Copenhagen-based software provider Fibetco has launched its new financial betting concept BetOnFinance for the international market, following a successful trial in Denmark this year.
BetOnFinance.com is a betting product that combines financial markets with gambling, and is available across desktop, mobile and tablet devices.
Having been rolled out in Denmark through a partnership with former monopoly operator Danske Licens Spil in January, the offering has now been launched for the international market under a Class 3 licence from the Malta Gaming Authority.
BetOnFinance uses similar concepts known to sports betting fans including features such as ‘Stock Race’, which is comparable to a horse race where the horses have been replaced with stocks and ‘Index Games’, which allows users to bet on how much the market will go up or down.
“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,” explained BetOnFinance CEO and founder Jeff Saul.
“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.”
Lars DamJohnsen, a board member and former head of Tivoli Gaming, said that there had been a positive response to the initial test phase in Denmark.
“It confirmed that the product is innovative and we have seen significantly higher activity per customer than expected,” he said. “We are very much looking forward to offering our games to international players.”
BetOnFinance was founded by a group of Danish professionals with more than 30 years’ experience in the financial and gaming sectors, including David Guldbrandsen, one of the key people involved in creating hugely popular video game franchise Hitman.
The company’s chairman, Stig Holledig, said he was confident in the potential of the business.
“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,” he said.