Bruin Capital buys Flutter betting affiliate in $218 million deal

[The Buzz]

Bruin Capital has reached an agreement to acquire sports betting affiliate Oddschecker from Flutter in a deal worth up to $218 million.

Bruin, which has a porfolio that includes sports media tech company Deltatre, marketing firm Engine Shop and venture capital firm CourtsideVC, will pay roughly $190 million (£135 million) up front, with another $28 million (£20 million) in deferred considerations.

From Yahoo! Sports:

Oddschecker Global Media, which is popular in the U.K., offers odds comparisons, tips, promos and data for gamblers. Bruin is planning to expand its offerings—possibly through partnerships with teams and leagues—and help fund its expansion in the U.S.

Oddschecker “is a dynamic company with tremendous potential,” Pyne said in a statement. “The team has deep, fact-based intelligence and experience with the mindset and needs of bettors at every level. They’ve turned that into a very diversified, service-oriented business that uplifts its partners and its own interests.”

This is the 23rd principal or add-on investment for Bruin, which Pyne started in 2015. The group’s targets have increasingly come in technology; Bruin has spent roughly $500 million in the space, including recent acquisitions of ad tech firm TGI Sport (a $100 million deal) and data analytics company Two Circles.

Read more here: https://sports.yahoo.com/bruin-capit...161507082.html

And here is the official press release: https://www.gpwa.org/article/flutter...on-deal-240596

[universal4]

Does this mean that later, when they realize that was too much to pay they will say, "Well we considered the additional 20/28 million and decided not to pay that."

Just seems like a bit over the top, and I wonder if the service being provided to others will now see a big increase in pricing, which may or may not also end in more odds providers entering the space.

Rick
Universal4

[Triple7]

Does this mean that later, when they realize that was too much to pay they will say, "Well we considered the additional 20/28 million and decided not to pay that."

Just seems like a bit over the top, and I wonder if the service being provided to others will now see a big increase in pricing, which may or may not also end in more odds providers entering the space.

Rick
Universal4

That depends on whats agreed about that. Usually it are earn outs based on performance.

[Scorebetting]

Oddschecker website is barely usable and is just one big ad. The odds checker idea was brilliant, but surely it's way past peaked.

[newcustomeroffer]

Oddschecker website is barely usable and is just one big ad. The odds checker idea was brilliant, but surely it's way past peaked.

Thing is, they've also let the quality of the service slip over recent times too. There's regular feed errors and mismatches due to naming differences between players, horses etc - never going to be perfect, granted, but there used to be a lot more attention to detail.

Ripe for someone to challenge them I think.

[tufty]

Thing is, they've also let the quality of the service slip over recent times too. There's regular feed errors and mismatches due to naming differences between players, horses etc - never going to be perfect, granted, but there used to be a lot more attention to detail.

Yes, they have really let things go. Most ante-post / futures markets are completely messed up nowadays. This is just down to non-existent office management. It used to be excellent maybe 7 years ago and more. It got really bad overnight. Now you can tell nobody cares that the markets are riddled with errors and the mapping of names is not done properly and feeds from one market can appear in the wrong event, so it is a mess. Amazingly this stuff then never gets corrected, so long-term markets are messed up for months. This could be easily fixed. A manager could fix this in a day - it just requires people on the ground to start doing their job and stop being bone idle.

I can see the appeal to a usa-facing company. It is ripe to expand properly into the usa market.

As for the deferred payment due on the purchase, this is standard and, as someone has said, is always linked to performance over say the next year or two. It is there to make sure the vendor doesn't just take the money and run out the door the moment the purchase happens. It smooths the transfer of ownership with an incentive to keep things improving.

[oncasilab]

I really feel the high demand for sports betting.