Recent Sportsbook Changes and Mergers
September 4, 2015
In the sportsbook industry, like in any industry, companies make strategic moves that will help to improve their bottom line. This includes rebranding, merging, buying out competitors and a myriad of other actions. Here are some moves that have happened recently.
PaddyPower and BetFair Merge
The companies have just finished a merger that has created one of the biggest betting companies in the world. Under the terms of the deal Paddy Power will control 52% of the company and Betfair is 48%. The deal has a total worth of over 5 and a half billion dollars. The move was made in order to increase the scale, scope and overall reach of the two companies.
Betfair CEO, Breon Corcoran (who will also act as CEO of the new company) described the logic behind the move as follows saying:
“We fundamentally believe this industry is all about scale. By putting together two distinct but phenomenally strong brands, we’ll have a market leading position in the UK, Ireland, Australia and in the United States.”
HRWager Join BetPhoenix Platform
Online bookie HRWager has turned over their hosting and operations to the BetPhoenix family of sportsbooks. This move allows them to now accept Bitcoin. Bitcoin is coming on strong as one of the best ways to transfer money to a sportsbook.
