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Microgame partners with GBE for Italian betting exchange

20 Mar 2012

(PRESS RELEASE) -- Microgame, the leading Italian betting and gaming service provider, has signed a partnership agreement with Global Betting Exchange, the leading B2B betting exchange technology provider, to introduce exchange betting to the Italian market.

The deal follows the January 16th announcement by Italian authorities that exchange betting will be legalised in Italy later this year. Both Microgame and GBE have followed successful strategies of working through networked partner models and this shared experience makes the companies ideal partners to launch exchange betting in the Italian market. Italian company BETLAB will deliver technical and commercial support to the partnership.

Microgame and GBE have been working towards the launch of an Italian betting exchange for three years and the upcoming change in legislation will allow the companies to fulfil the joint ambition of revolutionising the Italian regulated online betting market.

Microgame, as the market leading service provider in Italy, operates the People’s Network through 160 licensed online partners and has more than 2m online gaming accounts. Microgame will introduce exchange betting as an additional product, seamlessly integrated with and complementary to, its existing offerings. The service, to be called the People’s IBEX, will provide a platform where Italian punters, traders, speculators and bookmakers can all participate for their collective benefit.

Global Betting Exchange is the leading B2B supplier of betting exchange technology, operating a network of broker exchanges that feed liquidity into a central platform for the benefit of users around the world. The first GBE broker, BETDAQ, has the benefit of more than 10 years experience operating in the well developed UK betting exchange market. The GBE platform comes with an established liquidity pool matching more than 50 million sports bets to a total value of more than
€ 8.5 billion each year.

Ahead of the legislation being enacted a preview of the betting exchange platform will be shown by Microgame at the ENADA Primavera tradeshow, Italy’s most important gaming tradeshow taking place at Rimini from the 13th to 16th March 2012 (n.01, hall A7).

Microgame founder and CEO, Fabrizio D’Aloia commented:

“Microgame has chosen today's best technological partner in the world, in order to introduce this revolutionary product and bring the Italian betting market into a brand new era. It is important to underline that People’s Ibex does not have to be considered as a competitor for the traditional Italian bookmakers, but on the contrary as a great alternative for themselves to diversify their business. The betting exchange represents an additional offer for our clients, inside their current portfolio together with poker, casino games, bingo etc... Our expectations are very high, thinking both at the technological developments and at the business opportunities that it will bring to our gaming operators and their customers.”

Chief Executive of Global Betting Exchange, Brian O’Sullivan said:

“We have been monitoring progress towards the regulation of Betting Exchange in Italy and are delighted that we are close to the point where Italian consumers can benefit from the full range of betting exchange features that we have been providing to users in the UK for more than 10 years. We have worked with Fabrizio D’Aloia and Microgame over a number of years and have noted the success of their network model in the Italian market. Microgame is a perfect partner for GBE and we believe that together we have the skills and the market knowledge to make a success of exchange betting in the Italian market.”

Luca Sgarzi, CEO of Betlab added:

“Betlab is proud to play our part in bringing together Microgame and GBE, two of the most important players in their respective markets. This agreement will allow the Italian players to experience the most exciting online betting product available on the market.”
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