Suppliers OpenBet are to provide Betfair with the software for the exchangeâ€™s move into fixed-odds betting.
OpenBet will supply underlying sportsbook technology to allow Betfair to compete in markets where it has traditionally been less competitive.
The firms have worked together on previous projects, including a 2008 deal that saw OpenBet provide Betfair with the technical infrastructure for the Betfair Arcade product, and a 2011 agreement for Betfair to utilise OpenBetâ€™s B2B back-end platform for their mobile sports-betting offering.
Ian Chuter, group operations director of Betfair, said: â€śOur next-generation sports product will complement our exchange and enable us to offer competitive prices on markets that previously we were unable to offer or were only very illiquid.â€ť
OpenBet chief executive David Loveday added: â€śAfter many years of working together, OpenBet is proud to be part of Betfairâ€™s biggest innovation since it was first launched.â€ť