BUSINESS

Sportingbet and Two Way partner for TV service

TAGs: Sportingbet, TV Wagering, Two Way Interacive Entertainment

For some eight years now Sportingbet has been profitably operating in the land down under, with an annual turnover of approximately $1.5 billion AUD yearly. That figure may just be on the rise, Sportingbet has just signed a five year deal with Australia’s Two Way Limited.

The deal will see the partnership deploy a TV sports betting service across Aussie land and will utilize the newest technologies for TV connectivity to the Internet. The agreement places Two Way as Sportingbet’s exclusive provider for all betting services through any TV platform.

Aussie residents will now be able to place bets through their remote controls on all sporting events broadcasted by free-to-air TV, pay TV, or any form of Internet Protocol television. For the exposure, Two way will receive a licensing fee and share of Sportingbet’s revenue for this new platform.

Two Way’s CEO and managing director, Ben Reichel said “We are thrilled to announce Australia’s first TV sports betting service…Our TV wagering service on racing events has proven to be highly popular with punters. We are looking forward to applying our expertise in TV-based wagering to sports betting.”

The timing of the agreement and the joint platform is on point as Two Way estimates that by the end of this year 35 percent of all TV sets will have internet connections, with that number expected to grow to as much as 70 percent by 2014.

“Sportingbet gives customers more choices, with the widest range of betting options on racing and sporting events. We are pleased to be adding TV betting to our market-leading internet, mobile and telephone services in Australia,” said Michael Sullivan, CEO of Sportingbet Australia.

For Two Way, everything is going according to plan, as Two Way recently raised capital to fund expansion of its TV wagering services.

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