New Player on Sports Betting Market

One of the industry's largest online gambling companies, 888, has been determined to enter the sports betting service for quite some time. Earlier in the year, discussions with bookmaker Ladbrokes have failed and it seemed that the crossover to sports gambling would be postponed. Reports surfaced this week that tell of an entry into the sport gambling service by the end of this year, thus signaling that 888 will stay the course.

Ladbrokes would then become not a partner but a competitor. It is uncertain which company would partner with 888, but it is likely to be Blue Square, the online gaming subsidiary of Rank Group. Surely there is enough money in the industry to profit both competitors and more, with a sum exceeding 70 billion dollars circulating every year in sports betting.

The focus of Ladbrokes at the moment and the interest if Gigi Levy, 888's chief executive, is the UK sports betting market, by far the largest and best organized in the world today. The company is in discussions with a number of potential partners. No final agreement has been reached, and no official comment regarding such an agreement has been released.

Levy and 888 will be a rare and enviable example for a company that operates online gaming (casino and poker rooms) and sports betting all. Plans to add a community networking services would comfortably host all three services under one roof, becoming a central stop for many gamblers online.