Oddsfutures.com enables customers to profit from the prediction of movements in horse racing odds prior to the start of the race. Instead of taking a cut of customers' profits, Oddsfutures.com charges an ultra low transaction fee of just 2% of matched stakes discounted right down to 0.1% for larger volumes of trades. So the more traded the lower the transaction fee.
The move comes in the week that betfair (the world’s biggest betting exchange) announced premium profit levies of up to 65% for traders, a price sensitive group.
Oddsfutures.com is a sports futures market where customers are not taxed for their market insight or market information. Since customers don't bet on the outcome of the race, the exchange acts to improve levels of price integrity early and flush out earlier price correction in horse racing markets.
Commenting on the announcement, Marc Butterly, CEO of Oddsfutures.com said “We are delighted to offer our traders the opportunity to play without having to pay a commission and be taxed on their market intelligence. A low cost transaction fee of as little as 0.1% is an appealing proposition for traders who don't like the risk associated with a betting against a sporting outcome. Our goal is to be a vehicle for improving price discovery in racing.”
Launched only four months ago, Oddsfutures.com has already succeeded in reaching two major milestones. Firstly, the company has gained over 500 customers globally; and secondly, these customers have traded over €300,000.
“We are very encouraged by the strong performance of Oddsfutures.com’
Currently Oddsfutures.com is excepting trades on UK and Irish horseracing but plans are underway to offer a wider selection of horse racing markets Trades on US horse racing are next to be offered.
For reference, please contact:
Marika MacCarvill, Oddsfutures.com
Tel: +353 (0)86-171 2568
Notes to Editor:
Oddsfutures.com facilitates people to profit from movements in horseracing odds, regardless of the outcome of a race. You profit from market knowledge not outcome. You pick a horse, and if you think that the price offered is too generous, you can place a trade based on that price moving in. If you think the horse is not worth the initial odds, you can trade on that price drifting. It doesn’t matter if that horse wins or comes last – all that matters is that you were right in your prediction, and the further the price moves, the more money you can make (or lose, if your prediction happens to be misguided...)
All horse racing trades are settled at the off against the (oSP), a version of the bookmakers SP (the official Jockey Club odds). Any profits or losses are measured against this oSP.
Oddsfutures.com is currently offering a €100 Money Back Special, which refunds new customers up to €100 if they are not in profit after their first 30 days of trading. This is hugely beneficial for newcomers, in that it allows customers to familiarise themselves with the exchange in a practically risk-free environment.