Having successfully launched in Denmark as a “proof of concept market” earlier in the year, BetOnFinance.com is now launching internationally under a Malta licence.
[dropcap]C[/dropcap]openhagen-based software firm Fibetco is launching its flagship financial betting product, BetOnFinance, on the international stage after a successful trial launch this year on home turf.
After launching in Denmark this January, in partnership with Danske Licens Spil, BetOnFinance has been granted a Class Three Maltese licence under which it will be launching on the international market.
Until now, it’s not been possible to bet on stocks and improve investment skills without putting a huge amount of savings at risk. BetOnFinance fills this gap: with its team of expertise comprising more than 30 years of experience within financial markets and the gaming industry it provides betting on individual stocks in a way that makes the stock market accessible to anyone.
By using similar features players will recognise from sports betting – such as ‘Stock race’ which mirrors horse racing and ‘Index Games’ which allows players to bet on how much a market will rise and fall in a given period, Fibetco makes the stock market both entertaining and educational.
“The Index Game is for both individuals with knowledge about the stock market and newcomers wanting to try their hand at the stock market in an uncomplicated way,” explained BetOnFinance CEO and founder Jeff Saul.
“In this game, you just have to bet on how much the stock market will rise or fall. Meanwhile Stock Race presents you with a choice of 30 stocks and you have to select the best or worst performers.”
Players can make profits on the market whether stocks go up or down. Also they will never lose any more than their initial stake, which can be as low as 1 Euro, as opposed to leveraged products such as spread betting. The average win by players betting on the correct percentage change in the Index Games is settled at staggering odds of 18.6 – more than 17/1. BetOnFinance believes that attractive profit opportunities, as these clearly lay the foundation for bigger pools.
“You need critical mass before the pool sizes become really attractive,” said Saul, “there is no doubt that the added volume from international players will make the pools grow significantly.”
Board member Lars Dam Johnsen said that the trial phase in Denmark had proven the viability of the offering.
“We are very pleased with the positive market response we have had in our test country Denmark. The new product made headlines both in betting related communities and several times in the business and financial newspapers and national TV,” he said.
“It confirmed that the product is innovative and we have seen significantly higher activity per customer than expected. We are very much looking forward to offering our games to international players.”
The global online gambling market is growing at an annual pace of 1015%. Combine this with significant interest in the stock market, and BetOnFinance anticipates that it will be entering a significant growth phase.
Chairman Stig Holledig added: “We have gathered a team with strong capabilities within both financial markets and game development and this combination has enabled us to identify a gap in the market and to develop this unique new concept for which we see a significant global market potential.”