SBC News BetonFinance.com aims to make 'financial markets available to the man on the street'

BetonFinance.com aims to make ‘financial markets available to the man on the street’

Screen Shot 2016-08-31 at 12.43.14
Jeff Saul

Danish firm Fitbetco ApS has announced the international launch of subsidiary BetonFinance (BetOnFinance.com), a new betting product allowing consumers to bet on financial markets and win tax-free profits.

Developed by a team of with over 30 years’ experience in financial trading and betting,  BetonFinance launches internationally with the corporate aim of “making financial markets available to the man on the street”.

The launch of BetonFinance follows a ‘proof on concept stage’ within the Danish betting market. Branching out its subsidiary, Fitbetco ApS has secured a Malta Gambling Authority license for BetonFinance services.

“We have seen stock markets continuously moving higher since the financial crisis reached its peak creating significant interest for investing in the stock market. This combined with the volatile stock markets witnessed over the past year, makes the timing ideal,” commented Founder Jeff Saul, the former Head of Equities Business at Saxo Bank and CEO of Euroinvestor.

Aiming to simplify financial wagering, BetonFinance will open its ‘stock’ betting market at €1 wagering fee. Also they will never lose any more than their initial stake, as opposed to leveraged market products such as spread betting.

The ambitious new industry player has also brought new concepts to the betting market, introducing its ‘Stock Race’ product which is comparable with that of a horse race and its ‘Index Games’ which allows players to wager on overall market performance (NASDAQ, FTSE, OMX, etc…)

“The Index Game is for both individuals with knowledge about the stock market and newcomers wanting to try their hand at the stock market in an uncomplicated way. In this game, you just have to bet on how much the stock market will rise or fall. Meanwhile, Stock Race presents you with a choice of 30 stocks and you have to select the best ­ or worst ­ performers,” Saul explained.

Screen Shot 2016-08-31 at 12.44.40     Screen Shot 2016-08-31 at 12.45.45

Following its Danish launch, BetonFinance backers have high ambitions for the company, which aims to bridge the a commercial gap between everyday punters and complicated finance markets.

BetonFinance Chairman Stig Holledig commented on the firm’s initial ambitions: “We have gathered a team with strong capabilities within both financial markets and game development and this combination has enabled us to identify a gap in the market and to develop this unique new concept for which we see a significant global market potential.”

Board Member Lars Dam­ Johnsen backed the new enterprise, adding: “We are very pleased with the positive market response we have had in our test country Denmark. The new product made headlines both in betting related communities and several times in the business and financial newspapers and national TV. It confirmed that the product is innovative and we have seen significantly higher activity per customer than expected. We are very much looking forward to offering our games to international players.”

Saul is confident that the new site will appeal to gamblers, especially as the average win by players betting on the correct % change in the Index Games is settled at odds of 18.6 –  more than 17/1. He also says that attractive profit opportunities as these clearly lay the foundation for bigger pools: “It’s like the hen and egg situation. You need critical mass before the pool sizes become really attractive and there is no doubt, that the added volume from international players will make the pools grow significantly.

“Our players say that the games provide them with unique new tools and knowledge that benefit them in the real stock market, as well as enabling them to profit from the investor skills that they might already have.”

Check Also

Better Collective

Better Collective eyes ‘home support’ with Copenhagen dual listing

Better Collective AS will place its shares on Nasdaq Copenhagen, supplementing the media group’s current …

SBC News EEG promotes Villani to CFO for reogranisation 

EEG promotes Villani to CFO for reogranisation 

Esports Entertainment Group Inc (EEG) has confirmed the promotion of Michael Villani to Chief Financial …

SBC News Codere Online positive of 2024 cash flow following Q2 growth spurt 

Codere Online positive of 2024 cash flow following Q2 growth spurt 

Codere Online continued its robust momentum in Q2 trading as strides were made across its …