Poll: Should more operators consider a move into financial betting?
This week's poll asks whether expansion into financial betting is a logical progression for egaming operators
Last week’s news that Playtech has moved to expand its position in the online financial trading sector by agreeing to acquire retail CFD trading company Plus500 for £459.6m has re-opened an old debate over whether egaming firms are well placed to diversify into FX and other financial markets.
Playtech certainly isn’t the first egaming firm to make the move. Operators including William Hill – which runs a separate financials portal – and bet365, offer limited products, while Betfair operates its dedicated Tradefair platform.
Expansion into financial betting is clearly more of a risk, and normally a far greater investment, than jumping from one of the traditional verticals to another.
But with poker in decline and competition tougher than ever in sports betting, casino and bingo, verticals like Forex are growing in appeal. A wide range of betting options, some of which relate better to punters more used to betting on sports, is helping broaden financial betting’s appeal.
The rewards of turning sportsbook customers into financial bettors are clear, particularly during a summer without a major football tournament or an Olympics. And acquiring a new demographic in financials might even open up some cross-sell opportunities to a firm’s core verticals.
So with this in mind, this week’s eGaming Review poll asks whether more operators should consider a move into financial betting. Have your say on the right-hand side of the page.