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Mybet, the German-based online bookmaker, announced today that they have signed a partnership agreement with the UK-based igaming software developer Amelco. The agreement between the two parties will see Amelco do a complete overhaul on Mybet’s sportsbetting platform, taking it to the next level.
With the agreement, Mybet is taking a natural step in the right direction towards creating their own proprietary gambling platform and catch up with their competitors, who currently has better offerings for their bettors. The improved experience, better up-time as well as more bets to place should improve Mybet’s revenues and they project to reach levels of €75 million in 2015.
“We are delighted to have found a strong and experienced partner with which to realise our goals in Amelco. The product solution to be developed in partnership with Amelco is based on the successful services already provided by Amelco and encompasses sports betting, risk management and bonus administration.” Sven Ivo Brinck, Chief Executive Officer at Mybet said.
“We are developing a multifunctional product range that will revolutionise our sports betting range across all our sales channels, online and offline. Together, we will be able to speed up realising the innovations and transformation processes that we have embarked upon under the auspices of the change project.” Brinck added.
The project will have an estimated cost of around half a million euros, but as with most things there might be complications along the way to make the project slightly more expensive. However the cost is not that large compared to the potential increase in revenues and profits.
“We are facing an exciting and challenging project, the precise scope of which we will define hand in hand with Amelco over the coming weeks. Although the project investment needed will be a burden on the 2015 result, we believe it will start to have a positive impact on revenue before the end of 2015 and then produce over-proportional earnings growth in the coming financial year for 2016.” Markus Peuler, Chief Financial Officer at Mybet said.