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Centrebet off to the races in Germany

Discussion in 'Casino Industry Discussion' started by Ian_go, Mar 27, 2007.

    Mar 27, 2007
  1. Ian_go

    Ian_go Dormant account

    keeping the peace
    Centrebet is an Australian based online gambling company that derives over 45 per cent of its turnover from outside the Australasian region. That figure is set to grow after the company announced an exclusive ten year business deal with the German Trotting Association. Centrebet is looking to invest some AUS$5 million (US$4.04 Million) in a new lottery-style product called V75. The V75 jackpot bet is a combination of a seven leg accumulator type bet and a lotto-type product.

    "Germans like lottery products as it is, and we think they'll like this, especially as the races will be televised free-to-air," said Centrebet managing director Con Kafataris.

    The First division prize is awarded to punters who have all seven winners with the division 3 prize going to those with five of seven.

    The V75 product will be marketed at "novelty" type gamblers rather than informed horse racing punters, Kafataris went on to say. He said that V75 has the potential to transform wagering on trotting in Germany.

    "We are hoping to emulate what's happened in Sweden," Mr Kafataris said.

    Wagering on trotting has increased 10 fold since the V75-style of betting was introduced in the mid 1970s. Centrebet is hoping for a similar reaction in Germany.

    The deal gives Centrebet access to three German racetracks, and opens the way for partnerships with eight others. In fact, the Munich-Pfaffenhoffen and Hamburg tracks will be renamed Centrebet Arena.

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