ONLINE bookmaker Topbetta announced on Thursday that it will take a controlling stake in data feed and bookmaker comparison site DynamicOdds.
DynamicOdds is the supplier of data feeds to the Principal Racing Authorities (PRAs), the group in charge of setting starting prices across thoroughbred racing in Australia.
Topbetta Holdings Limited detailed the deal in a press release, which said the company has entered a binding, conditional agreement to purchase 100 per cent of DynamicOdds’ shares.
Once the deal is complete, the acquisition of DynamicOdds will cost Topbetta $10 million.
Topbetta CEO Todd Buckingham said the acquisition will help his company continue to grow in the ever-changing landscape of online sports betting.
“We’re excited about the opportunity to continue to develop and enhance the current technology stack that helps punters make bets, and bookmakers take bets,” Mr Buckingham said.
“At the same time, we also see a huge opportunity to expand the business into other verticals via partnerships with sporting and racing bodies globally.”
“This acquisition is the perfect complementary business to continue with our Company’s growth.”
The company this week lodged a “Change of company name reservation” form with the Australian Securities and Investments Commission, reserving the Sportingbet Pty Ltd name.
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