Betfair focuses on B2B partnerships for smaller market entry

Breon Corcoran, Chief Executive of Betfair, has outlined that the operator will look to enter smaller international markets through strategic B2B partnerships.

Betfair senior management will integrate the strategy following its August 2014 B2B model switch for the Australian sports betting market. Betfair had sold its Australasia betting exchange to casino and leisure operator Crown Resorts Limited.

Speaking to EGR Magazine last week after the announcement of Betfair’s H1 2015 results, CEO Breon Corcoran outlined that B2B partnerships appeared to be the best option for Betfair to function in smaller betting markets, it would otherwise choose not to enter.

“We can enter these smaller markets with a local partner and provide them with access to the exchange platform and its liquidity,” Corcoran stated.

Corcoran added that Betfair would be highly selective of its B2B partners for new territories, in order to secure its business in new markets. The B2B business model would see Betfair operate technical and operational functions of their betting exchange, whilst marketing operations would be left to the B2B partner.

Betfair management are currently exploring new B2B partnerships with interested parties. It is unknown if the operator will launch any new B2B partnerships in 2015

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Content Source: http://www.egrmagazine.com/news/betfair_chief_reveals_b2b_expansion_plans