Betfair is set to launch a new fixed-odds betting website to compete traditional bookies, The Telegraph newspaper reported Sunday. Nick Hagen, Betfair’s sports operations director, said: “We know from our own research that we lose 30pc of our customers’ sports betting wallet to the competition. Why should customers have to go elsewhere and why would we willingly let this large chunk of business walk out the door?”
David Loveday, OpenBet’s chief executive, said: “We think this will help Betfair penetrate new markets. There are certain markets that don’t really know what an exchange is. Offering fixed-odds will give them a way in.” Ivor Jones, an analyst at Numis, said Betfair’s new service would “dramatically expand the range of bets available”.
The new site will apparently be ready for action in time for the Euro 2012 football championship, & will widen the internet betting company’s offering into an area where it perceived itself to be at a disadvantage.
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