|Online sports service Sports.com has gone under, only hours after the World Cup kicked off. The site had recently added betting to its news and content in the hopes of pulling in more customers, but was put into administration with the loss of up to 150 jobs at its London, UK headquarters. |
Staff were told of the decision to close after one of the site’s backers pulled out.
The closure comes as a shock to sporting and Internet experts, who thought that Sports.com had survived the worst of the Internet slump which killed off rivals Sportal and Sportinglife.com.
The site will stay open until the end of the World Cup, partly in order to honour the thousands of bets that have been placed on the tournament through the site, but will then close unless another backer comes up with more finances.
Over the past 18 months, Sports.com has tried to incorporate betting on the site to bring in additional revenue in the face of the slowing advertising market.
Despite some success in signing up new users, competitors say the site could only do so by offering attractive odds and offers, which would not generate much of a profit.