|As the New England Patriots celebrate their last gasp Super Bowl 2004 victory over the Carolina Panthers, Trade Exchange Network – operator of the TradebetX.com and TradeSports.com betting exchanges – is also in high spirits after punters staked more than $20.6m on the entire event.|
Trading on yesterday’s Super Bowl XXXVIII had opened last April, and although positions were being taken even back then it wasn’t until the start of the season that the activity really picked up.
TradeSports and TradebetX saw a steady rise in the amounts traded between October and the semi-finals a few weeks back, but within hours of it becoming known who would be playing at the Reliant Stadium in Houston, Texas, it became clear it was going to be a case of the “Cats being the Dogs”.
John Delaney, CEO of TradebetX and TradeSports, says: “Throughout the Sunday and Monday after the semi-finals, the odds on the Patriots’ to win shortened from +150 to –230 (2.5 to 1.4 digital).
“By contrast the Panthers, who have so far had a shaky season, saw their post semi-final shares initially go from around +900 to +330.
TradeSports and TradebetX members were also able to trade ‘real time’ during the actual game with the money following the pattern of the game.
John Delaney adds: “Almost $1 million was traded during the event. Imagine how much more exciting the game is to watch when you are trading in and out of positions with every play”.
“We even offered our members the chance to trade on that enjoyable event, The Lingerie Bowl where traders correctly predicted a victory for Team Euphoria.”
With thousands of traders from over 125 countries trading in excess of $1 billion on TradeSports and TradebetX already, Super Bowl XXXIX odds and trading soon to commence will be even more action-packed on the exchange than Super Bowl XXXVIII.