Sky Betting & Gaming has become the latest online bookmaker to earn UK racing’s Authorized Betting Partner (ABP) designation.
On Friday, SB&G announced it had signed a three-year deal commencing April 1 to voluntarily contribute a portion of its revenue generated from UK racing back to the sport. The company joins 32Red, Bet365, Betfair and BetVictor on the official list of ABPs.
In announcing the SB&G deal, the British Horseracing Authority (BHA) said the terms of the arrangement were confidential but the BHA had previously suggested that any bookies looking to achieve ABP status would need to ante up 7.5% of their online race betting revenue.
The BHA and other UK racing stakeholders began imposing the ABP scheme on Jan. 1, limiting future sponsorship and branding opportunities to ABP members. Bookies with a land-based presence in the UK already contribute 10.75% of retail race revenue and have so far resisted becoming ABPs, which has led to the demise of some longstanding sponsorship deals. Holdouts are merely delaying the inevitable, as the UK government will require bookies to make payments on both online and land-based race betting revenue effective April 1, 2017.
In other SB&G news, the company just announced the launch of its graduate software academy. The Leeds-based company says it will plow £1.5m into the project, which it hopes will further the development of new technology talent.
The company has invited applicants to put their names forward for one of the 25 available spots in the 12-month program. Graduates are guaranteed a job at the conclusion of their studies, which will include pointers on SB&G’s own philosophies toward product development, as well as the opportunity to hone their business skills by rotating through various departments at SB&G.