Estimated to be worth A$3 Million over a five-year period
Paddy Power's Australian arm Sportsbet has struck a deal with Racing Victoria that provides the company the right to stream Victoria thoroughbred racing via its websites, mobile apps and other digital platforms.
The deal is estimated to be worth A$3 Million for five-years and is the first that the horse racing governing body has entered into with a corporate bookmaker.
Sportsbet customers are able to watch all Victoria races free via the website immediately. Mobile and iPad streaming is expected to be available by the end of the month.
Racing Victoria is wooing other major corporates such as William Hill and Ladbrokes but newcomer CrownBet has declined saying the deal is just "too much money", The Herald reported.
According to the publication, Racing Victoria is seeking "0.5 per cent of Victorian racing turnover from each corporate bookie to gain access to the race vision".
"We are having discussions with other online betting operators as well as Tabcorp as we want to get on as many platforms as possible," Racing Victoria chief Bernard Saundry said.
Sportsbet chief executive Cormac Barry commenting on the deal said: "Seventy-eight per cent of our customers placed a bet on our mobile app in February. This partnership with the Victorian thoroughbred racing industry will continue to drive that trend and crucially increase the wagering pie and bring in more revenue for the thoroughbred code."
Online Casino News Courtesy of Infopowa