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Lay Low21
#1 Posted : Monday, December 17, 2007 12:56:31 PM
Carl Lewis



Joined: 1/12/2007
Posts: 8,360
Location: isle of man

 
Racing Post - 2007-11-26


Happy Birthday to betting exchange WBX, which is one year old this week and has matched over £175 million in its short existence, with a top week of £8.3m, writes Howard Wright.


Sponsor of next weekend’s Fighting Fifth Hurdle at Newcastle, WBX will have sponsored more than 600 races by the end of the year. Chief Executive Malcolm Gray says “I’m delighted with our first year of trading. We have exceeded our expectations and have continued to break our targets.”

............................................................


WBX chief executive Malcolm Gray yesterday said that he believes that a year after launch his exchange are “the only competition to Betfair”, writes Paul Eacott.


Since going live on November 25th last year, WBX have matched in excess of £180 million through more than 720,000 transactions a day, but despite the fact this figure is dwarfed by the amounts traded on the exchange monolith, Gray insists that there is still room for a competitor to Betfair. He said “ we believed it when we entered the market, and because of the support of our members we still believe it. The fact that out turnover and member list continues to increase shows our members believe as well that there is room for an alternative to Betfair.”

“When we launched the site we always believed and maintained that a monopoly wasn’t good for the people who use exchanges. With any monopoly there is a danger of commission increases, people getting greedy and taking members for granted. If we continue to thrive and the market is more competitive for everyone then I think we all benefit.”

Some 6,300 WBX customers – a quarter of the total registered – were active on the site over the weekend when the one-year trading anniversary was marked with an offer of one per cent commission on all markets, and while the figures traded in the examples above may not appear particularly impressive, Gray says they are ahead of where the expected to be at this stage. He said “I can honestly say we are well ahead of where we thought we would be at the end of our first year trading. We have continued to grow month on month and things are going very, very well”

Just under 85 per cent of all bets matched are on horseracing, and Gray said plans were afoot to introduce place betting markets, but would not be pressed on any specific dates, saying that his “cagey” methods are down to lengthy periods of testing to make sure there are no glitches. WBX have experienced just one instance of unscheduled down time of two hours in 53 weeks’ trading.

With just £11,637 traded on Sunday’s Becher Chase at off time compared to £779218 on Betfair; and £11,836 on WBX versus Betfair’s £1,516,275 in the Premier League clash between Fulham and Blackburn at Kick-off time, it would appear that WBX have a long way to go before they are out of the red, but Gray insists this is not the case.

He said “If we wanted to we could be in profit now – however, we have decided to continue our wise investment in marketing and sponsorship. Even continuing our spend we should be making a profit by the 2008 Cheltenham Festival – about 18 months ahead of schedule.” Whether WBX are “the only competition to Betfair” remains to be seen. The huge spend on race sponsorship before their launch did help to elevate their profile.

He added “it has been very hard and required lots of effort from everyone at WBX to help us get to where we are. We have a team with a lot of experience and expertise in the industry.”



.............................................................................


good stuff malcom and team WBX......... Thumbs up Guitar

.



Well behaved women do not make history


.
Xest
#2 Posted : Monday, December 17, 2007 1:36:23 PM
Steve Waugh



Joined: 10/18/2007
Posts: 1,085

 
Thumbs up
Sunshines Revenge
#3 Posted : Wednesday, December 19, 2007 12:58:19 PM
Eusebio



Joined: 1/15/2007
Posts: 779
Location: Costa Dorada

 
Best of luck to WBX... Clients certainly need more than one betting exchange or independent layers could eventually be a thing of the past.

Hopefully WBX will introduce Place markets on horse racing at some point and they may even treat them as single markets for commission purposes if we are lucky Wink
Bunji
#4 Posted : Wednesday, December 19, 2007 1:01:19 PM
Lance Armstrong



Joined: 8/13/2006
Posts: 9,628

 
congradts to all the team at wbx Thumbs up
Does that mean the dogs up for a pay rise Very Happy
Slouch
#5 Posted : Wednesday, December 19, 2007 1:01:49 PM
Barack Obama



Joined: 8/30/2006
Posts: 18,367
Location: Frankston

 
Everyone knows Malcolm loves travel, meeting new people, is forty-three and a dirty southerner with a soft chin Mr. Green Wink
Teabags Brother
#6 Posted : Wednesday, December 19, 2007 1:03:50 PM
Martina Navratilova



Joined: 7/31/2007
Posts: 4,195

 
WBX will be bigger than betfair within 5 years. Any company who disregards customer opinion as much as betfair will not rule forever. WBX are playing it correctly by slowly slowly breaking the market.

At Anfield just watch the Villa go man,
We will prove that Rafas a circus clown
We'll have lots of fun with Mr scouser,
And then the Villa kids will knock him down.

Sunday 22nd March - The END of Liverpools title dream -
Slouch
#7 Posted : Wednesday, December 19, 2007 1:07:28 PM
Barack Obama



Joined: 8/30/2006
Posts: 18,367
Location: Frankston

 
"Teabags Brother"
WBX will be bigger than betfair within 5 years. Any company who disregards customer opinion as much as betfair will not rule forever. WBX are playing it correctly by slowly slowly breaking the market.


I'm doing my bit to kill betfair by having constantly withdrawn funds from crown casino
Teabags Brother
#8 Posted : Wednesday, December 19, 2007 1:11:12 PM
Martina Navratilova



Joined: 7/31/2007
Posts: 4,195

 
"Slouch"
"Teabags Brother"
WBX will be bigger than betfair within 5 years. Any company who disregards customer opinion as much as betfair will not rule forever. WBX are playing it correctly by slowly slowly breaking the market.


I'm doing my bit to kill betfair by having constantly withdrawn funds from crown casino


Good on you Slouchy Easy Easy Easy

At Anfield just watch the Villa go man,
We will prove that Rafas a circus clown
We'll have lots of fun with Mr scouser,
And then the Villa kids will knock him down.

Sunday 22nd March - The END of Liverpools title dream -
Slouch
#9 Posted : Wednesday, December 19, 2007 1:19:10 PM
Barack Obama



Joined: 8/30/2006
Posts: 18,367
Location: Frankston

 
Whenever I stand in front of that Roulette table the inner man is unleashed and I walk out a winner.

Like I always say: SHUT 'EM DOWN SHUT 'EM SHUT 'EM DOWN
Wink
beckford
#10 Posted : Wednesday, December 19, 2007 1:23:36 PM
Allan Donald

Joined: 10/24/2007
Posts: 806
Location: guernsey

 
Death to Betfair

WACCOE
Slouch
#11 Posted : Wednesday, December 19, 2007 1:26:23 PM
Barack Obama



Joined: 8/30/2006
Posts: 18,367
Location: Frankston

 
"beckford"
Death to Betfair

Thumbs up
I have one live exposure with them and that is Sydney in the 2008 NRL Premiership. They can die a slow and agonising death once they clear that one for me
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