Monday May 21, 2012 : BETFAIR WIDENS ITS OFFERING
New fixed-odds website will compete directly with traditional bookies
Online gambling group Betfair is about to launch a new fixed-odds betting website that will bring it into more direct competition with traditional bookies, The Telegraph newspaper reported Sunday.
The new site will apparently be ready for action in time for the Euro 2012 football championship, and will widen the internet betting company's offering into an area where it perceived itself to be at a disadvantage.
With 4 million punters on its books, Betfair makes a formidable competitor in the sector, and the new site will enable it to gather up the 30 percent of its players' wagers that are currently being placed elsewhere.
Openbet has developed the new facility for Betfair, and has wide experience, having worked with major groups like William Hill, Paddy Power and SkyBet.
Nick Hagen, Betfair’s sports operations director, told the newspaper: “We know from our own research that we lose 30 percent 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?”