NYX Gaming Group’s Openbet division has been selected by the New Zealand Racing Board (NZRB) following what has been described as a rigorous tender process.
Our readers will recall, the NZRB announced its intention to engage with Paddy Power Betfair and OpenBet to potentially formalize a Fixed Odds Betting platform in late December 2016 (see previous reports).
NYX will begin the pre-development detailed design phase for the delivery of an omni-channel account and fixed odds betting platform for NZRB in which Openbet will work towards automating and enhancing the Board’s largely manual fixed odds betting business.
“The partnership will allow NZRB to meet ever-increasing customer demand and better compete with international wagering organisations through the creation of an omni-channel player account,” a press statement details.
The initiative is key to NZRB’s strategic plan to increase distribution to the industry and build a long-term sustainable future for racing and sports in New Zealand.
The NZRB anticipates the FOB platform alone will add at least $17-19 million in annualised profit per year, once implemented.
“After a rigorous selection process, we are firm in our belief that the NYX Gaming Group will provide NZRB with the ability to access a first-class fixed odds betting engine,” Glenda Hughes, Chairman of NZRB, said.
“We are delighted to be partnering with the leader in digital wagering and look forward to working with the team to design and deliver a bespoke experience for TAB customers that will put us at the front of the market in the face of ever increasing competition.”