From the City Desk: Here's a couple of Press Releases on your favourite Betting Exchanges

[Gordon McIvor Wilson]

First one from Matchbet:
"Press Release 4th August 2009

Matchbet is Heading South

Matchbet is pleased to announce the successful completion of a joint venture with HSL (Heading South Limited) to offer international sports betting via the foremost bingo and games website in Latin America (apostouganhou.com).

Matchbet is the uniquely flexible UK sports and event betting website (Matchbet.com) which allows backers and layers enhanced liquidity across a broad range of markets - including in play opportunities and odds boost via a patented betting definition matrix.

HSL has developed the most popular web bingo network in Latin America through a policy of constant innovation and development resulting in a state of the art user interface and a range of award winning games.

Andrew della Casa, Director of HSL commented: 'We wanted to develop a partnership to enable us to integrate sports betting into our successful Latin American gaming network. We researched the global marketplace and our search ended in the UK with Matchbet. They offer a perfect addition to our sites which will prove a hit with our ever growing Latin American customer base.

Doctor Ben Seifert, Chairman of Matchbet, was similarly enthusiastic 'Having successfully developed our platform in the UK, where we offer both bookmakers and consumers an enormous range of enhanced betting opportunities through our strategy of advancing bookmaking, we were viewing global development opportunities. We have arrangements in mainland Europe which are awaiting legislative approval as markets open up and we are developing new market options with various leading market players. The chance to offer our services and then to be selected by HSL was fantastic. We are delighted to be working together and look forward to continued success.'

Release ends."

And the second one relating to Betfair:

"Betfair set fair for a float
Robert Lea
05.08.09
The odds shortened today on a flotation of Betfair after the world's largest betting exchange reported soaring revenues and profits.
In stark contrast to the falling business in the High Street bookmakers as witnessed yesterday by a profit warning from William Hill, Betfair today reported revenues of £303 million in the year to the end of April, up 27% year on year and double where they were three years ago.
Since then the exchange has tripled its active user numbers to 650,000. Profits for the year were up 29% at £72 million.
“It is hard to believe where we are, considering the world recession and the severe effect on leisure spending,” said chief executive David Yu.
“There is a progression to online betting [away from the High Street] as people want to be more selective on what they bet on and find better value.”
Betfair makes its money by taking commission of up to 5% on the winnings of the matched bets of either punters or those choosing to act as the bookmaker on its site.
Betfair is 25% owned by founders Bertie Black and Ed Wray and 20% by Softbank of Japan, with another 25% in the hands of private equity, and has been a hot tip for a float.
“We don't need to raise capital but we will need a liquidity event [to allow shareholders to cash in],” said finance director Stephen Morana. “A float is an obvious option

Ends"

Keeping you all posted with the uptodate news of your favourite exchanges - its our constant aim!

[Adonis First]

@Brian Ford.... people have had their tongues cut out for evenTHINKING such a thing, you know.....
Have you checked if your account has been closed yet?
Many chuckles,
Adonis

[Brian Ford]

I expect a few skeletons to fall out of the cupboard in the meantime. May be a particularily large 1 concerning a well known larege punter with an even larger credit account that a lot of people think he wont ever pay.

[Richard Stoddart]

Thanks for accpeting my invitation on Linked In. Will definitely give you a rundown on any betting terminolgy you are not sure of. Good to here Matchbet are drumming up business.

[Ron]

Well one of them must be right, soaring profits or declining profits, take your pick.