As per the agreement, SIS will provide its live betting services to bet365 around-the-clock and will also create a special live drawings product for them.
Twenty-three hours a day, Lotto365 will provide live drawings every five minutes. The lottery will be produced and televised live from the Milton Keynes television studios of SIS.
Players can potentially win up to £100,000 ($120,000) from a £1 wager using a "pick five from 36" format if all of the numbers are drawn correctly.
Bet365 claims that even in the event that only one matching ball is found, its new lottery game will still give away a number of minor rewards.
In addition, Lotto365 will provide betting options for both the colour and odd/even number of balls drawn.
Lotto365, which debuted in English, will soon be available for streaming in other languages. The 49s.co.uk website will provide all lottery results.
"Lotto365 reaffirms our commitment to investing in a high-quality lottery portfolio," a bet365 spokeswoman stated. For many gamblers in the bet365 group, it's a crucial product, so this new offering will be quite tempting.
"SIS was the go-to partner to support the development of Lotto365, and 49's and SIS have a long history of producing best-in-class lottery content."
Jessica Mills, the Head of Product Proposition at SIS, continued, "We are thrilled to be working with bet365 to offer this innovative new initiative. The product team at 49 has put in a great deal of effort to help with the conception and advancement of Lotto365.
"The introduction of Lotto365 is evidence of the exceptional standing and legacy of our 49's product line, which has been providing dependable and superior live number drawings for more than 25 years. With bet365, this initiative has truly been a collaborative effort, and we are optimistic that the offering will draw in a larger player base.