October 24, 2022 3 min read

BetMakes Enters Deal to Acquire Punting Form

BetMakers Technology Group announced that it has inked a deal to acquire Punting Form, an AI-powered resource for horse racing sectional times and odds. The agreement will help BetMakers cement its position as a leading B2B provider of horse racing data and tech.

BetMakers to Acquire Punting Form

As noted by BetMakers, Punting Form is used by many professional companies within the sector. The sectional times it provides will be combined with BetMakers’ proprietary tech to deliver novel features, including accurate pricing algorithms, speed maps, runner comments and integrity benchmarking.

In addition, BetMakers said that it will integrate Punting Form’s services and data across all of its operating divisions. The initial focus will be the Managed Trading Services as it will allow BetMakers to immediately enhance its pricings.

Punting Form, on the other hand, will expand the current services to also include sectional time ratings for North America, the United Kingdom, New Zealand and Ireland. It will also introduce new racing formats, including greyhound and harness racing.

The Deal Will Greatly Benefit BetMakers

BetMakers believes that this is one of its most strategically-important acquisitions to date as it will help its team enhance its offerings with world-class technology. The firm hopes that the new acquisition will benefit its global betting services, which include its back-end tools, pricings and trading margins. In addition, BetMakers believes that Punting Form will benefit its global tote, providing it with opportunities to leverage the relationship to drive liquidity in existing markets with BetMakers’ racetrack partners. Moreover, the company is certain that the new acquisition will enhance its global racing network and will increase confidence in its overseas content. Lastly, the agreement is expected to greatly enhance BetMakers’ US fixed odds and increase the race timing quality.

The chief executive officer of BetMakers, Todd Buckingham, said that sectional times are very important for his company’s rating system. He believes that the M&A deal with Punting Form will greatly benefit the company and is looking forward to its completion.

The synergies across our business are exceptional with both internal use and our external client base benefiting greatly from this acquisition. The team at Punting Form is very experienced in delivering B2B wagering solutions and we are excited to have them onboard at BetMakers.

Todd Buckingham, CEO, BetMakers

Per the agreement, BetMakers will pay an initial consideration of $3 million in cash, and up to an additional $17 million, depending on Punting Form’s performance over the next three years.

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