Sports betting technology provider SBTech has marked its first foray into South Africa’s regulated online wagering market through a recently formed partnership with Bet.co.za.
The partnership between the leading South African operator and the technology company saw Bet.co.za migrate to SBTech’s sportsbook and online gaming platform.
Through this migration the online and mobile sports betting brand has been able to go live with products that are new to the South African digital gambling space.
The partnership between Bet.co.za and SBTech includes the addition of the provider’s Lucky Numbers product as well as an integration with BetGames.TV, which would enable customers to bet on live lottery draws and live games, using localized payment methods.
In addition, Bet.co.za is set to benefit from a bespoke trading and risk management strategy that is localized for the regulated South African gambling market.
Bet.co.za is the first South African online gambling operator SBTech has partnered with. The recently secured deal has provided the major sports betting technology provider with the oppertunity to enter a new regulated territory as part of its strategy to constantly and rapidly expand and strengthen its regulated foothold and deliver on its international development plans.
A Key Milestone
Commenting on their South African debut, SBTech Chief Development Officer Andrew Cochrane said that they are “thrilled to enter another major regulated market” and to team up with one of “South Africa’s premium gaming operators.”
Mr. Cochrane went on to say that a great amount of “collaborative work has taken place behind the scenes ahead of this migration and going live with Bet.co.za marks a key milestone” in their partnership with the South African gambling business.
Bet.co.za CEO Scott Canny said that by migrating to SBTech’s platform they will be able to enhance, elevate, and fully customize the experience they offer to their customers and provide them with a product that is “unlike anything else available in the South African market.”
Mr. Canny went on that their local marketing expertise paired with SBTech’s platform are set to cement Bet.co.za’s position as the best online bookmaker in South Africa.
SBTech is currently in the process of combining its business with US sports betting and daily fantasy sports operator DraftKings. The tie-up, originally announced in late 2019, will create a $3.3 billion company that will be the only “vertically-integrated sports betting and online gaming company based in the United States.”
In other words, the mega-deal will provide DraftKings with in-house sports betting and iGaming technology, while spearheading SBTech’s ambition to cement itself as a leading wagering provider in the lucrative US sports betting market.
According to preliminary estimates, the combined entity will have more than $500 million in unrestricted cash on its balance sheet. The tie-up is expected to close by mid-2020.