OpenBet and Paddy Power Betfair have been selected to deliver technology solutions and supporting data for the New Zealand Racing Board’s fixed-odd betting business.
The board said both companies have strengths in digital, sport and in-play wagering, which are three of the biggest growth opportunities.
“The investment will enhance NZRB’s current fixed odds betting business, to meet ever-increasing customer demand and enable NZRB to better compete with international wagering organisations,” it said in a press release.
OpenBet will provide NZRB with a Fixed Odds Betting engine, which is used by many of the major wagering organisations across the world. The new FOB platform is one of a number of key strategic initiatives – the other initiatives include customer and channel improvements, racefields legislation, and a programme to optimise the racing calendar that the board says will deliver a “significant lift” in annualized net profit once fully implemented.
“The new FOB offering will complement our already competitive Tote, putting NZRB in a much stronger position to manage turnover across both products, taking into account customer and channel preferences,” said Chair Glenda Hughes.
The new platform is expected to be fully integrated into NZRB for the 18/19 season.