Australia
BetMakers Acquires IP and Software from Protocol Zone
BetMakers Technology Group Ltd announced that its subsidiary, BetMakers MTS LLC, has acquired intellectual property and software from Protocol Zone Private Limited, a specialist developer of wagering software.
The intellectual property acquired from Protocol Zone includes; digital tote technology, API data feeds, proprietary trading and ratings models, amongst other tools, which will all form part of the new GTX software that BetMakers expects to release in FY25.
GTX will provide BetMakers’ international ADW and tote wagering customers with a new tote wagering platform that is expected to deliver enhanced performance and a greater user experience. GTX is expected to lower BetMakers’ cloud and infrastructure costs relating to its ADW platforms in the US and other jurisdictions of which there are currently ~20+ customers.
Importantly, GTX’s modern architecture and module-based application will allow for the deployment of sports betting, daily fantasy and iGaming products for customers looking to upgrade their existing racing tote only offerings. GTX is also expected to be integrated with BetMakers fixed odds managed trading service as well as the Racelab ProFORM betting prompts.
Protocol Zone Managing Director, Kartik Modi, has also agreed to contract to BetMakers exclusively for an extended period of 3 years acting as BetMakers’ Country manager in India where he will oversee operations in India along with exploring opportunities in the Asia region.
Karl Begg, VP of Technology at Global Tote, said: “We have been working with the team at Protocol Zone for 18 months now and have found them to be extremely efficient with a great domain knowledge across wagering and horse racing.
“We are excited to be finalising this deal as we get ready to release our new upgraded Tote, Reporting and Digital product suite into the market, called GTX. We believe that the new offering will be a game changer across our tote business and we are confident it will be well received by the broader market and our existing customer base once launched.”
Komal Modi, CEO of Protocol Zone, said: “Today marks a significant milestone in Protocol Zone’s journey as we announce the acquisition of our intellectual property and software by BetMakers. This partnership represents more than just a business transaction, it’s a testament to the innovation, dedication, and expertise our team has demonstrated in developing cutting-edge wagering technology over many years and we look forward to continuing this journey as part of BetMakers.”
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