Playtech chief confirms rumours of a new financial betting product

Rumours circulating late last year that online gambling software developer Playtech plc was working on a new financial betting project were confirmed in the company’s annual report for 2012 posted last Thursday.

Chief executive officer Mor Weizer said that extensive research into the possibilities for a new financial betting platform had shown that such a binary option service would be popular in the market, constituting a viable and revenue generating standalone service for Playtech licensees.

Whilst acknowledging that the growing market already contains a number of successful financial betting operators, Weizer pointed out that these were focused on different demographics, creating an opportunity for his company and its licensees.

“The conversion rates between such a [sports betting] audience and financial betting present a great opportunity for operators, not only to maximise the returns from players, but to approach a larger audience,” Weizer observed, noting the importance of achieving a first mover advantage.

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