NYX Gaming has entered into a new contract with New Zealand Racing Board (NZRB) for the detailed design phase of its new Fixed Odds Betting (FOB) platform project.
OpenBet, as the wholly owned sportsbook division of NYX, will work with NZRB to automate and enhance its largely manual fixed odds betting business. The partnership will allow NZRB to meet ever-increasing customer demand and better compete with international wagering organisations through the creation of an omni-channel player account.
It is a key part of NZRB’s wider strategic plan to increase distribution to the industry and build a long-term sustainable future for racing and sports in New Zealand. NZRB’s Statement of Intent for 2017-19 anticipates that the FOB platform alone will add at least $17-19 million in annualised profit per year, once implemented.
The OpenBet product was selected after the completion of a competitive tender process and chosen for its demonstrable strengths in online, retail and mobile sport and in-play wagering. The working arrangement mirrors the successful deployment of the OpenBet platform in regulated markets around the globe.
NZRB particularly noted the proven strength and ability of the OpenBet platform to handle increased load over key events such as the UK’s Grand National and Australia’s Melbourne Cup, where the platform saw record levels of nearly 20,000 bets per minute.
Matt Davey, Group CEO NYX Gaming Group, commented: “Our proven record of accomplishment in delivering a comprehensive range of sportsbook solutions across a diverse range of market and regulatory conditions is simply unrivalled. We have the necessary blend of experience and expertise to positively influence the detailed design phase of NZRB’s fixed odds betting platform project.We are honoured to have been selected from what was a highly competitive tender process.”
The NZRB, established by the Racing Act 2003, operates the country’s official racing and sports betting agency, the TAB, which has more than 180,000 active account-holders and a retail network consisting of almost 680 outlets.
Glenda Hughes, Chairman of NZRB, said: “After a rigorous selection process, we are firm in our belief that the NYX Gaming Group will provide NZRB with the ability to access a first-class fixed odds betting engine. We are delighted to be partnering with the leader in digital wagering and look forward to working with the team to design and deliver a bespoke experience for TAB customers that will put us at the front of the market in the face of ever increasing competition.”