportech PLC ("Sportech") Wins UK Tote Contract
Sportech is pleased to announce that its Racing & Digital division has been selected by Betfred to provide a comprehensive suite of new betting technology products to its Totepool business (previously known as The UK Tote).
The ten year contract is expected to be worth over £9 million in total revenues. Totepool holds the exclusive licence to operate all Tote betting on British horseracing, which is considered by many to be amongst the best horseracing in the world.
Under the agreement, Sportech will replace Betfred's entire existing tote systems with its state-of-the-art Quantum System. It will also provide a new digital framework for betting on mobile devices, online and at self-service terminals through its proprietary betting technology, Digital Link™. Ongoing maintenance and support will be provided for the duration of the agreement.
The integration of the Quantum System and other Sportech betting products will allow Betfred to simplify their betting systems by consolidating their operations under one provider, whilst also making Totepool products available for distribution to worldwide tote markets. The new betting technologies will significantly enhance the customer's betting experience, whether they are at a racecourse or betting shop, online or mobile, in the UK or international.
Sportech has invested heavily to improve the quality of its technology over the last two years, and this agreement with Betfred follows a number of significant new contract wins which include Penn National Gaming, the largest racecourse and casino group in the US, and Danske Spil, the Danish state controlled gambling operator.
Ian Penrose, Chief Executive of Sportech, said:
"Sportech processes $13 billion of bets annually for racing customers in 25countries, and now I am delighted we are able to add the UK Tote and Betfred to our list of partners. Betfred has a number of ambitious plans, and we are pleased to be able to assist them to improve the customer experience for Tote betting on UK Horseracing."
Philip Siers, Managing Director of Totepool said :
"The new Quantum System, coupled with the Digital Link™ and G4 modules will anchor our tote offering going forward, and with the additional flexibility and market reach it gives us, we expect significant growth in our pools products. I am confident that this strategic partnership will be good for both our businesses, and I look forward to next year when the initial system will be delivered.
"This is a major investment for Totepool, and it demonstrates our further commitment to horse racing, and a desire to see our pools betting operation, lead the way in technological innovation and racecourse service."
- ENDS -
For further information, please contact:
Sportech PLC 020 7268 2400
Ian Penrose, Chief Executive
Cliff Baty, Chief Financial Officer
Brunswick Group LLP 020 7404 5959
Mike Smith, Tom Williams sportech@brunswickgroup.com