Australian gambling behemoth Tabcorp has announced an extension of its digital content relationship with Sportsbet, which is owned by Flutter. As part of the deal, Sportsbet will be able to stream both Sky Racing 1 and Sky Racing 2 in real-time on its mobile app and website. This offer is only available through Sky.
The agreement has been renewed for the previously stated ten years, providing Sportsbet with uninterrupted access to Sky Racing throughout that time. The agreement's parameters are essentially unchanged. By fiscal year's end in 2024, the agreement is projected to bring in $30-40 million AUD.
Tabcorp had explored making a proposal in May for the rights to host Australia's most prestigious horse racing event, the Melbourne Cup Carnival. Because of this strategy, some of Tabcorp's rivals decided to withdraw from the auction.
Tabcorp's MD and CEO Adam Rytenskild referred to Sky as the "home of racing" while discussing the new partnership. Therefore, the broadcaster is a "primary driver of race wagering," bringing in more punters than any other channel in Australia.
Rytenskild thinks that the agreement extension solidifies Sky's position as the preeminent racing network.
According to basketball betting experts, the CEO continued by saying that the partnership is great for racing clubs since more people would tune in to their events. He ultimately decided that the arrangement would provide a substantial digital revenue stream for Tabcrop for another decade.