News

FSB Tech gets Mark Blandford, Andrew Black cash ahead of fixed-odds launch 15/05/2009

Jon Parker

Sports network FSB Technology has secured funding from backers including Betfair’s Andrew Black and Sportingbet founder Mark Blandford and will begin fixed-odds trading in August, it revealed today.

FSB is focused primarily on major European football leagues and competitions, and allows punters to stake on an individual player's performance and team performances, which are measured using a points system sourced from real-time data.

The business has received £750,000 from business angels including Black and Blandford, which will be used to fund development, hosting facilities and licensing.

Co-founder Dave McDowell said: “It’s about taking the software we developed last year and building in the scale and support structure around it to put the products in front of the customer.”

The business will begin fixed-odds trading at the beginning of the football season.

The company has taken the decision in the wake of its appearance in the November issue of eGaming Review, when it was reviewed by Unibet chief executive Petter Nylander and industry consultant David Briggs, the former managing director of Ladbrokes online gaming arm (more). Both experts recommended FSB offer fixed odds to overcome what Briggs described as “the liquidity curse that afflicts all pools-based games”.

McDowell said: “Their comments were spot on. We knew that when running a pools-product liquidity is the biggest issue. The most important thing was listening to our market and I think we have responded very quickly to what we were hearing.”

McDowell said that FSB is in talks with “several more of the well-known UK bookmakers” and expects at least three more contracts to be signed over the summer.

For more on this story, see the June issue of eGaming Review.

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Posted: 15/05/2009

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