“As of today, customers can enjoy a highly competitive offering across horse racing and bet on more than 250,000 different races yearly,” Betsson CEO Ulrik Bengtsson said this morning.
The acquisition of niche operator RaceBets in late 2016 complemented Betsson’s sportsbook offering with a proprietary horse racing product and an experienced horse racing trading team.
“This is of course very important in the UK, but it will also allow customers from other countries to bet on racing with Betsafe, not least German and Swedish players who enjoy betting on racing and trotting,” Mr Bengtsson said.
Horse racing – an important part of a sportsbook offering
“The UK is the largest gambling market in Europe, and if you want to be a strong competitor in markets such as the UK and Ireland, horse racing is an essential part of a competitive sportsbook,” Mr Bengtsson explains.
“It’s very much a part of the heritage of gambling in those countries. Gambling on racing was around before anything else, people grew up with it and with the offline bookmakers. Horse racing is a great product for online gaming, not only do you have all markets available in your smart phone, you can also watch streams of races from all over the world. Horse racing is a 24/7 product, 360 days a year. Other sports may have seasons, but horse racing is always there,” Mr Bengtsson adds.
Marketing and economy of scale
Mr Bengtsson affirms that the proven marketing skills of Betsson Group will be applied to highlight horse racing, which will naturally be very beneficial to the offering.
“We have a consistent approach, one that is not driven by specific events or promotions, and this will serve us in the long run,” he says. “The experience of Betsafe when it comes to working with ambassadors and sponsorships will definitely benefit our horse racing offer.”
The future of Betsson Group horse racing
“The next step is to launch horse racing on our other brands. We will make an upgrade of our mobile sportsbook and have also made a number of other improvements. Overall, the future of our sportsbook looks bright,” Mr Bengtsson said.
“Horse racing is a self-contained product which we can develop and take in any direction we want. We decide how we leverage it with different brands within the group. The aim is, of course, to be the best of breed,” he concludes.
About horse racing and RaceBets
Horse racing is one of the most popular betting sports and the total estimated worth of the European horse betting market is €3.5 billion.
RaceBets was founded in 2005. By 2007, it was established as the leading horse racing bookmaker in Germany. In 2010, the German Thoroughbred Racing Association became shareholders and a significant percentage of profits are reinvested in the horse racing industry. Since 2012 RaceBets offers full-coverage of UK and Irish horse racing markets. The company was acquired by Betsson in 2016.