CHEEKY MOVE
1 June 2007
Newcomer betting exchange WBX takes a run at
Betfair's clients
Betting exchange leader Betfair's recent restructuring
of its commission scale may have created a competitive
opportunity for new rival WBX...and the company has not
been slow to take advantage of the situation. This week
WBX offered all Betfair customers their pre-restructured
Betfair commission rates in a cheeky move to poach
punters.
The offer allows all Betfair users who can show evidence
of their current level of commission to bet at the same
commission rate on WBX.
Clearly in combative mood, Malcolm Gray, chief executive
of WBX said: “Betfair’s commission redistribution
illustrates once again that a virtual monopoly in the
exchange industry is in no one’s interests apart from
Betfair’s. If exchange players want to see a genuine
alternative to the current market leader they can have
one tomorrow – they need only vote with their fingers.”
Competing aggressively with its more established rival
Betfair, the UK betting exchange WBX has reached betting
turnover of GBP58 million in only six months, according
to a company announcement last week (see previous
InfoPowa report).
A spokesman then said that in the week to May 21, the
company saw a turnover of GBP 7.46 million, in a new
record for the company, and credited its series of zero
percent commission promotions for the rising level of
turnover. The standard commission at WBX is 3 percent on
football matches, intended to undercut its rival's
higher rate.
Online Casino News courtesy of
InfoPowa
More news here.
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