Colossus Bets in B2B boom ahead of World Cup
Operators and suppliers to integrate pools betting product, with "big names" due to go live before start of tournament
Colossus Bets is to supply its flagship pools betting product to several “big name” operators and suppliers in the coming weeks, eGaming Review can reveal.
Interest in the product has increased with this summer’s FIFA World Cup looming and eGR understands that as many as 13 egaming companies have signed deals with the London-based firm.
Gaming platform supplier bit8 confirmed to eGR that it is among those to have signed with Colossus Bets and Keith Galea, CPO at Bit8, said the deal is a “very positive move” for the supplier.
“Colossus, with their innovative pool bet strategy, cash-in features and £10m prize fits within our strategy as these features and incentives will aid our operator clients to maximise their player lifetime value,” Galea said.
Colossus will provide the technology, however it will not be a fully-managed white label solution with partners retaining responsibility for other business operations.
Speaking to eGR, Colossus Bets CEO Bernard Marantelli said that the company’s unique fractional cash out function would be enabled with each licensee and act as a “considerable point of differentiation” from other cash-out features currently live with Betfair, William Hill, bet365 and Paddy Power.
Fractional cash-out allows customers to sell a percentage of their winning ticket at a specific price, allowing them to earn winnings at any point while still retaining an interest. Should a customer sell a percentage of a ticket that eventually goes on to win, they are paid the remaining percentage of the winnings.
Marantelli revealed that the firm had paid out more than £500,000 to losing tickets since the turn of the year, highlighting its benefit to customers over other football accumulator jackpot products.
In October last year Colossus Bets won Coral’s equivalent £1m football jackpot by placing 34,922 individual lines at £1.