Betfair and London Capital Group in a white label deal

The announcement was made by Frank Chapman, CEO for London Capital Group Holdings, and represents a milestone for the company as it could accelerate the growth in spread betting clients beyond current forecasts.

Betfair used a third-party provider to establish its poker product before converting it to its own platform and there is every reason to believe, read a ‘buy' note issued by house brokers Cenkos, that the company has the same intention with spread betting.

Betfair is the world's largest online betting exchange and is driven by cutting-edge technology enabling customers to choose their own odds and bet against each other even after an event has started. The London-based firm processes five million transactions a day and more than 300 bets a second.

London Capital Group Holdings is a rapidly growing financial services company offering online trading services. Its core activity is the provision of spread betting products on the financial markets to retail clients under the trading name Capital Spreads. Other divisions provide online foreign exchange trading services to institutional and intermediate clients under the Capital Forex brand and institutional derivatives broking under the name Capital Derivatives.