NYX wins NZ Racing bid for Fixed Betting Odds System

The New Zealand Racing Board (NZRB) has been looking to digitize its monopoly on racing and sports betting in the country. That plan will finally come to fruition as NZR has selected NYX Gaming, a Canadian-listed interactive gaming systems developer, to supply its fixed odds betting platform.

NYX Gaming announced this morning that it’s finalized an agreement with NZRB to become the new, sole provider of a fixed odds betting platform to the nation’s gambling agency. That’s excellent news for NYX, as NZRB maintains a 100% monopoly over all sports betting activities, including horse and greyhound racing, to gambling customers in New Zealand.

The interactive gaming company’s sports betting arm, OpenBet, will work one-on-one with the gambling agency to integrate its fixed odds betting platform. Since it was first established by the Racing Act 2003, the NZRB’s betting services have been run manually, for the most part. Digitizing the market is expected to reduce costs and, subsequently, boost the profitability of the nation’s monopoly.

Demand for Digital Fixed Odds Betting

New Zealanders have long implored the gambling agency to digitize its services with a single, interactive platform. Delivering a product in such high demand has been the goal of the NZRB for some time now, and will allow punters to make use of additional services, including omni-channel betting accounts through TAB‘s online gambling website.

The New Zealand Racing Board has projected that the new fixed odds betting platform will enable them to generate an additional NZ$20 million in profits each year. It will also enable to Racing Board to easily manage peak betting volume during major events.

Bright Future for NYX Gaming

NYX Gaming CEO, Matt Davey, commented on the company’s new agreement with NZRB in this morning’s press release.

“Our proven record of accomplishment in delivering a comprehensive range of sportsbook solutions across a diverse range of market and regulatory conditions is simply unrivalled,” said Davey.

“We have the necessary blend of experience and expertise to positively influence the detailed design phase of NZRB’s fixed odds betting platform project,” he continued. “We are honoured to have been selected from what was a highly competitive tender process.”

This marks the third new contract in recent months for the Toronto-listed gaming systems firm.

Earlier this month, NYX Gaming was approved to provide its betting platform to several Canadian provinces, including British Columbia, Ontario and Quebec; three provinces where online gambling is provincially-run and regulated.

In October 2016, NYX successfully partnered with Italian betting firms FM Gaming and PSM Gaming. That deal that saw the company infiltrate the retail gambling market in Italy; a country where NYX has already seen immense success in its regulated online offerings.

NYX graciously accepted a number of esteemed titles at the EGR B2B Awards in 2016, which surely contributed to securing all these new contracts. The firm’s Open Gaming System (OGS™) was deemed 2016 Platform of the Year, while their sports betting platform, OpenBet, was bestowed with the Sports Betting Supplier award for the seventh year running.

With this new fix+ed odds betting deal in New Zealand, and everything else that’s gone their way in the last year, the future is looking incredibly bright for NYX Gaming.