Antiguan-licensed Matchbook.com site, the Irish Online Betting Exchange, has announced their move into the U.S. sports betting market.  The decision to enter the highly competitive and aggressive North American market came after Matchbook.com’s successful Spring 2005 beta launch. 

According to a spokesman for Matchbook, the company charges a two percent commission for peer-to-peer betting between clients.  The spokesman also explained that Matchbook’s role is the same as any other electronic exchange such as the Chicago Mercantile Exchange or NASDAQ, in that they each act as sort of clearinghouse for financial exchanges.

Matchbook has already experienced success in the North American sports betting market as they are already matching ten million dollars in bets a week.    An offshore team of financial traders and former bookmakers created the company.

"Matchbook is the bookmakers' nightmare," said Matchbook’s vice president of development, Tom Ramsey. "Exchange betting has already shaken up the $30-billion European sports-betting marketplace, and now the North American market is experiencing a similar transformation."

Posted on: December 9, 2005

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