Worldlink up on sports betting deal

Investors took a punt on mobile technology firm Worldlink Group after the company announced a tie up with the betting odds comparison provider Betbutler.

Worldlink produces technology that allows information held on a mobile comunication device to be updated automatically without the need for a manual refresh.

Betbutler is using the technology to expand its service, with the intention of marketing the mobile platform through sports clubs, charities and other membership organisations.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

The first deal was struck with Ramsgate Football Club, currently playing in the Isthmian League Division One South.

Ramsgate will market the Betbutler service to its fans with revenues split between the club, Worldlink and Betbutler.

Andy Naylor, the Managing Director of Betbutler said: "It is estimated that each person betting regularly will lose about £100 per month, so if 1,000 supporters do their betting through the Ramsgate Club betting website, then twenty percent of the £100,000 pounds lost could go to the club each month".

Neil Riches of Worldlink added: "When we applied for, and were awarded our patents, we never envisaged such a wide use and diverse applications that could bring revenues to small and large organisations."

BS