FAST TAKE-OFF FOR WBX

25 May 2007

Betting exchange hits GBP58 million betting turnover in six months

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 this week.

A spokesman said that in the week to May 21, the company saw a turnover of GBP 7.46 million, in a new record week 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.

WBX CEO Malcolm Gray says, “The fact that other firms are now also adopting our zero percent commission promotional offers suggests that even if they are not yet worried about WBX, they are at least starting to look over their shoulders.”

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