SPORTING INDEX SIGNS PARTY GAMINGDEAL
Agreement signals cultural shift in supply of prices to the betting industry
London, 8th September - Sporting Index, the world’s leading sports spread betting company, is pleased to announce that it has signed a ground-breaking agreement with PartyGaming Plc, the world’s leading listed online gaming company, to provide a comprehensive fixed-odds horse racing service on its PartyBets.com platform. The new service features full coverage of UK, Irish and premier international race meetings including early prices, ante-post markets and specials.
The agreement signals the beginning of a shift in the way prices and liability management will be provided to betting and gaming businesses. Sporting Index’s revolutionary wholesale service combines the expertise of the company’s highly regarded traders, technological advancements and sophisticated proprietary models to provide enhanced pricing capabilities. As a result, Sporting Index now produces a wide array of markets, particularly for in-running betting, in multiple formats.
Sporting Index CEO Richard Glynn commented: “The betting industry faces a challenge. Declining online sports book margins coupled with rising customer acquisition costs and a scarcity of premium sports market makers means sports books are increasingly expensive yet increasingly central to a rounded product mix. This is especially true for in-running betting which has quickly become the key client retention battleground.
“Sporting Index’s core strengths have always been market making and in-running trading, positioning us uniquely within the industry. The creation of our wholesale product now offers the wider industry a bespoke turnkey pricing and liability management service. We are delighted to be providing a company with the reputation of Party Gaming with this wholesale service and see this as the beginning of a change in the way betting services are provided in the wider market. It is important to remember that traders are gold dust; without the best you cannot achieve a customer friendly, profitable service.”
Background
About Sporting Index
Founded in 1992, Sporting Index is the world’s only dedicated sports and event spread betting company. It is the undisputed market leader in the sports spread betting arena with an estimated UK market share of over 70%. The company has 110 employees all based in its London office. It offers spread bets on a wide variety of sports including football, racing, rugby, cricket, golf, tennis, various American sports and a portfolio of virtual games. The company also offers spread bets on events such as the General Election and popular TV reality shows. Sporting Index is authorized and regulated by the Financial Services Authority (FSA).
SPIN Services, a subsidiary company created to service wholesale customers, was set up in 2007.
About PartyGaming
Founded in 1997, PartyGaming is the world’s largest listed online gaming company. The Group offers a variety of games through an integrated Party-branded platform and through a number of secondary brands. The Group's key gaming sites include PartyPoker.com, one of the world’s largest online poker rooms and PartyCasino.com, one of the world's leading online casinos. In addition, the Group offers online bingo through PartyBingo.com, online backgammon through PartyGammon.com, and sports betting through PartyBets.com and Gamebookers.com. PartyGaming does not accept wagers or deposits for real money games from customers located in the U.S.
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