32Red Launches New Sportsbook Powered by GBE

Following the failure and subsequent divestment of its previous sports betting business Betdirect, 32Red plc has announced the launch of its new online sports betting service, 32RedBet.com, powered by Ireland's Global Betting Exchange (GBE), a leading provider of exchange and sportsbook software.

GBE will power the new sportsbook through its iBroker sportsbook platform, providing management, market pricing and liability management.

The launch of the betting platform rounds off 32Red's online gaming portfolio which includes casino, mobile casino, poker, bingo, rummy and financial spread betting.

"We are very pleased to be launching a 32Red online betting service ahead of what should be an interesting year with England's participation in the 2010 World Cup," said Ed Ware, CEO of 32Red.

"Adding sports betting to our existing range of online gaming services goes a long way to completing our product range and, apart from encouraging our existing players to use 32Red for their sports betting requirements, will also allow us to target new areas in our existing markets."

32Red sold its Betdirect sports betting brand in 2007 to Gibraltar-based bookmaker Stan James for £5.75 million, incurring a loss of £6.75 million on its purchase price, after struggling to make a success of the business.

Shares in 32Red plc (Co. Profile) (AIM:TTR) are currently trading at 17.00 pence per share in London.