The Australian online gambling group Centrebet could be on to a new line of fixed odds management business that has the potential to earn it solid profits, reports The Australian newspaper.
The company has now successfully launched its pilot contract with the ACT TAB in Australia (see previous InfoPowa reports) and is ready to extend the service to other agencies, which will no doubt have been watching progress with interest. Apparently thus far the integration and initial operation has gone well.
On the ACT TAB contract, Centrebet is paid a service fee on a sliding scale based on the growth in racing and sports betting that it achieves for its partners, with overall turnover currently around A$200 million per annum.
Fixed odds betting is apparently a burgeoning sector in TAB, and Centrebet is anticipating "significant" growth as a result.
Speaking to The Australian, Centrebet deputy managing director Michael McRitchie said the contract with ACT TAB has good potential and is expected to generate over a million Australian dollars in net profit during the next financial year.