Mummery hails SBOBET’s move into financial binary betting

Mummery hails SBOBET’s move into financial binary betting

Friday, October 31, 2014 Totally Gaming

SBOBET’s deal with software designer and provider Tradologic to enter the financial binary betting market will help the online betting company to boost business in Asia, Bill Mummery, the company’s Isle of Man executive director, has told TotallyGaming.com.

SBOBET has launched its new financial binary betting offering through the Tradologic platform after carrying out “thorough market research and in-depth technology comparisons”.

In adding ‘financial betting’ as an offering, the SBOBET.com website will offer all of Tradologic’s products, such as ‘60 seconds’, ‘Digital Betting’ and more.

The Tradologic financial binary betting products have been launched under SBOBET’s Isle of Man OGRA and Philippines CEZA-First Cagayan licences.

“Our main markets are throughout Asia and the Asian ‘bettor’ is a very informed player and quite analytical in his or her approach,” Mummery told TotallyGaming.com.

“We believe that this form of fixed-odds financial betting coupled with the amount of statistical data available to the player will fit very well in these markets. Indeed the very initial indications fully support this view.”

Mummery acknowledged that it is difficult to quantify the potential growth for SBOBET in financial binary betting.

However, he added: “We clearly researched the sector thoroughly before investing in the platform and development costs and believe it will, in the short to medium term, become a valuable contributor to revenues.

“We see this as one of the products that will be complementary to our core Asian handicap sports betting.”

Tradologic founder and chief executive Ilan Tzorya added: “It is a great pleasure that we concluded our successful effort to support SBOBET in their foray into financial binary betting.

“Their distinguished brand further strengthens our position as the leading software provider in the industry, and further, this partnership shows a strong indication of businesses’ growing desire to add financial binary betting into their product portfolio.

“The award-winning Tradologic Binary betting product along with our OMNIX product provide the unique functionality essential for operators who are looking to diversify their offering, stay at the forefront of market demands, expand their market opportunities and enhance player value.

“I am confident SBOBET will leverage the synergies between the financial binary betting product and their existing betting products.”

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