Betting Exchange Launches In The USA
Published: Tuesday, December 06, 2005 Online-Casinos.com
BETTING EXCHANGE LAUNCHES IN THE USA
Ambitious move into a difficult and competitive market by Matchbook
Irish betting exchange Matchbook.com announced this week that it has officially launched its online exchange betting gaming site, following its successful spring 2005 beta launch. The company is now positioned to compete aggressively for the $100 billion North American sports betting market.
A spokesman for Matchbook said the company charges a two percent commission on P2P betting between clients. In essence, Matchbook's role is that of a clearing house, no different from other electronic exchanges such as the Chicago Mercantile Exchange or NASDAQ, the spokesman said.
Antiguan-licensed Matchbook was created by an offshore team of financial traders and former bookmakers, and has already made inroads into the North American market by matching $10 million in bets a week.
"Matchbook is the bookmakers' nightmare," said Tom Ramsey, vice president of development. "Exchange betting has already shaken up the $30-billion European sports-betting marketplace, and now the North American market is experiencing a similar transformation."
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