Flutter signs new deal with OpenBet to power Australian sports betting brand Sportsbet

OpenBet has signed a new four-year deal with Flutter Entertainment, the London-based provider of sportsbook technology, content and services announced on Thursday. Thus, the company is set to remain “at the forefront of powering Flutter Entertainment’s Australian sports betting brand Sportsbet,” according to a press statement.

Through the end of 2025, Sportsbet will continue to deploy OpenBet’s technology and services “to deliver best-in-class sports betting entertainment” to its growing consumer base. "This renewed partnership with Flutter Entertainment once again demonstrates how OpenBet is at the heart of driving sports betting entertainment to the world's biggest brands," the company said.

The new contract arrives during what OpenBet calls “a historic year” for Sportsbet. By leveraging OpenBet’s platform, Sportsbet has continued “to lead the way” in the Australian online market, processing record volumes while benefiting from modern technology and a trusted betting platform.

"We're thrilled to have finalized this important new contract with our long-term partner Sportsbet,” said Jordan Levin, CEO of OpenBet. “We take great pride in delivering our industry-leading platform technology to Australia's leading sports betting brand and providing bettors with a safe, responsible and immersive experience.”

Sports betting, gaming and entertainment giant Flutter Entertainment serves over 13 million customers worldwide. In addition to its Sportsbet brand, the organization owns other well-known businesses, including FanDuel in the US, and Paddy Power, Betfair and Sky Betting and Gaming in the UK.

Meanwhile, OpenBet is currently in the process of being acquired by Endeavor Group, a transaction expected to close in Q2 2022. The $1.2 billion deal has been arranged to be in cash and common stock.

The acquisition will see the California-based holding company combining OpenBet with its existing sports betting business, IMG Arena, to deliver official data and video streams, premium content, mobile products and betting technology solutions to sports leagues, federations and sportsbooks worldwide.

OpenBet is being sold by Vegas-based Scientific Games Corporation. In addition to Sportsbet, OpenBet also maintains a partnership with Flutter’s FanDuel, plus other sports betting heavyweights including Ladbrokes, William Hill, Betfair and DraftKings.

OpenBet’s extended contract represents a golden opportunity for the company to further strengthen its presence in Australia, where it processes 46% of bets placed in the country, according to released data. During the Melbourne Cup horse racing event, OpenBet processed a record average of 65,000 bets per minute.

The 65,000 bets average represented an increase on last year’s peak figure of 61,000, while also up 75% compared to wagers placed in 2019. “It is a phenomenal achievement and simply cannot be matched by anyone else in the sports betting entertainment industry,” Levin said at the time.