Published: 09:37 19/12/2011
Betfair , the UK leading betting exchange has announced plans to launch a fixed odds sportsbook in 2012.
Betfair which employs over 2000 staff and has over 4 million registered customers worldwide gave further details at its first half results presentation last week where it confirmed that the fixed odds sportsbook will be launched before the end of Betfair's financial year and well in time for the Euro 2012 Championships.
Departing Chief Executive David Yu said a fixed-odds sportsbook is better suited to in-play markets and will help supplement early betting when there is insufficient liquidity on the exchange.
Yu also said that the fixed odds sportsbook will also allow Betfair to have a “promotional wallet” for the first time, allowing it to compete with bonuses and free bets offered by traditional bookmakers.
Betfair has struggled since it's disastrous float on to the London Stock Exchange in 2010 but last week was able to announce a 13% year on year increase in ebitda for the first six months of the year to £42.4M.
Betfair currently offers all new online accounts a FREE BET to the value of £25 as an introductory offer . The majority of UK focused fixed odds bookmakers have more competitive introductory free bet offers as can be seen from our list of recommended Free Bets below.
The Betfair betting exchange often provides customers with better pricing and more choice and flexibility than competing products, which has resulted in Betfair’s customers in the past showing greater levels of loyalty than its competitors.
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Victor Chandler £25 Free Bet
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