Online Casino Transfer: News - New Trading Service Intentions Announced

08/30/2010		Online Casino Style: News New Trading Service Intentions Announced
Home History Games News Dictionary		According to a recent report by the London news source City AM, the online gambling company Betfair has announced their intention to introduce a new online trading service later this year, which will take advantage of their existing software and programming platforms as well as making strides in new directions. The main online casino group will be the source of financing for the new venture, with nearly all of the start-up moneis coming from the parent company. It’s a credit to Betfair’s success in the online gambling industry that they are now able to branch out into other sectors, fiscally stable enough to take risks now while many other internet casino groups are still trying to recover from the recession. The company is already well on their way to making the new trading division a reality, having already gotten regulatory approval from the FSA. The new programming will allow investors to exchange contracts, with Betfair taking a difference for mediation. Betfair won’t be doing this entirely alone, however, in spite of holding the majority of shares for the project; the financial and investment company Goldman Sachs will also be contributing to the venture, buying in for 12.5 percent of the new subsidiary. The price for such a share has not been released to the press. Nor is it Betfair’s very first attempt, as they had made moves to branch out into financial trading in 2008, launching a spin-off website called TradeFair. According to the City AM article, developers at Betfair are already well on their way working on the software that will power the platform, based upon the strength and security of Betfair’s online gambling technology.

08/30/2010

Online Casino Style: News
New Trading Service Intentions Announced

According to a recent report by the London news source City AM, the online gambling company Betfair has announced their intention to introduce a new online trading service later this year, which will take advantage of their existing software and programming platforms as well as making strides in new directions. The main online casino group will be the source of financing for the new venture, with nearly all of the start-up moneis coming from the parent company.

It’s a credit to Betfair’s success in the online gambling industry that they are now able to branch out into other sectors, fiscally stable enough to take risks now while many other internet casino groups are still trying to recover from the recession. The company is already well on their way to making the new trading division a reality, having already gotten regulatory approval from the FSA. The new programming will allow investors to exchange contracts, with Betfair taking a difference for mediation.

Betfair won’t be doing this entirely alone, however, in spite of holding the majority of shares for the project; the financial and investment company Goldman Sachs will also be contributing to the venture, buying in for 12.5 percent of the new subsidiary. The price for such a share has not been released to the press. Nor is it Betfair’s very first attempt, as they had made moves to branch out into financial trading in 2008, launching a spin-off website called TradeFair.

According to the City AM article, developers at Betfair are already well on their way working on the software that will power the platform, based upon the strength and security of Betfair’s online gambling technology.