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TopBetta Holdings’ shares rise on securing UK betting licenses

The licences will allow the company to execute a number of initiatives.
TopBetta Holdings’ shares rise on securing UK betting licenses
The Global Tote wholesale B2B platform is being launched in the UK

TopBetta Holdings’ (ASX:TBH) shares were trading higher after receiving licences to operate in the UK from the UK Gambling Commission.

The licences allow the company to launch the retail TopBetta business and The Global Tote wholesale B2B platform into the UK market.

TopBetta’s shares were last trading 15% higher intra-day, at $0.42.

The UK licence for TopBetta allows the company to provide facilities for real event betting.

The licence for The Global Tote allows it to manufacture, supply, install or adapt gambling software to provide facilities for pool betting.

Importantly, the Global Tote licence will allow the company to execute a number of initiatives, with one of the most significant being the export of Australian racing into the UK markets.

TopBetta recently entered into a global distribution deal with British racing to allow wagering operators the ability to bet into the same pools from any location globally.

Furthermore, the company has also acquired distribution rights for the British and Irish greyhounds, which includes vision rights for these events.

The Global Tote expects to be live with both racing and greyhound products on UK racing before the end of the year.

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