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Tabcorp enters ‘new era’ of sportsbook with OpenBet

OpenBet is to supply its scalable betting engine and advanced trading system to Australian wagering giant Tabcorp.

As the operator pursues growth plans, OpenBet will integrate a series of online and retail products including its fixed-odds betting platform and trading system for its content portfolio, to help amplify the offering for Tabcorp’s flagship brand, TAB.

Cathryn Lai, Chief Commercial Officer of OpenBet, stated: “Being selected by Tabcorp to augment its user experience is an exciting move for us and further cements our position as a trusted provider of robust, hybrid products that drive growth. 

“We’re looking forward to working alongside the TAB team and providing them with tailored products and services that will usher in a new era for its sportsbook offering. We have no doubt that the operator’s customer base will benefit from an enhanced experience through our unbeatable technology and trading services.”

OpenBet aims to ‘redefine’ the TAB user experience via ‘improved agility, scalability, and speed-to-market’ for new and differentiated products. Tabcorp will also benefit from enhanced operational efficiency and streamlined processes through OpenBet’s solutions.

David Beirne, General Manager of Trading at Tabcorp, highlighted the combined strengths of Tabcorp’s category expertise and internal capabilities and OpenBet’s advanced core.

He explained how this ‘creates a market leading relationship’ that will lead to increased customer engagement, market share and sustainable profitability.

“This partnership will propel Tabcorp’s trading capabilities to the top of the market as it will allow Tabcorp to utilise OpenBet’s cutting edge technology to deliver a first class digital and retail experience for our customers at pace in exciting and innovative ways,” Beirne added.

“This partnership is a significant step forward in modernising and supporting our ambitious plans to deliver the next generation sports betting user journey.”

Tabcorp also noted OpenBet’s expertise in operating within some of the world’s strictest regulated markets as a major factor in its decision in selecting the company as its latest technology provider. 

OpenBet currently processes almost half of all digital sports bets placed in the Australian market and this deal looks to step this up whilst also bringing its retail sports betting capabilities to the country for the first time. 

Tabcorp recently announced that it had accrued corporate losses of AU$636m (€385m) as detailed in the interim 2023/2024 accounts of the ASX gambling group.

Statutory losses were attributed to Tabcorp booking impairment charges of AU$731m (€440m) during H1 2023/2024 trading for the reporting period up to 31 December 2023.

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