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Betdaq’s Offer to the On-Course Bookmaker
31 Jul 2004
The Racing Post has reported that betting exchange, Betdaq, is offering on-track bookies the chance of a free stake in its new venture, Racecourse Data Technology. Betdaq has teamed up with Winning Odds, which supplies systems and services to around 200 on-track customers, and together they are working on software that will link into the computer-assisted starting-price system operated by SIS, and provide a hedging facility as well direct access to the exchange markets. The company will be offering free shares to participating bookmakers.
Betdaq has spotted an opportunity to challenge the dominance of Betfair. Winning Odds director, Maurice Lindsay, told the Racing Post that Betfair’s failure to join a single on-course computerised system, allowed the company to step in and look at a solution that would allow on-course bookmakers a direct interest in the business.
“There are huge benefits for the bookmakers,” he said. “[They] will have ownership of the business, with the prospect of dividends down the line.
'Bookmakers will also receive a new software system for free, which they will own; they will pay only two per cent commission across the board for hedging with Betdaq, and they will be able to view each other's prices. I believe it's a very attractive proposition.'
Betdaq’s Rob Hartnett added: 'The licence with RDT will be non-exclusive, so bookmakers will be able to access other exchanges, as well as Betdaq, unlike the other system in use at the moment, which limits bookmakers to using one exchange.'
source:- http://www.onlinecasinonews.com
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