The innovate new product will enable licensed wagering operators from all over the world to participate in a global pool.
TopBetta is Australia’s first fantasy wagering company to be listed on the ASX and is licensed to conduct race wagering and sports betting tournaments.
The Global Tote is expected to provide better returns for wagering participants that will be available through a host of wagering operators and racing bodies.
Importantly, no punters will be restricted from betting into the pools and instead will be encouraged to take part in this progressive global wagering offering.
TopBetta has licensed the technology from the Australian wagering technology company, Modern Wagering Systems Pty Ltd and Live Datacast Pty Ltd.
On fulfilling the conditions of the agreement, TopBetta will be assigned all intellectual property rights in the customised software components developed for The Global Tote.
The company will be granted an irrevocable, perpetual, royalty free licence to use the Global Tote exclusively for the first 2 years, and non-exclusively thereafter.
TopBetta’s share price has increased by 150% over the past three months, last trading at $0.25.