UK-based sports spread betting firm Sporting Index has announced that it has reached an agreement with the British Horseracing Authority to become an authorised partner under the Authorised Betting Partner (ABP) model.
The company has committed to maintain a funding relationship with British racing until at least 31 March 2019, and has confirmed that the terms of the agreement include the Sporting Index's existing remote betting operations.
This includes a clause that requires the company to continue to make voluntary contributions to British racing in line with ABP terms if it moves any part of its operations outside of the UK during the term of the agreement.
In return, SI will receive certain benefits and advantages, which include the use of a kitemark across assets, central promotion through media campaigns, discussions with racing on the composition of the fixture list and access to an account manager resource within racing. Commercial entities in the sport may also offer benefits to ABPs, at their discretion.
SI chief Paul Turner said in a statement Thursday announcing the deal: “Sporting Index have been passionate supporters of British racing for 25 years and I’m delighted to underline our commitment to the future of the sport by becoming an Authorised Betting Partner.”
Will Lambe, director of corporate affairs for the British Horseracing Authority, added: “We’re delighted to welcome Sporting Index as an Authorised Betting Partner of British racing and pleased that they recognise the mutual benefit of a partnership approach between racing and betting.”