- BetMakers Technology (BET), through its subsidiary, Global Tote, was selected to be the new tote technology and services with Norsk Rikstoto to replace pari-mutuel betting solution in Norway
- Under the 10-year agreement, Global Tote will provide its quantum engine as part of a fully-managed SaaS solution to replace the current parimutuel betting system
- The new partnership expects to better position Norsk Rikstoto to develop Norway racing as a global wagering product
- Full delivery of the SaaS solution is expected for the fourth quarter of 2023
- BET shares last traded at 51.5 cents as of May 20
BetMakers Technology (BET) has been contracted to be the new tote technology and services provider with Stiftelsen Norsk Rikstoto for its wager processing services in Norway.
The agreement is for 10 years with up to five one-year extensions and is signed through its wholly-owned subsidiary Racing Technology (Global Tote).
Under the agreement, Global Tote will provide its Global Tote Quantum engine as part of a fully-managed SaaS solution to replace Norsk Rikstoto’s current parimutuel betting system.
The system will be hosted from Global Tote’s AWS computing environment with operations services from Global Tote’s purpose-built centres in Europe and the US.
The new partnership expects to better position Norsk Rikstoto to develop Norway racing as a global wagering product, including expansion of international commingling opportunities and increasing revenue by importing international content for wagering customers in Norway.
Director of Gaming Services Norsk Rikstoto and CIO Christofer Moestue Huseby said the integration of Global Tote’s solution will help the company be more competitive in a “more liberalised gaming market”.
“The betting system is Norsk Rikstoto’s most central and critical component, so its
replacement had to offer a sophisticated technological and service solution with a
powerful core platform from which to deliver an engaging responsible gaming experience
to our customers,” he said.
“Global Tote’s stature in the racing and betting industries is well established, its
technologies and services are advanced, and we believe its integration capabilities will
allow Norsk Rikstoto to integrate the new betting system with our existing web, mobile
and terminal platforms.”
Full delivery of the SaaS solution is expected for the fourth quarter of 2023.
Global Tote now the chosen national tote technology and services provider to Norway, Denmark, Finland, and Turkey, and supports tracks in Spain, Cyprus, Ireland and the UK.
BET shares last traded at 51.5 cents as of May 20.