Game Types
Bonuses
Slots
More
Online Casinos Poker Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Live Dealers
Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions Edit Preferences Search
 
Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW!

Related Links

Matchbook Officially Launches Exchange Betting Site in North America

5 Dec 2005

(PRESS RELEASE) -- Matchbook (www.matchbook.com) announced today that it has officially launched its online exchange betting gaming site, following its successful spring 2005 beta launch. The organization is now positioned to compete aggressively for the $100 billion North American sports betting market.

Unlike conventional bookmaking where the "house" accepts bets from clients and usually collects a five to 10 percent commission, exchange betting allows clients to eliminate the bookmaker and bet directly against one another. The result is radically lower transaction costs, as Matchbook only charges a two percent commission. In essence, Matchbook's role is reduced to that of a clearing house, no different from other electronic exchanges such as the Chicago Mercantile Exchange or NASDAQ.

The Antiguan-licensed Matchbook, created by an offshore team of financial traders and former bookmakers, is already leading the industry in North America by matching $10 million in bets per week.

"Matchbook is the bookmakers' nightmare," said Tom Ramsey, Matchbook's 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."

Matchbook's first two quarters of operations suggest that American sports bettors are taking to exchange betting even faster than their European counterparts have to date. Currently, there are more than 2,000 Matchbook users and almost all of the traffic on Matchbook is being driven by word-of-mouth, according to Ramsey.

"The North American marketplace has seen only one significant development in the past decade: the rise of online sportsbooks, which ended the monopoly held by Nevada-based and illegal bookmakers," explained Ramsey. "But online shops still book by the same old rules. As the Europeans have demonstrated, when people can bet directly with each other, betting markets become notably deeper and offer much tighter spreads."

ABOUT MATCHBOOK

Matchbook betting exchange (www.matchbook.com) is an online marketplace for predictions on sports, politics and other events of popular interest. The site allows clients (aged 18 and older) to bet against each other, applying the same electronic trading concept to sports betting. Matchbook launched in the summer of 2005 by a group of private investors, former options traders and professional sports bettors. It is currently licensed to process wagers by the government of Antigua and Barbuda, a sovereign nation in the Caribbean. It is further authorized by the Republic of Ireland to provide customer service support. Matchbook's customer service center is located in Cork, Ireland.

 
About Us | Advertising | Publications | Land Casinos