Sports betting technology provider BtoBet will provide its player account management (PAM) solution and platform to Betfair, prior to its launch in Colombia.
The deal is the most recent of BtoBet in the Latin American country and occurs a month after being acquired by Aspire Global in a € 20 million deal.
BtoBet, which has signed a series of agreements in Colombia since the market opened, stressed that the agreement includes space to expand collaboration to other regulated markets in the future.
“As one of the largest international online sports betting brands in the world, Betfair will become one of the first B2B partners to leverage BtoBet’s position in the market since its acquisition by Aspire Global,” said BtoBet founder Alessandro Fried.
“We are confident that we will become important players in the market, combining Betfair’s strong brand with our flexible technology,” he added.
Mike Woodbridge, international director of Betfair, also commented on the commercial arrangement. “We are excited about this partnership and the chance to offer a first-class betting experience to Colombian customers, combining BtoBet’s excellent Neuron 3 platform with Betfair’s industry-leading trading,” he said.
Acquisition of Btobet by Aspire Global
BtoBet’s strong presence in Latin America was one of the main reasons why Aspire chose to acquire the supplier. BtoBet has a partnership with 32 operators in Europe, Africa and Latin America, with a focus on the last two regions.
In announcing the deal, Aspire mentioned that the company perfectly complements its business, as it has a stronger presence in Europe and North America.
During the first half of 2020, BtoBet generated revenues of € 3.1 million, while EBITDA was € 1.2 million. Last year, the company obtained € 4.4 million and EBITDA of € 1.5 million.
Regulator Coljuegos has issued 18 online gaming licenses since Colombia became the first jurisdiction in Latin America to formally approve online gaming in October 2016.
