Two-month-old sports odds trading exchange Oddsfutures.com plans to create 10 new jobs in Ireland this year, following the successful launch phase of the business.
The positions will be in the areas of IT, management, sales, online marketing and finance, bringing the total number of employees to 17 by the end of 2011.
Irish-owned and founded by Marc Butterly and David Edelman, Oddsfutures.com allows people to profit from movements in horseracing markets without actually betting on the outcome of the sports event.
According to Butterly, it is the “world’s first sports futures trading exchange”.
So far it has succeeded in reaching two major milestones – reaching more than 500 customers globally; and secondly, these customers have surpassed the €150,000 mark in terms of money traded.
Oddsfutures.com plans to broaden the range of sports its customers can trade.
“We are very encouraged by the strong performance of Oddsfutures.com’s initial launch phase. Our product offering is globally unique, and our customer growth has happened virally; so though we’ve had to educate the market with little or no marketing spend, our test phase for customers has nevertheless surpassed our expectations,” said Butterly.
“The volume of trading that we are seeing every day validates the fact that sports odds derivatives trading holds great appeal for sports fans with market knowledge.”