Betsafe is set to add a horse racing product to its sportsbook portfolio, becoming the first Betsson AB brand to do so. This move allows the company to retain a strong presence in markets that it operates in, particularly Ireland and the UK.
The launch has been enabled by Betsson’s €34 million acquisition of RaceBets in December 2016 which provided them with a horse racing product and trading team, together with its sportsbook product. Betsson will now be able to offer odds on 250,000 races every year, putting them on a par with the top operators in the market.
The Swedish company operates in the markets of Ireland, the UK, Germany and Malta and will now be able to expand their operations in those markets. The launch of the new service is set to coincide with this year’s Royal Ascot Festival which begins on Tuesday, June 20 and runs through to Saturday, June 24.
“Horse racing is an essential part of a competitive sportsbook offering if you want to be a strong competitor in markets like the UK and Ireland,” explained Ulrik Bengtsson, president and chief executive of Betsson.
“By launching horse racing on Betsafe we are levelling up our sportsbook significantly. The fact that we do it ahead of our planned launch date is also credit to our integration capabilities. The next step is to launch horse racing on our other brands. Moreover, we have made a number of other improvements of our sportsbook and will soon also make an upgrade of our mobile sportsbook.”
Horse racing is currently one of the most popular sports that are bet on in Europe, with the market valued at approximately €3.5 billion.