03/15/2012 : MATCHBOOK ACTIVATES NEW MULTI-CURRENCY PLATFORM
New facilities will help in betting exchange's European expansion
The Matchbook online betting exchange appears to have successfully outrun its US exit and former troubled reputation in that market following its acquisition early last year by an unknown group of investors.
This week Matchbook's CEO, Andrew Pantling, announced the release of the company's new multi-currencu platform, which gives punters the choice of betting in Euros, Canadian dollars, Hong Kong dollars or pounds sterling.
Pantling, who was formerly chief exec at Cashsports, a pools betting company licensed in Malta and specialising in social i-gaming products, revealed that a heavy investment has been made in technology and product at Matchbook since its acquisition in February 2011 and subsequent departure from the US market on legal advice.
The company will soon launch a mobile app to take advantage of the growing popularity of the mobile channel, and further augment the remarkable growth in Europe that Matchbook has achieved, he said.
"The growth we have achieved has surprised even us," Pantling observed. "This further confirms our belief that the industry is crying out for a low commission, betting exchange alternative which delivers value back to the punter.
"These are exciting times for Matchbook and sports gamblers alike, and will allow us to expand on the growth we've already seen, as well as adding to our position as the number one place to bet on NFL, NBA, NHL and MLB."
Back in February last year, Pantling took to the twoplustwo message board to advise that Matchbook was exiting the US market and had a new ownership, which he stressed was totally unconnected to WSEX despite widespread industry speculation.
"Matchbook intends to expand our operations into the European and Asian markets through encouraging a steady increase in event liquidity as well as expanding payment channels into these markets," Pantling wrote at the time, advising his fellow posters that he was involved in the acquisition.
"The [new] owners bought Matchbook because there is tremendous value in the brand, software and liquidity," Pantling explained. "While management expects a small reduction in liquidity, from not allowing US players, we feel this will be more then made up for when we move into Asia in the coming weeks." Pantling noted back then that over half of Matchbook's existing players were non-US.
He added that the Financial Services Regulatory Commission, (FSRC) on Antigua had signed off on the acquisition