Developer of solutions for the online gambling industry EveryMatrix has announced that it had successfully integrated the new BetOnFinance product on its platform.
The BetOnFinance website was launched early in 2016. Generally speaking, it offers a financial game that shows on display Danish and US stock markets. EveryMatrix explained that the website features a combination of CMS iFrames and Server APIs that are hosted on the developer’s own software platform.
BetOnFinance was founded by Danish gambling software provider Fibetco. The company has formerly said that it was its main goal to develop a brand-new online gaming system that merges two different markets – finance and betting – and makes it possible for gambling customers to participate in and bet on financial markets.
Betting on stock or financial betting is basically very similar to betting on the outcome of horse racing events. A player needs to predict which of the displayed stocks would come first and which one would be last by the end of a given period of time.
Recently, it became clear that Danske Spil has been eyeing BetOnFinance, saying that it has found merit in the ambitious project. Denmark’s gambling operator has also pointed out that it is interested in assisting the website’s future development and monitoring its progress.
It seems that no particular regulations would need to be introduced for the operation of BetOnFinance as what its offering resembles daily fantasy sports in the manner players are placing their bets, and the performance of the underlying stock and a player’s winnings are not linked directly.
When asked about his project, BetOnFinance founder Jeff Saul said that it is not that much a financial product but rather a pool-betting one. The website has already been given the green light to operate in Denmark. Mr. Saul told media that they are going to apply for a UK license at some point in future. However, prior to directing their attention on the highly competitive and constantly growing UK market, they will also apply for a license from the Malta Gaming Authority. Thus, their product will gradually be introduced to a larger public, if granted the necessary approvals by the relevant gambling regulators.
