SBC News Voice of the Sports Betting Industry
UK betting stakeholders bet365 and XLMedia (XLM) have signed a new partnership targeting North American expansion with a responsible gaming caveat.
The revenue share agreement has set a goal of onboarding new customers in the burgeoning US betting and gaming space, whilst promoting responsible gaming practices and tools.
This will include leveraging collaborative content to promote understanding of safe gambling and use of responsible betting tools, as Stoke-based bet365 continues to consolidate its stateside standing.
A bet365 spokesperson said: “As we grow bet365’s presence in North America, we are delighted to extend our commercial partnership with XLMedia. XLMedia’s proven ability to activate audiences in key markets is incredibly important as we continue to expand across the US.
“From sign-up to first bet and beyond, our commitment to providing customers with the best user experience will only be enhanced through this relationship.”
As it stands, bet365 is currently live in the igaming stronghold states of New Jersey, Colorado, Virginia and Ohio, although a deal with Raynham Park Sportsbook did not materialise, which would have seen the firm enter Massachusetts.
However, regulations on revenue share agreements between operators and affiliate marketers differ from state to state, and so bet365 and XLM may have to be cautious when choosing which states to rollout their partnership in.
For example, the Massachusetts Gaming Commission (MGC) does not allow revenue share agreements, although it does allow Cost Per Action (CPA) arrangements, and New York also announced a similar decision recently.
Regardless, it is clear that North America has become a dominant market for London-based affiliate XLM, with the company citing the continent as a key growth driver behind core business revenue growth of 27% to $69.6m ($54.6m).
Kevin Duffey, President of XLMedia North America, added: “We are thrilled to sign a deal with bet365 that moves our business towards the strategic direction and extends our relationship with one of the most prominent Sports Betting operators.
“This hybrid agreement marks the start of XLMedia building a new, sustainable revenue stream in North America.”
