SBC News Voice of the Sports Betting Industry
BetMakers Technology Group has closed a significant deal to integrate technology that would enhance its upcoming GTX platform.
The contract with wagering software developer Protocol Zone Private Ltd ensures that BetMakers receives digital tote technology, API data feeds, proprietary trading and ratings models from Protocol Zone’s arsenal.
BetMakers’ proprietary software GTX is expected to launch sometime this financial year, with the company promising a tote wagering platform that offers competitive performance and refined user experience.
The company also expects GTX to lower cloud and infrastructure costs tied to its international ADW platforms comprising around 20 customers.
Protocol Zone’s intellectual property will also help with the creation of a modern, module-based architecture for GTX that will then become the foundation for deploying sports betting, daily fantasy and igaming products on the platform – targeting customers looking to expand their tote offerings.
Karl Begg, VP Technology, Global Tote at BetMakers, commented: “We have been working with the team at Protocol Zone for 18 months now and have found them to be extremely efficient with a great domain knowledge across wagering and horse racing.
“We are excited to be finalising this deal as we get ready to release our new upgraded Tote, Reporting and Digital product suite into the market, called GTX. We believe that the new offering will be a game changer across our tote business and we are confident it will be well received by the broader market and our existing customer base once launched.”
BetMakers will use its LLC subsidiary to pay a total of AUD $1.5m (£756k) to Protocol Zone for the intellectual property. The money will be paid via two tranches.
First, there will be an upfront payment of AUD $200k to be satisfied by a $100k cash transaction and another $100k in BetMakers ASX shares issued to Protocol Zone.
The Purchase Price ($1.3m) will be paid out from a percentage of increased net revenues delivered by the GTX platform and all other related BetMakers products to which the Protocol Zone intellectual property has been applied. An option remains for BetMakers LLC to pay a lump sum into the Purchase Price by 6 February, 2030.
Komal Modi, CEO of Protocol Zone, added: “Today marks a significant milestone in Protocol Zone’s journey as we announce the acquisition of our intellectual property and software by BetMakers.
“This partnership represents more than just a business transaction, it’s a testament to the innovation, dedication, and expertise our team has demonstrated in developing cutting-edge wagering technology over many years and we look forward to continuing this journey as part of BetMakers.”
