Five percent share

BETFAIR HAS ANNOUNCED that it will begin offering third-party developers a five percent share of the revenue generated from their Betfair-integrated mobile products.

The recently floated exchange announced the launch was to "stimulate and support innovation in the fast moving mobile betting industry and to increase the amount of high quality mobile applications available to its customers," according to its official release.

Betfair's Exchange platform has been open to third-party developers since 2005, but this represents the first time a revenue share deal has been introduced.

The company's Sports API (Application Programming Interface) has led to over 100 third-party products being built and used by several hundred thousand Betfair customers over the past five years.

Betfair's Head of Platform Strategy, Tom Johnson, said: " Betfair is excited about the future potential and growth we've already seen in mobile betting and we're keen to work with our developer community to build more high-quality mobile products for our three million customers to use.

"The combination of the open nature of our Sports Exchange and the strong existing relationships we have with our developers has ensured that Betfair supplies products that not only push the boundaries of quality and innovation but ultimately provide our customers with the betting experience that they want. We're confident that this new revenue share deal will further improve our product offering, our partnerships with our developer community and the experience of our customers."
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