GGT: betting platform launch
February 13 2006 - 2:02AM
UK Regulatory
RNS Number:2921Y
Global Gaming Technologies PLC
13 February 2006
Global Gaming Technologies launches new consumer betting platform with Betfair
and Betdaq
One click allows consumers to compare prices across exchanges and bet on best
live prices for the first time
LONDON, England - 13 February 2006 - Global Gaming Technologies plc (GGT.L), the
company investing in enabling technologies for the gaming market, is today
launching the first betting platform which allows consumers to compare the best
prices on different betting exchanges, and to transact with one click across a
number of exchanges.
GGT has developed proprietary technology which allows live feeds from numerous
exchanges to be displayed, so that customers can see where the best value bets
are available. Subscribers can see the prices side by side before deciding which
bets to place. A free 30 day trial version of the software can be downloaded at:
www.oddstrader.com.
Betting exchanges match bets from gamblers so that the best odds offered in the
market are displayed, rather like in a stock market. The exchange owner takes a
commission on each bet, rather than making a margin through the setting of the
odds like a traditional bookmaker. As a result betting exchanges usually provide
the best odds available to consumers.
GGT plans to add further exchanges to its platform, and to market the platform
to gamblers on a subscription basis as well as entering into affiliate
relationships with sports betting organisations. GGT has an agreement with
Betdaq and is also a software vendor licensed by the Betfair Developers Program.
This license permits GGT to build and sell applications using the Betfair API.
GGT plans to charge #50 per user per month, which it believes will represent
excellent value for consumers who will gain very important functionality and
unique access to multiple exchanges, potentially saving them many times their
subscription.
Paul Pullinger, CEO of Global Gaming Technologies plc said,
"This is a consumer application of huge value. The agreements we have reached
with Betfair and Betdaq mean that we will allow consumers to find the best
prices on offer across the two largest betting exchanges. We intend to add
further exchanges and betting information to the platform, so that we can become
a one-click, one-stop shop for gamblers who want to be certain they are getting
the best odds available."
Brian O'Sullivan, CEO of Betdaq said,
"We are delighted to be working with GGT to allow this new application to access
prices and transact bets on the Betdaq platform. This application will allow
customers to see Betdaq's prices and compare them directly with others in the
market. We are confident that Betdaq's prices and liquidity will compare
positively and we look forward to a successful launch of the Oddstrader product
by GGT".
- Ends -
About Global Gaming Technologies plc
Global Gaming Technologies plc (GGT.L) was incorporated on 16 July 2004 and
admitted to AIM on 29 November 2004. It was created to build a group
specialising in enabling technologies for the gaming and other applicable
markets. Its first acquisition was Event Data Correlation Limited (EDC) on 27
June 2005. www.ggtplc.com
About Betdaq
Betdaq was launched in March 2001 and has become the world's second largest
betting exchange. It offers two-way betting markets in key global sports as
well as UK and Irish Horse Racing. Betdaq offers particularly strong markets in
Soccer, with Asian Handicaps a speciality given a well-established base in Asia.
Betdaq is part of the Global Betting Exchange network of exchanges.
This information is provided by RNS
The company news service from the London Stock Exchange
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