Profitable 888 Enters Sports Betting Deal

888 has mostly been in the cards dealing business. A new deal reached with British gambling firm Rank will have it enter the sports betting world as well.

The company has been successful at what it does. Even with the scare a year ago, namely the ban on online gambling placed in the United States, which had the company and the industry at large lose about half its players and sources of revenue, 888 has shined bright. Third quarter numbers released earlier this week show an increase in revenue for the company from the same time last year.

After entering new markets around the world, it now feels ready to enter a new field as well. The deal between the two British companies will have Rank provide a sports betting service for the online poker and casino company.

Rank already has a platform for managing fixed odds betting and sports content. 888 has its proven payment processing platform and a hold in markets around the world.

This latter point was in Rank's comments following the deal signing when they said: "We will benefit from 888's international experience and liquidity as we extend our reach beyond the UK."

The new service is expected to be launched in the first quarter of 2008.