|Description||Trading Made Easy|
|Seed, 7/05 ||£103k|
CityOdds Ltd is an internet based, UK licensed, revenue earning fixed-odds bookmaker specializing in financial markets. CityOdds Ltd delivers odds via a state-of-the art online platform and allows bettors to quickly place bets or trades on various financial market outcomes over periods from a few minutes to over 1 year.
The technology has been developed, tested and operated in the public domain and is built to allow the construction of bespoke financial investments as well as shorter term derivatives and bets. To scale the business beyond that of a Financial Betting Provider, CityOdds seeks to deliver its products directly to the UK and European retail marketplace and via agents and white label providers.
CityOdds Ltd is unique in that it captures the whole contract production process from specification, manufacture, delivery and support. It is the most efficient way for customers to manufacture bespoke bets and to have complete and instant liquidity in the secondary market.
CityOdds plans to scale its technology and infrastructure to be able to offer both retail financial betting products and retail derivatives investments to the UK and eventually European customers.
The delivery of retail derivatives has, to date, been by the investment banks, asset management companies (buying the derivatives from investment banks) and insurance companies. The delivery of these products has been inefficient and fraught with mis-selling issues. There is a large gap in the market for retail investors to create bespoke products (with or without the input of an advisor) and purchase them directly from the provider. The margins accruing to investment banks are very large and thus offers CityOdds a direct means to generate significant revenue.