As reported by the Racing Post, Coral Eurobet has become the second of Britain\’s Big Three bookmakers to switch its hedging activities from the racecourse to the betting exchanges, primarily Betfair.
The company followed the example of William Hill, which at the beginning of November announced the transfer of its hedging activities to Betdaq.
Wilf Walsh, Coral Eurobet Managing Director, said the company was still using the racecourse market in a dual approach, and that Coral\’s traders were already feeling the benefits.
“Anything can happen in the traditional market in the ring, but given the way things have changed, our traders are now in complete control. On outsiders, for instance, they certainly have an immediate impact on prices when they use the exchange,” said Walsh.
Ladbrokes are “highly likely” to join the trend soon, with industry rumours suggesting that Dermot Desmond\’s Betdaq will get much of the business.
“We have been observing the situation with interest over the last few months, and it\’s highly likely that we will be hedging into the exchanges in the near future,” said Alan Ross, Ladbrokes Managing Director.
In separate news, William Hill launched a Greek-language internet poker website.
Williamhillpoker.gr has been developed by WagerLogic, a CryptoLogic\’s subsidiary, and is the first deployment of the Canadian-developed online poker software in a European language.
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