Sports Betting Provider FSB Reports 38% Increase in Cheltenham Bets
Sports Betting Provider FSB Technology has released statistics following the conclusion of the Cheltenham Festival which is one of the most popular horse-racing events not only in the United Kingdom, but also across the world. With licensed UK betting sites and bookmakers having fully recovered from the effects of the Covid-19 pandemic and having returned to full operation, industry experts predicted that betting will see a healthy growth across all media and platforms. FSB, however, reports that during the event the company processed a record 38% more bets compared to 2021.
Further to this unprecedented success in the world of horse-racing, FSB reports that the number of active players across the betting sites using FSB software and products has gone up by 45% during the Festival. The company also reports record numbers in platform revenue, and an increase of 5% in turnover compared to the same period in 2021.
Speaking about the numbers, FSB Sportsbook and Trading Director Mark Wilson said:
“As a sportsbook first supplier with deep expertise across horse racing, the Cheltenham Festival is one of our tentpole events within the sporting calendar so naturally we are thrilled with these striking set of results. Attaining double-digit growth across a number of key metrics is testament to the dynamism of our teams as we strived to deliver an enhanced product proposition to our partner community over the four days. We now look forward to next month’s Grand National confident in our continued ability to deliver a horseracing betting experience to the industry.”
The first quarter of 2023 has been very successful for FSB. In addition to the record numbers and profit from the Cheltenham Festival, the company struck an exciting deal with UK betting site Fitzdares, which saw the bookmaker launch FSB’s sportsbook and back-office software in Ontario, Canada, which is a brand-new betting market and jurisdiction for it. In addition to Fitzdares, some of the popular UK betting sites and bookmakers using FSB software and products include Bet Goodwin and The Pools.
FSB has ambitious plans of growth and expansion for the future. Only 2 weeks ago, the company announced that Adam Smith will be its permanent CEO. Very experienced and motivated, Smith will aim to develop new products and improve the existing FSB portfolio in order to offer betting sites and bookmakers the exact services they require in order to run their business. Indeed, the company’s portfolio is already very rich, offering everything from sports betting omnichannel solutions to retail self-service kiosk and their installation and servicing. FSB is also big on the management and development side of businesses, and betting sites can benefit of services such as managed trading, bespoke data feeds, compliance consultancy, marketing services, and much more.
As pointed out by Mark Wallace, FSB is already preparing for the Grand National, which is another significant horse-racing event in the UK, attracting fans of horse-racing and betting from all over the world. Another National Hunt event, the Grand National will be held on Saturday, 15th April 2023, and will be extremely well covered across popular UK betting sites, which offer event-specific promotions and bonuses as well as new customer introductory offers and a wide variety of betting markets and options. For those who won’t be attending the event at Aintree Racecourse in York, the opportunities to place a bet on their favourite horse will be numerous. Some of the favourites for this year’s Grand National include Corach Rambler (6/1), Noble Yeats (8/1), Delta Work (12/1), and Mr Incredible and Any Second Now (both 14/1).
It is evident that FSB Technology is working hard to attract new B2B business customers and add to the number of betting sites using its advanced, state-of-the-art betting and iGaming software. Prior to the Cheltenham Festival, the company launched some new products such as Bet Boost, Integrated Forecast, and Tricast Betting. The company is eager to reach more bettors and increase the number of bets it processes even further, and the statistics in their post-Cheltenham report show that customers enjoy the company’s products, thus improving engagement and retention. FSB also likes to run dedicated platforms specifically for major events like Cheltenham and the Grand National, which help users focus on event-specific content and betting markets.
While the company has not yet partnered with one of the large UK betting groups such as Entain (the owner of Ladbrokes and Coral), bet365, or William Hill and 888 Group, successes like Cheltenham are certain to attract attention. It is undoubted that the company will do well throughout 2023, and we will report any relevant new deals or events on our blog.