Shares in BetMakers Technology Group Ltd (ASX: BET) experienced a surge of more than 10% on Thursday following the announcement of a significant deal with CrownBet. The company revealed that it has entered into an exclusive five-year technology and services agreement with Betfair, aimed at providing a comprehensive wagering solution for CrownBet’s operations.
Under this agreement, BetMakers will implement its entire wagering stack, which includes a tailored version of the Apollo wagering platform, alongside trading and risk management tools, a content engine, and essential platform technology. This end-to-end solution positions BetMakers as the backbone of CrownBet’s technology and operations from its launch.
Significant Milestone for Apollo Platform
BetMakers described the agreement as the most important commercial milestone for its Apollo platform to date. The deal reinforces the company’s strategy to offer a fully integrated B2B wagering solution to Tier-1 operators around the globe. This collaboration also signifies a pivotal alignment with Betfair and its parent organization, Crown Resorts, a leading name in Australia’s entertainment and hospitality sectors.
Commenting on the partnership, Martin Tripp, Chief Operating Officer of BetMakers, stated, “To be selected by Betfair to power the return of CrownBet demonstrates the scalability, performance, and commercial flexibility of our technology stack.” He expressed confidence that combining their Apollo platform with Betfair’s industry expertise will create a market-leading wagering experience, solidifying CrownBet’s position in the Australian market.
Following the announcement, BetMakers shares peaked at 19.5 cents before stabilizing at 19 cents, reflecting an increase of 8.5% by mid-afternoon.
Additional Growth Opportunities
In a broader market update, BetMakers also disclosed a new three-year agreement with Penn Entertainment (NASDAQ: PENN) for the distribution of racing content, which is expected to enhance the company’s annual EBITDA by approximately $1.2 million over the contract’s duration. The Chief Executive Officer of BetMakers, Jake Henson, described this deal as a positive development that builds on an existing partnership, anticipating a fruitful and profitable collaboration.
The company reported strong digital momentum, having launched eight digital customers in the second quarter of fiscal year 2026, with another eight launches planned for the remainder of the fiscal year. This growth is supported by a pipeline of additional opportunities on a global scale.
At the close of trading on Wednesday, BetMakers was valued at $195.7 million. The recent agreements are seen as a testament to the company’s strategic direction and its potential for future growth in the competitive wagering market.
