Having only launched in February 2019 Betconnect has made eye-catching progress this year and last week announced it’s ninth consecutive month of growth with the value of bets matched on the platform hitting £2M for the first time.
With a £50 package of matched bets welcome offer, Betconnect has been able to recruit plenty of new customers particularly from the matched betting community where it has been keen to focus this year since launch.
Whilst describing itself as a next-generation betting exchange, Betconnect works by attracting high-value Pro punters wanting to place large bets and offering punters the opportunity to either follow those Pro bets or lay them.
Pro punters have many issues placing their large bets as many online and high street bookies will limit their stakes, whilst they will have to pay high variable levels of commission on betting exchanges on their winnings.
Matched betters on the other hand, are interested in laying some of the Pro Punters bets but are also keen to find extra value in the transaction themselves either by arbitrage or by further hedging of the bet with a bookie offering some bonus or promotion on the specific event.
According to Dan Schreiber CEO & Co-Founder of Betconnect, and former Senior Trader at Sporting Index the formula is working and he stated “We have achieved a remarkable amount over the past nine months with some of the country’s biggest professional sports bettors using betconnect to get bets on without worrying about stake limits or account restrictions. “
Schreiber anticipates a further cash raise in the near future and with shareholders such as Nick Candy already having invested in the business the platform looks set for further rapid expansion.
Betconnect is licensed by the Gambling Commission and you can read our in depth look and how to use the exchange for matched betting here https://www.profitsquad.co.uk/matched-betting-with-betconnect/