* Exclusive deal with Longitude for sports pool betting
* New digital products slated for early 2013
* Hopes to attract a new, younger clientele
LONDON, Oct 8 Britain's Sportech has
signed a deal with a high-tech arm of an options exchange to
soup up its football and cricket gambling and make it more
attractive to a new and younger customer base.
Sportech said its deal with Longitude, whose technology was
developed in the securities business to produce efficient
prices, would allow it to offer multiple bet types based on a
single pool to generate larger and more liquid betting pools.
Sportech, which has a presence in over 30 countries and
processes more than $13 billion in bets every year, said it was
aiming to bring Longitude-enhanced digital products to markets
in Europe and India in the second quarter of 2013, with an
initial focus on football.
"The combination of Sportech's extensive industry expertise
and Longitude's groundbreaking technology, which will be
available primarily in tablet, mobile and online formats, will
develop a compelling offering to existing customers, whilst
fostering a dynamic new suite of products to create a new and
younger customer base," the companies said in a joint statement.
Longitude is a subsidiary of the International Securities
Exchange, a leading U.S. options exchange and unit of Deutsche
Pools and tote betting supplier Sportech reported first half
underlying profits of 7 million pounds ($11 million) in August
and said it would look to increasingly focus on its North
Sportech's shares, which have risen 55 percent since the
beginning of the year, were trading at 68 pence on Monday on the
London Stock Exchange.