Canberra-based tech company Racing and Sports (RAS) has secured a contract potentially worth over $10 million that will take it to the next level.
The three-year contract with Tabcorp Limited, announced through the ASX, will help the betting and entertainment giant transform the information available to its Australian punters.
The initial contract is worth $5.4 million, with an additional $5.4 million attached to an optional three-year extension, bringing the potential contract value to more than $10 million over six years.
Racing and Sports is a leading provider of fully integrated premium data-enhanced content and wagering technologies for global racing and wagering industries.
This latest deal with Tabcorp will see it provide an expanded offering of market-leading thoroughbred, harness and greyhound data and content across the TAB app, retail and web platforms, and live broadcaster Sky Racing.
CEO Stephen Crispe said the RAS team looked forward to “identifying new opportunities for innovation and enhancing the customer experience” for Tabcorp.
“Racing and Sports is at the forefront of innovative and engaging ways to represent what is typically complex data and statistics. We’re now taking this to a new level by producing this data in the form of visual animations, indicator-led graphics and new interactive ways for a younger demographic to consume this data,” he said.
“We’re very excited about this deal because we see how much potential the Tabcorp brand has and how much Racing and Sports data and content can do to bring it back to a prominent Tier 1 position in the Australian wagering landscape.
“We’re looking forward to working with Tabcorp to develop products that really lend themselves to pari-mutuel betting … Being one of the only approved totalisators in the country is a distinct advantage for Tabcorp, which can really set it apart.”
The domestic agreement is in addition to an existing international data supply arrangement between the two entities since 2010 and paves the way for further commercial partnerships.
“RAS has been working with Sky Racing World, a fully owned subsidiary of Tabcorp based in the US. We’ve supplied them with enhanced data and content in an ‘Americanised’ format to promote Australian and New Zealand racing into the US market,” Mr Crispe explained.
“This relation builds extensively on that and allows us to look at other global jurisdictions where there may be potential to work together in the future.”
RAS will provide Tabcorp with its market-leading racing data, analytics, predictive models and premium content.
By combining this with Tabcorp’s existing video content, Tabcorp customers will have access to leading analytics and insights.
“The quality of content, analytics and tips provided to customers has a proven link to drive turnover,” Mr Crispe said.
“Every Saturday in Australia, there is a race every few minutes, meaning end-users require high-quality, informative insights at their fingertips in order to wager with confidence.
“This partnership levels the playing field for Tabcorp to compete more meaningfully with other Tier 1 providers in Australia who have potentially taken some of their market share over the years.”
The work RAS will now do for Tabcorp will result in a “one-stop-shop for users of the Tabcorp services looking for everything on a single platform to find an edge”.
“Whether it be in the Racing and Sports content and analytics or Tabcorp’s video replays – it’s all there,” Mr Crispe said.
“It will essentially assist Tabcorp with their reinvention and ambitions to grow market share. They are putting their money where their mouth is by investing in customer experience to both attract and retain customers.”
In addition to RAS’s proprietary ratings, Racing and Sports is also the official provider of Timeform ratings in Australia, having worked with the prestigious Timeform brand for the past 23 years.
“Timeform ratings is a prestigious global rating system that’s been around a long time and RAS is the trusted custodian of that system here in Australia, but we have our own proprietary, world-leading rating models as well,” Mr Crispe said.
“This proprietary ratings framework drives all of our racing products which are the go-to for high quality, premium racing information by clients worldwide, backed by large amounts of science.”
For more information, visit Racing and Sports.