The financial markets and gambling are both very exciting, but it is a different thing altogether when they are combined. There is a brand new gambling product available for anyone interested in this type of betting. This innovative new online betting system is known as Bet On Finance and it has been devised by Danish company Fibetco. It is extremely popular with people who are keen to gamble on the outcomes of financial markets but might not know exactly what to do. In fact, there is no other gambling site that enables people to place wagers on share movements. Interestingly, the Danish government is considering the suitability of participating in this venture.
The man behind Fibetco, Jeff Saul, is a former gaming analyst and he has a great deal of experience in the field of finance. He has had a very long and distinguished stint at the leadership team at Saxo Bank, a well known foreign exchange brokerage firm. Players at Fibetco can bet on which company, out of a list of 30, will be the top performer for the day or at least one of the top three. Similarly, they can also bet on the losers. Interestingly, these betting games have a lot in common with fantasy sports betting in that there isn’t necessarily a correlation between the stocks that win and the actual performance of the stock in the market. Therefore, this is a pool-betting product and not a financial product and as such, there are no financial regulators to supervise it.
One of the interesting things about Bet On Finance is that it gives players the opportunity to make money irrespective of the direction of market movements. Furthermore, players can’t lose a lot of money here, unlike in stock market trading. Financial betting is also expected to be far more thrilling than sports betting, which is another reason for this product’s popularity.
Danske Spil, owned by the Danish government, is showing a great deal of attention to this product. Sofie Ustrup, spokesperson for the company, said that there is immense interest in the stock market amongst regular Danes and that stock market trading is no longer limited to financial experts. Danske Spil owes much of its success to closely following trends in the gaming business and it is very interested in this game on account of the potential it shows. Therefore, the company has committed to develop the game further and assist in testing it.
Fibetco is privately held and it has now been licensed by the government of Denmark. It is in the process of getting permissions for other jurisdictions including Malta and the United Kingdom. This is a very good time to launch this product in the market since people are very excited to be part of the financial markets. There is no doubt at all that Bet On Finance will be a major success when it is eventually launched, both in Danish and other markets, since this product is a very unique and attractive one.