Pat Potter Sports Chooses BetXTech as Provider
LONDON, UK– 23 JUNE 2008 - BetXTech has recently completed the successful deployment of its full suite of Sports Betting solutions with Pat Potter Sports Betting located in Kingsbridge, Devon. The bookmaker purchased BetXTech's complete no-risk land-based package of betting software + hardware, including: over the counter cashier, two self-service kiosk betting terminals, and odds/price display systems.
Pat PotterThe newly licensed betting shop shares premises with its parent company Kingsbridge Automatics (Fruit Gaming Machine company), South Hams Bingo, and Regal Club, and has decided to re-open the new shop after its original shop closed in 1977. Pat Potter Sports Betting was originally established in 1953 as a credit bookmaker and on course bookmaker, opening a shop when the Gaming Act allowed in 1963.
The opening of the new shop is a historical one as the bookmaker is the first of its kind under the new UK 2005 Gambling Act to base its entire core betting activities around a model that takes absolutely No-Risk on any bets (win or lose) through the use of BetXTech’s sports betting technology. This is possible because the software implemented utilises betting exchange market data and allows bookmakers to place a margin on top of betting exchange derived prices which can provide up to 20% better odds than traditional bookmakers.
Betting shop proprietor James Patrick commented on his decision to work with BetXTech, "We decided to partner with BetXTech because we wanted to use an exchange platform’s data (versus managing our own markets, compiling our own odds, and having to manage our own risk); as we felt it would give us a chance of competing with the 'big' bookmakers in our town. We cannot hope to compete with their liabilities but with BetXTech we can compete on price, offer more markets and bet in running. We chose BetXTech as they were the only company with the proven experience to deliver commercial no-risk sports betting solutions, specifically in the area of self-service sports betting terminals"
This deployment is a perfect example of an establishment that has it’s roots operating in the UK’s Adult Gaming Centre (AGC) industry, and has decided to branch out and diversify by obtaining the required permits and licenses to operate as an LBO in order to win back customers they have lost to the traditional bookmakers in the area, namely, Ladbrokes and Betfred.
One of the benefits of the sports wagering solutions developed by BetXTech is the fact that an operator does not require any experience in bookmaking. The opportunity to install a turnkey betting shop solution allows newly converted AGCs to fulfill UK Gaming Commission requirements at the same time enables them to purchase more B2/B3 category gaming machines or FOBTs.
