Traders are getting around last week’s ban on short-selling by the FSA by turning to fixed-odds financial betting according to leading financial bookmakers www.BetsForTraders.com. The site has seen a surge in the number of bets placed against banking stocks following Thursday’s ban by the FSA, with the most popular stocks being Royal Bank of Scotland, Lloyds TSB, Barclays, Goldman Sachs, CitiGroup and Morgan Stanley. In the last 24 hours 74% of bets on the Royal Bank of Scotland and 85% of bets on Barclays have been on the banks' share prices falling.
Ryan Kneale, Chief Market Analyst at www.BetsForTraders.com comments:
“Thanks to the ban, fixed-odds financial betting overnight became the only way of shorting a bank and it was inevitable that traders would find this loophole as they scrambled to get around these protectionist rules.
“As a fixed-odds financial bookmaker, BetsForTraders.com enables betting on the event of the share price falling and does not include any contracts or buying or selling of the actual shares. We are therefore not subject to the FSA’s ruling which applies to spread betting companies and brokerage houses."
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Launched in 2007, BetsForTraders.com is a fixed-odds financial betting website which offers a range of 10 different types of fixed-risk bets on financial markets, single stocks, stock indices and the foreign exchange markets. Bets are fully customisable and operate through a real-time dealing interface. Customers can test the site out for free by opening an account with 10,000 virtual dollars.
As well as providing the largest range of bet types in the marketplace, the company offers a range of unique bet options not available through other betting sites. The website allows clients to "build their own bets" by adjusting the parameters using a sliding bar feature to optimise the price-payout ratio and specify the length of each bet, giving clients more control and price transparency.
BetsForTraders.com is owned and managed by Trinitas Capital (IOM) Ltd, based in the Isle of Man. The company is fully licensed to offer financial bets by the Isle of Man government. The Isle of Man is an important global banking centre and one of the best-regulated low tax jurisdictions. It holds a Standard & Poor’s AAA rating and has a high standard of accountability and numerous player protection laws. Due to its strict regulatory regime, it is one of only a few jurisdictions on the UK Government's White List, which grants exemption from betting advertising restrictions. Trinitas Capital (IOM) Ltd. is subject to regular audits, software inspections and ongoing regulatory scrutiny by the Gambling Supervision Commission.
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