Betfair Expands into Spread Betting
29th October, 2007
London Capital Group Holdings plc, the financial services and online spread betting company has just made an agreement with Betfair, the innovative egaming operator to use the LCG’s white label spread betting product. Betfair, the leading online betting exchange site, uses new technology to allow users to choose their own odds and bet against each other. At Betfair, over five million transactions are processed a day—that’s over 300 bets a second.
With LCG’s white label spread betting technology, Betfair will now include games with various types of wagering for the outcome of an event, where the pay-off is based on the accuracy of the wager, rather than just a “win or lose” situation. A spread is a range of outcomes, and the bet is whether the outcome will be above or below the spread. Spread betting has become increasingly popular in the UK in recent years.
