It’s been a busy year for the debt-free, Australian wagering operator BlueBet. Before announcing the launch of its first US-based sportsbook in Iowa at the end of August, the ASX-listed mobile sports betting company sealed deal with Caesars to mark its entry in Indiana. The company that recorded a fourth-quarter turnover of close to $100 million that signaled a 40% increase compared to previous numbers, has made a new strategic investment. BlueBet has decided to inject half a million into UK-based Low6, a free-to-play sports gamification platform provider.
The $500k Investment Expected to Help BlueBet Grow
Low6 generates fantasy and free-to-play games meant to engage sports audiences for betting operators, franchises, and media companies. The company also operates the UltimateFan fantasy app and Pick ’Em-style games, among others. BlueBet has decided to make the investment in order to expand its offering with free-to-play games while attracting newcomers and engaging current players that are already part of its customer base.
The decision will allow BlueBet to release its products on Low6’s platform for the upcoming five years. At the same time, the newly signed deal has also highlighted the company’s commitment to adding fresh and innovative titles to its portfolio.
Free-to-Play Games, a “Huge Adjacent Opportunity”
BlueBet’s chief executive officer Bill Richmond expressed the company’s excitement regarding the new strategic investment. He called Low6 “one of the global leaders in sports gamification technology” and further explained that BlueBet envisions free-to-play games as an important “adjacent opportunity” to their core sportsbooks. Richmond also explained the company was well aware of young players’ genuine desire to expand their gameplay and test out fantasy sports with them. Low6’s bespoke iGaming solutions for BlueBet are, therefore, expected to match their “differentiated consumer brands”, further drawing in new customers in Australia and the US via ClutchBet.
BlueBet is currently powered by a scalable and customized platform that relies on cloud technology with a focus on offering customers the best experiences. The operator has created its own customer-focused website, technology platform, and native apps with the purpose of delivering top-tier mobile experiences to players on the go. BlueBet intends to keep growing in Australia and capitalize on the scalability of its technology platform while taking advantage of the green light given to sports betting in the US. With a rich history of partnering with prestigious sports leagues and clubs, Low-6 develops white-labeled gamification solutions including Tribal, Fantasy, Picks, and Brackets, while focusing on customer retention, acquisition, and gaming. Last week, Low-6 partnered with Rivalry to roll out a new Pick’em game.