Saturday March 16,2013 : PLAYTECH CHIEF CONFIRMS RUMOURS OF A NEW FINANCIAL BETTING PRODUCT (Update)
 
Development work for the new product, which will be offered to licensees, will begin soon says Weizer
 
Rumours circulating late last year that online gambling software developer Playtech plc was working on a new financial betting project were confirmed in the company's annual report for 2012 posted last Thursday.
 
Chief executive officer Mor Weizer said that extensive research into the possibilities for a new financial betting platform had shown that such a binary option service would be popular in the market, constituting a viable and revenue generating standalone service for Playtech licensees.
 
Whilst acknowledging that the growing market already contains a number of successful financial betting operators, Weizer pointed out that these were focused on different demographics, creating an opportunity for his company and its licensees.
 
"The conversion rates between such a [sports betting] audience and financial betting present a great opportunity for operators, not only to maximise the returns from players, but to approach a larger audience," Weizer observed, noting the importance of achieving a first mover advantage.