|Financial types have traditionally had their more speculative urges catered to by spread betting, but now they can catch the betting exchange bug with Binexx’s launch of the first financial betting exchange. Binexx’s parent company City Index wants to replicate the success of online betting exchanges such as Betfair and Betdaq. No further information was available as to exactly what kind of bets are going to be available. Would punters be able to “lay” a spread? Or straight bets on which company’s shares would rise the most that day? |
It’s an interesting idea, but with the current concerns surrounding mainstream betting exchanges’ alleged propensity towards crooked betting, there could be concerns about insider trading and hedging. Whether financial betting exchanges will still be as attractive should the government start to tax punters is another story.