PaaS Agreement with Daily Mail Australia
Sydney, Mar 10, 2023 AEST (ABN Newswire) - BetTube Corporation Ltd (
NSX:BOX) is required under 674 of the Corporations Act and Listing Rule 6.4 to disclose that its wholly owned subsidiary, IRPSX Pty Ltd trading as Bet Right ("Bet Right"), and Dailymail.com Australia Pty Ltd ("Daily Mail Australia"), a subsidiary of DMG Media Limited, have entered into a 3-year Wagering Data Rights Agreement, a Platform as a Service (PaaS) agreement, whereby Bet Right will provide Daily Mail with access to its wagering platform as a service.
TRANSACTION SUMMARY
- The PaaS agreement provides Daily Mail Australia with an additional pillar of revenue by leveraging its data and media capabilities in referring potential sports, entertainment and political bettors to Bet Right, the Company's B2C brand in Australia.
- Bet Right will derive additional gross margin from new clients referred to it under the PaaS agreement.
- The precise terms of the revenue to be generated are confidential but the Company can disclose that the respective revenue and costs resultant from the PaaS deal are based on performance for the mutual benefit of both parties.
- In exchange for the right to performance-based revenue generated by referred wagering clients, Bet Right has been granted by Daily Mail Australia the exclusive rights to display digital advertising relating to wagering and betting across its Australian media properties for a minimum period of two years.
- To maximise the commercial benefits available, both parties will collaborate to undertake research and analysis on the massive amounts of data generated by the parties to formulate customer profiles and customer segmentation for the purpose of provision of safer gambling products and practices to readers across Daily Mail Australia media properties in Australia.
- The data collaboration will involve exchanges of data but the PaaS agreement ensures the conduct of the parties complies with the Australian Privacy Principles (APP).
Anthony Waller, the Company CEO and Legal Counsel, says: "The PaaS deal with Daily Mail Australia is the first execution of BetTube's strategy to utilise its scalable infrastructure to allow data and rights holders the opportunity to create an additional pillar of income from their rights. Through the use of data, the strategy aims to provide safer gambling advertisements by limiting exposure to wagering engagements to people who are interested in sports betting entertainment products."
"Daily Mail Australia is an ideal partnerfor our first PaaS as it aims to provide an alternative to traditional media and they have a willingness to innovate. They have a spirit for experimentation and we're looking forward to the relationship," BetTube CEO & Legal Counsel Anthony Waller.
Peter Holder, Managing Director of Daily Mail Australia: "We are delighted to join forces with BetTube, a dynamic company which in a very short time has become a significant player in a very competitive space."
"What we like most about BetTube is its considered approach - the attention to detail, the importance it places and its huge appetite for innovation."
ABOUT DAILY MAIL AUSTRALIA
Daily Mail Australia forms part of a phenomenal global offering attracting over 230 million readers world-wide, making it the world's largest English-speaking news website. Consistently breaking exclusives in local and global news, celebrity, entertainment and sport while reporting on what's trending in fashion, beauty, health and technology.
About BetTube Corporation Ltd
The BetTube Group began in 2018, on the cusp of the new Computer Revolution based on data analytics, machine learning and AI and the maturity of behavioural science, to build an online cloud-based platform providing a better wagering entertainment solution with innovative offerings on wagering products and services with responsible gambling and harm minimisation embedded in BetTube Group's ethos, structure and processes. The BetTube Group is committed to building wagering infrastructures which offer wagering Platform as a Service (PaaS) to entities wanting to enter the wagering industry. The BetTube Group's long term PaaS strategy begins with the Group using its proprietary platform to compete with Australian existing operators through its B2C brand "Bet Right".
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