Deal could spark £1bn UK turnover boost as live in-play horse racing odds are made available to over 40 bookmakers
The world’s largest and fastest source of live horse racing data, Total Performance Data (TPD), has partnered with PA Betting Services, a global supplier of UK and US racing data, in an exciting in running distribution deal.
Under the terms of the deal, TPD’s live in running prices are now available to more than 40 bookmakers around the world. The live odds engine is fed the industry Starting Price after which the probabilities are uniquely generated by neural networks trained on velocity and GPS position data. This opens up a raft of in running betting opportunities like those enjoyed across all other major sports where live data and live prices translate to in-play betting forming over 70% of turnover.
As part of PA’s content production offer, the prices will be delivered in the same format and via the same integration as PA delivers its pre-race data. In addition, PA will apply price margin and smoothing to deliver customer ready odds. This enables the Operators to focus resources on the user interface to stop prices suspending at the off – the moment that the race has the maximum punter attention.
This is the biggest shakeup in race betting for decades and there is the chance to offer a new immersive betting experience that can draw a new audience of younger punters more who are more likely to engage with horses in full flight than with static and complex pre-race form.
The product currently focuses on the live win prices but place markets and match bets will quickly follow. An immediate innovation would be offering punters a partial cash out if their horse runs well. With TPD’s prices operators can offer ‘stake insurance’ where punters see their stake returned if their horse hits evens in running. This creates a very positive customer experience especially if their selection is beaten in the final yards.
These are just a few examples of the kind of product enrichment that this content will facilitate with the three goals of boosting turnover, margin and engagement. It is also a large revenue opportunity whereby a full uptake of the in running markets across the UK’s major operators could increase online betting turnover by 10% or £1billion.
Will Duff Gordon, CEO of Total Performance Data, said: “PA Betting Services was our natural partner given their dominance of race data integrations with bookmakers. Their long history at providing pre-race data and prices means they have well established relationships which we hope to leverage. This is another very exciting deal that makes it as easy as possible for Operators to capture more racing turnover.
Richard Duncan, Head of Business Development at PA Betting Services, said, said: “We are delighted to be working with TPD to extend the reach of their horse racing product and are pleased to be able to offer these prices after the off. We look forward to working with Operators to surface these prices as seamlessly as possible.”